Oireachtas Joint and Select Committees

Wednesday, 27 February 2013

Committee on Environment, Culture and the Gaeltacht: Select Sub-Committee on the Environment, Community and Local Government

Water Services Bill 2013: Committee Stage

2:00 pm

Photo of Catherine MurphyCatherine Murphy (Kildare North, Independent)
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Ten years ago, no one would have anticipated State assets would have to be put up for sale such as Coillte. I have been examining how Coillte has been structured and is packaged in a way to sell it off. Given the role of the troika, we have not been the masters of our destiny. One of my key concerns is that we will not be the masters of the ownership of Irish Water, irrespective of where the shares are held. I accept the point about raising finance. However, it is important ownership is retained in the State and there is a free supply of water.

It had been agreed to have some of the moneys raised from the originally agreed sale of State assets to be re-invested in job creation initiatives. As we are in such a precarious economic state, however, how valuable is such an assurance, given the way it has transpired with the sale of other State assets in the past?