Rainy Day Fund: Our backstop is very prudent

As the Government’s National Surplus Bill, which seeks to establish a contingency reserve fund, comes before the finance committee today, Sinn Féin argues what is generally known as the Rainy Day Fund has little to recommend it.

This bill allows for up to €2bn from the Irish Strategic Investment Fund and €2.5bn of taxpayers’ money to be transferred into the fund and, according to SF, its only explicit purpose is to bail out the banks.