Michael McGrath (Cork South Central, Fianna Fail)
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Question 143: To ask the Minister for Public Expenditure and Reform if he will clarify the details of the agreement with the EU, IMF, ECB in relation to the sale of State assets, including details of the value of assets to be sold and the timeframe for their sale; and if he will give further details on the way any such sale proceeds are to be used. [40657/11]

Brendan Howlin (Wexford, Labour)
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Under the arrangements entered into with the European Commission, the IMF and the ECB on external financial support for Ireland, the Government has agreed to prepare a draft programme of asset disposals and associated regulatory reforms, by the end of December 2011, for discussion with the Troika in advance of taking final decisions on the programme to be pursued. The draft programme will include:

the identification of the potential assets to be disposed;

any regulatory steps and changes deemed necessary, including those required to be consistent with relevant EU legislation, that would have to be completed in advance of a disposal;

a timetable for implementation, taking into account the need for an orderly process that avoids fire sales and allows time to implement regulatory reforms; and

an assessment of their classification as financial or non-financial transactions.

The Government's final decision on the programme to be pursued will take account of discussions with the Troika on the amount of proceeds to be generated and also the use to which these proceeds will be put.