Budget 2024

Future Ireland Fund: ‘This is not a rainy day fund – it’s a €100bn pot to pay for an ageing country’

Michael McGrath and the government is setting aside billions to deal with problems that are two decades away

Michael McGrath, Finance Minister, and Paschal Donohoe, the Minister for Public Expenditure arrive to government buildings earlier today. Picture: Rollingnews.ie

The government is creating a new “not a rainy day fund” which it hopes will give it access to €100 billion worth of funding by 2035 to manage the costs of the country’s ageing population.

Michael McGrath, the Minister for Finance, announced details of the Future Ireland Fund – an investment vehicle which he said would help “meet the costs of running the state in the future”.

The fund, long called for by advisory groups ...