Eamon Ryan (Dublin South, Green Party)

I oppose the proposed amendment, although I understand the intention behind it, on a basic point of principle. With regard to section 16, which concerns capitalisation of Bord Gáis in order to allow an ESOT to purchase a stake in the company, I have yet to hear an argument from the Minister setting out the reasons the State should allocate funding. We asked on Committee Stage to know the union's case for the capitalisation of the company and allocation of a significant shareholding, as well as the particular reasons for the Minister's change of mind. If I recall the Minister's comments, we are looking at up to €25,000 for every individual shareholder, based on the estimated final capitalisation of the company. The Minister said he would share with Opposition Deputies the case made by the union regarding any benefits or new productivity arrangements which would justify such a deal. Given the history of ESOTS and the effect they are having on State companies following the success — from a union perspective — of Eircom, I would have preferred to retain the practice whereby decisions are made according to ministerial regulations. I do not believe in enacting Bills which allow for such decisions to be made upon enactment; how can I make a decision when I have not been presented with an argument from the Minister on the benefits or changes in working practice that persuaded him to change his mind? In the absence of the reasoning for the decision, I would prefer section 16 to be issued by the Minister if he believes it a good idea.

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