Noel Dempsey (Meath West, Fianna Fail)

He is telling me I should cut fares. I would be delighted not to approve a request for higher fares. The original request was for a 20% fare increase. I would be delighted to be able to say to CIE that I was going to get it to cut its fares. If the Deputy thinks that is a wise policy to pursue, that is okay. I will do that. The Deputy cannot complain, on the one hand, that CIE will not be able to operate as it wishes and, on the other, that somebody must pay for this. Taxpayers must pay the €313 million. CIE must promote itself as much as it can, as companies are obliged to do. It is clear there must be rationalisation within Dublin Bus. Many services can be saved if that rationalisation takes place.

I do not use fuel as an excuse. CIE has a very good record of hedging. The most it was caught for in fuel costs was approximately $100 per barrel. It did well and saved. I am responding on the basis of what I have been told. I am not imposing anything.

See this speech in context