Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)

It is very hard to get straight answers about the outrageous plan to dispose of State companies and State assets, in part or in whole. As I understand it, and the Minister can correct me if I am wrong, there is no specific requirement in the EU-IMF memorandum of understanding that we sell State assets. It says that the Government will consider options for an ambitious programme of asset disposals based on the programme for Government. Will the Minister clarify that it is his Government that wishes to privatise these assets? It is not a specific demand of the EU-IMF. The Government wants to do it, but it wishes to put the blame on the EU-IMF for carrying through this deranged proposal to get rid of this country's family silver. These are precisely the assets we need to invest in to maintain and create jobs and to fuel economic growth.

Will the Minister clarify that issue for Members? Will he also clarify whether we are talking about €2 billion or €5 billion of State assets? The report suggests it wants €5 billion of State assets. Is the Minister now saying €2 billion will be used to pay the bankers' gambling debts and that some or all of the rest of the €5 billion, which he may or may not be considering, will be used to invest in jobs programmes as he has suggested?

What justification can the Minister or the troika, if he is saying it is it which is making this demand, give for privatising successful State companies, such as the ESB, or other State assets? It is a drop in the ocean in terms of the debt. It will make very little difference to the debt. What is the rationale for selling off the family silver other than for corporate vultures to use the economic crisis, facilitated by the Minister, to asset strip this country of vital State companies?

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