Seán Crowe (Dublin South West, Sinn Fein)

I have described this proposal as reckless madness. The decision to sell a stake in the ESB is nothing short of reckless in that it puts quality, viable jobs at risk. It is madness, because the share will be sold off at a bargain price that will do nothing to address the crisis in our economy.

The company is self-financing, it has paid €1.2 billion in dividends to the State in the past nine years and is of vital long-term strategic importance in providing our energy supply. It is difficult to understand why this is happening. Does no one see the irony of nationalising private debt while privatising State assets to pay back gamblers and speculators?

The sale of parts of the ESB would provide a grand bargain for speculators at a high cost to the people of this State. The ESB provides skilled employment and training opportunities and is well placed to take a lead in the expansion of telecommunications by using its existing networks to address the State's broadband deficit.

If the Government pushes ahead with this decision it will have serious implications for our society and economy in the years ahead. Irish consumers will have to pay for what is clearly an ill-thought out policy, the legacy of which will be rising energy costs and job losses. I can quote an example from the EU. A number of years ago we were told that competition would be introduced into the energy market. The reality was that competition cost the consumer a 20% increase in charges. Our competitors in Europe are the French, Italian, Germans and British. Ireland could have been one of those big players. Some years ago, half an hour before the ESB was about to sign a contract to acquire a major stake in electricity companies in Poland, a previous Government pulled the plug on the deal and undermined the credibility of the company.

During last night's debate neither Minister spoke of the contribution the ESB can make in tackling unemployment and addressing much needed training needs. This is not surprising, since the Taoiseach himself considers it inappropriate to comment on the potential loss of 500 jobs at Aviva, the insurance company.

Semi-State companies, like the ESB, are part of the economic social fabric of this State. Semi-States drove industry in this State for decades. It is not an exaggeration to say they opened our economy to global markets. Following the expected bust of the construction industry, ESB Networks agreed a programme with FÁS to offer apprenticeships to 400 redundant electrical apprentices who were unable to complete their craft qualifications. That programme could have been replicated in a number of other semi-State companies but it was not done.

Social Justice Ireland created 1,000 part-time jobs in 162 organisations across the North. Social Justice Ireland says it could create up to 100 part-time jobs but the Government has not taken up the proposal. We are being told that cuts and sell-offs are good, but for whom? They are not good for the consumer and they will not fix the crisis we are in.

People say Sinn Féin is reckless in tabling this motion, but it is important that we have this debate. We must have joined-up thinking with regard to where we are going. It is not good enough to throw good money after bad in toxic banks. There is not a clear way forward. To sell part of the ESB is reckless and madness.

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