Darragh O'Brien (Dublin Fingal, Fianna Fail)
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The General Government Balance (GGB) measures the fiscal performance of all arms of government. It provides an accurate assessment of the fiscal performance of a more complete government sector. The GGB does not reflect the position of commercial State sponsored bodies as these agencies are classified as being outside the General Government sector. As to date, the LDA have been capitalised from the ISIF, this has had no effect on the General Government Balance. The commercial activities of the LDA DAC are not funded by the Exchequer. However, Exchequer funding is provided to cover expenditure associated with their non-commercial functions.

To fund its commercial activities, the LDA currently has access to:

• €2.5bn of equity capital from the Ireland Strategic Investment Fund (ISIF),
• €1.25bn of borrowings as provided for under the LDA Act, as well as;
• €1.25bn that can be raised by the LDA through the performance of certain functions.

Of the €2.5bn available through ISIF, the LDA has, to date, drawn down approximately €900m of this funding - €100million on establishment, €525 million paid over two tranches in H1 2023 and a further €300m in November 2023. My Department is currently considering a request from the LDA for the drawdown of a further €325m.

Exchequer funding of €3.8 million is being provided to the LDA for 2024 which is to cover expenditure associated with their non-commercial functions. These functions are detailed under Section 29 of the LDA Act 2021 and include the maintenance of the Register of Relevant Public Lands, the development of a report to Government on relevant public lands and any functions associated with the development of a Strategic Development Zone as provided for under Part IX of the Planning and Development Act 2000, as amended.