Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The Deputy's description of what the Government is doing, in some ways, is correct. It is not my intention that the State would remain the largest shareholder of AIB in the long term. My view is that we should be in a position where the bank is privately owned. Before we get to that point, we need to be in a position where the State is no longer the majority shareholder. We will have different political and ideological reasons regarding why that should be the case. The most pressing point is that we are in a situation where the wealth of the State in owning a share in a large bank is dependent on what happens with movements in share prices. Overall, I believe those who should own a bank and those who should be investing in a bank and taking the risk of owning a bank should be private citizens and the financial markets, not the State. Precious taxpayer resources are better served in the provision of public services rather than in the ownership of a bank. Some of the policy objectives Deputy Barry and I would agree on are better achieved through regulation rather than ownership. The Central Bank is an independent regulator of the bank.