Brian O'Shea (Waterford, Labour)

As for selling Leinster House, a not inconsiderable number of people would consider that to be a very good idea. I see the relevance of the Minister's arguments regarding a serious disturbance in the financial system, the need to sell shares in a fire sale context and the need to proceed by way of secrecy in that instance. However, this must be balanced against other considerations, not least the primacy of Parliament. I take it that in a scenario in which the Minister would seek to exceed the €7 billion limit, he would be obliged to get Cabinet approval and obviously this would be done in a highly confidential setting.

While I do not intend to press the amendment at this point, I will leave it open for Deputy Burton to table it again it on Report Stage. Essentially, I am trying to balance both considerations. I can see the logic underlying the Minister's argument in respect of alerting the market and damaging the State's resources, were the word to go out that the Irish State intended to dispose of shares in an emergency scenario. I agree this would not be in the national interest, were this to be flagged to the markets. At the same time, I seek a way in which the primacy of Parliament and the democratic need for issues of such importance to the State to be dealt with by public representatives on behalf of the people, while listening to their views in that context, would be taken into account. I will not press the Labour Party amendment and will, by leave, withdraw it with the option of returning to it on Report Stage.

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