Michael McGrath (Cork South Central, Fianna Fail)

Let us be clear on the sale of State assets, the original agreement reached last December committed the then Government to reviewing the McCarthy report with a view to setting targets for the possible privatisation of State-owned assets. In April this was upgraded when the Government committed to the phased privatisation of certain enterprises. In July the position was upgraded further when the Government signed up to an ambitious programme of asset disposals. As the Minister has admitted, the amount of €2 billion is the Government's figure, not one put forward by the troika. In recent months a number of Ministers have stated we have no choice in the matter and that the troika is forcing us to sell State assets in order to raise €2 billion or €5 billion. That is not the case. That is not the agreement to which we signed up.

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