Minister of State for the Office of Public Works and Longford-Westmeath TD, Kevin ‘Boxer’ Moran, has said proposals announced in Budget 2018 to establish a contingency fund for emergencies as part of a Rainy Day fund delivers on a commitment he has made to people affected by flooding.
“This is a commitment that I looked for and I am delighted to say it has been delivered on,” said Minister Moran.“I have seen the clear need for this contingency fund for some time and I know the benefit of having it in place is that Governments can react much quicker to major emergencies.”
Minister Moran said finance for the contingency fund will be ring-fenced and cannot be used for other purposes.
“It is intended that resources allocated to any contingency reserve will not be absorbed into funding ‘regular’ budgetary overruns or new programmes.”
Minister Moran added that deployment of the contingency reserve would necessitate the occurrence of a force majeure event such as a natural disaster; public emergency or other unforeseen once-off occurrences.