Eamon Ryan (Dublin South, Green Party)

I welcome the concept of incentivising and rewarding staff in State-owned companies. I am, however, concerned that it may affect the long-term strategic development of such companies. Following the success, from a trade union perspective, of the Eircom ESOP, and the increasing value of the Aer Lingus ESOP, we must be careful and certain in the message that is being sent out about them.

We are looking to establish, or have established, ESOPs in companies with significant assets, such as Bord Gáis, the ESB, Eircom and Aer Lingus. This is not happening with companies without a capital asset backing. Is that an appropriate development? Why are we using such a mechanism only for those asset-backed State companies which are potential privatisation candidates. Can we develop a mechanism that incentivises all State-owned company employees? It must be across the board, not necessarily on the basis of which one has the most assets. How do we provide incentives to workers in State-owned companies where there is no asset backing?

Is there any indication how close the 5% shareholding would be to the €38,000 per worker in any allocation? Bord Gáis is a relatively small company in terms of full-time employees but is significant in its budget and asset backing. If the Minister does not have the exact figures on this, will he provide a rough estimate? How close will it be to the limit of €38,000?

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