Mick Barry (Cork North Central, Solidarity) | Oireachtas source

I would appreciate that. On the same issue, the taxpayer bailed out AIB with a very large sum of money. It is important the steps that are taken are beneficial ones for the taxpayer. The sale of the shares is a step in the direction of the privatisation of this bank. Clearly, when the shares are sold the bank will still have a majority State holding but it is without question a step in the direction of privatisation. I do not believe moving towards a for-profit bank is in the interests of the majority of ordinary people. It would be not just a for-profit bank but a for-profit bank within the framework of a for-profit banking system at a time when the State has a need for a powerful State bank that can intervene in the economy in appropriate ways. What I mean by that is the State clearly needs to have a programme of investment in housing, health, climate action, education and other areas. It does not make good sense to move towards increased for-profit banking when there is a need for State investment. AIB is not run in such a way at the moment that it is fully kitted out to do so but changes could be made to it within the framework of State ownership to make it a powerful driver of State investment. I put it to the Minister that is the way we should go rather than taking steps in the direction of privatisation. I am interested in his comments on that.