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October 10, 2017

Contingency fund delivers on commitment to those affected by flooding – Moran

Minister of State for the OPW 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 benefits of having it in place means 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 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 one-off occurrence.

 

October 10, 2017

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