Pat Rabbitte (Dublin South West, Labour)

The Deputy has broken my train of thought. They require that we realise significant funds from the sale of State assets. It is an open secret that they attempted to include a figure of €5 billion in the renegotiated memorandum of understanding. Instead, the revised memorandum of understanding commits to an ambitious programme involving the disposal of State assets. I am unsure how "ambitious" it is, but I know the figure is more than the €2 billion committed to in the programme for Government. Perhaps the Deputy is correct to suggest that as time passes, a more liberal view will be taken of whether imposing a heavy demand on the State in terms of the disposal of State assets is consistent with economic recovery and restoring growth to the economy. The Deputy might be right in suggesting that as time passes, this aspect will be reviewed.

On the question posed by Deputy Keating, we are in a bind and must show product, so to speak. That is the reason we are in the circumstances we are in with the decision on the sale of a minority stake in the ESB.

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