Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I will be very brief. I have a great deal of respect for Senator Barrett. This is one issue on which we profoundly disagree and I do not propose to relive the entire debate that took place in the context of whether the Government should have sold its minority stake in Aer Lingus. The Government gave careful consideration to all elements of the offer relating to the sale of the State's minority shareholding in the airline to IAG in the context of the terms put forward by the latter. The feeling was that this was the best means of securing and enhancing Ireland’s connectivity and maintaining a vibrant and competitive air transport industry in Ireland. The decision served the interest of the travelling public, Aer Lingus and its employees, the Irish tourism industry and the Irish economy as a whole. That was a judgment call this Government made, it is one that we obviously stand over.

In regard to what Senator Barrett would like the €335 million to be spent on, he, as an eminent economist, understands better than I the reality of the fiscal rules the Irish people ratified by way of referendum. If this money were to be used in respect of on-balance sheet Government spending, it would not add anything additional to the Government's spend in next week's budget or in any other. Therefore, we believe it best to put it through ISIF as a commercial vehicle to invest in connectivity. I respect our difference in this regard, and I am sure we will have an opportunity to debate it in the Seanad as well.