Brendan Howlin (Wexford, Labour)

The position as understood by the Deputy is not correct. While the programme for Government provides for the sale of non-strategic State assets to part fund investment in key networks of the economy under the NewERA programme, the disposal of State assets is also a requirement under the external funding programme agreed with the European institutions and the International Monetary Fund.

The memorandum of understanding governing the programme commits the Government to consider options for an ambitious programme of asset disposals, based on the programme for Government and the report of the review group on state assets and liabilities. A draft programme of asset disposals must be prepared and submitted to the EU-IMF by end of this year for discussion with the troika in advance of final decisions being taken on the elements to be pursued. A final decision on the programme to be pursued will be made by Government, taking into account the outcome of discussions with the troika on the amount of proceeds to be generated and also on the use to which these proceeds can be put. However, at this point, I have no intention of reconsidering the programme for Government commitment in this area.

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