Róisín Shortall (Dublin North West, Labour)

The key issue is that the Minister does not know the company's capital requirements. If there is a case for part privatisation, it should be made. Let us have the figures on the table to see what the capital requirements will be over the next ten years and the best ways of meeting them. I want the Minister to tell the House whether he is considering at least a part privatisation of the company, as he seems to be. I want him to outline how he can guarantee the strategic interests of the State will be protected in that type of scenario. The Goldman Sachs report seems to indicate that they cannot be and that the notion of a golden share is nonsense.

What type of mechanism has the Minister in mind? The figure of €300 million has been bandied about in the media. If, for example, he was to sell €300 million worth of the company, what happens to that money? As matters stand, in a straight deal that goes into the Government coffers. It does nothing to help the company. What type of mechanism does he therefore have in mind? Is he talking about the State reinvesting the €300 million in the company or what exactly has he in mind? Is this just a mechanism for boosting the Government coffers?

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