Dáil Éireann Debate, Tuesday - 9 July 2024
833. Deputy Mairéad Farrell asked the Minister for Further and Higher Education, Research, Innovation and Science if the national training fund has ever been in deficit; if so, when; how this deficit arose; and if he will make a statement on the matter. [29928/24]
View answerEstablished by the National Training Fund Act, 2000, the Fund consists of a current account and an investment account. In accordance with section 2 of the 2000 Act, income and expenditure is channelled through the current account with any surplus transferring to the investment account and any deficit being transferred from the investment account. Subsection 2(12) of the Act allows for any shortfall in the Fund in a financial year to be met from moneys provided by the Oireachtas. However, the Fund has not been in deficit during its operation. Annual expenditure exceeded income on four occasions, in 2004, 2010, 2012 and 2014 and on each occasion the excess was met from the investment account.
