Michael Noonan (Limerick City, Fine Gael)

I have explained my position. The Deputy understands it fully. I am not directly a party to the sale. The Deputy knows how it occurred. Having met the principals in Liberty, I am confident that the jobs are secure. According to the Liberty Group's business plan, the intention is to grow and expand the company and to increase, rather than reduce, the number of jobs. That is what I was told by the gentleman from Armagh who is the chief executive of Liberty at present. He gave me assurances in that regard. I thought he was a very credible person. I hope the jobs are secure.

I do not want to lambaste the Quinn Group. There is enough information on the public record to suggest that the group was impaired for a considerable time as a result of unwise investments in Anglo Irish Bank. I refer to the purchase of shares. I am confident that the best decision was made in the interests of the future of the company. It is in the interests of the State that the liability, in terms of the capital that will be required on an ongoing basis through the insurance fund, be reduced. The decision that was made is in the interests of employees. I understand fewer than 20 people will be made redundant in Manchester. Some 1,570 jobs in the Border counties are secure. That is a very good result. My information is that the employees are supporting that decision now. I suggest the Deputy should get behind it, rather than knocking it.

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