Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

My response will cover all the amendments in the grouping. The common theme for these amendments is the involvement of NewERA in the acquisition or sale of State assets. Amendments Nos. 14, 15 and 16 relate to the larger commercial semi-State bodies within NewERA's remit, while amendment No. 18 relates to other State bodies. A State body is a body established under law and controlled directly or indirectly by a Minister. The provisions the amendments seek to delete are either advisory, as in amendment No. 14, or ones which allow a Minister to ask NewERA to provide project management for or to oversee acquisitions or disposals of State assets, as in the case of amendments Nos. 15, 16 and 18.

I recognise that some Opposition Deputies have strongly held views on the sale of State assets. However, what is being proposed in this section is that Ministers have a source of dedicated corporate finance expertise available to them, both with regard to performance of their ongoing functions in regard to commercial State entities and with regard to any disposal or restructuring of such entities should the Government decide on such a restructuring or disposal. NewERA is not being given any executive functions in this area. These will remain a matter for Government.

It is appropriate that Ministers should have the best possible commercial and financial advice available to them on all issues, including the acquisition or sale of assets. Once the decision to acquire or sell assets is made, Ministers should equally be able to use the expertise available. This is purely a mechanism for carrying out what would generally have to be a decision of the Oireachtas in the first place. Amendment No. 18 would require the Houses of the Oireachtas to approve a request to NewERA to be involved in the sale or acquisition of any interest in or assets of a State body that is not a designated body. I do not see the point of requiring separate approval for what would require an Oireachtas decision in the first place.

I would like to make clear that the provisions in regard to project management and oversight do not concern the actual underlying Government decision about the sale or restructuring of a State asset. Rather, it means that once such a decision is made, Ministers may avail of the expertise in NewERA in implementing the Government decision - once that decision has been endorsed by the Oireachtas. This is purely an enabling provision. The Government reserves the right to propose what should be done with State assets and it is only sensible that once such a decision is made, the decision is implemented as efficiently as possible.