Brian Stanley (Laois-Offaly, Sinn Fein)

I welcome the opportunity to speak on this important topic. This debate comes at a time when the Government plans to sell off strategic State assets. We only have to look into the not too distant past to see history repeating itself. Eircom, the State communications company, was worth €8.4 billion at the time of its privatisation. It was hived off amid huge controversy and now the company has a net value of just €39 million. Between 1982 and 1986 it received huge State investment. The Minister's party was in power and I compliment him on what happened to Eircom in that period. One of the good things that happened in the Government of the middle 1980s was the development of the telecommunications system, which improved massively under the watch of that Government. Through this investment and the commitment of its employees, this State went from being 20 or 40 years behind our neighbours to being one of the leaders in telecommunications. Having sold off the State-owned Eircom, download speeds available in Ireland remain below the fastest speeds available to customers in other OECD countries.

While progress is being made in improving the cost and availability of basic broadband, Ireland is lagging three to five years behind competitor countries in terms of rolling out basic infrastructure capable of high speed next generation broadband. Yet, this Government is attempting to do the same thing again to several of the State's prized assets. The Government announced on 22 February, outside the Chamber, its proposal to sell off State assets worth in the region of €3 billion. This would occur despite the Labour Party's election manifesto which states: "Labour is opposed to short termist privatisation of key state assets, such as Coillte or the energy networks." Such a quick and brazen U-turn has not been seen for many a long year.

The pro-public enterprise manifesto of the Labour Party was the basis for its election victory just over a year ago and laid the basis for its negotiations with Fine Gael, which in turn led to the coalition in government today. It is a coalition that has overseen a catalogue of cuts. I expect a chorus of lectures from Labour Party Minsters and backbenchers about our position. They will be finger wagging at us, telling us to get real. It will explain in pompous tones about how the country was run into the ground by Fianna Fáil, it now has to pick up the pieces and how the whole show is really run by the troika. If it honestly believes all that is true then the Minister should resign. If he has no power to protect the best interests of the people who elected him, then he should call it a day and step down. Let people with real commitment and ambition for the country take over.

We are not alone in our opposition to the sale of State assets. SIPTU leader Jack O'Connor, who is a member of the Labour Party executive, I understand, said: "The announcement regarding the sale of some public enterprises is a sad day for the Irish people and a tragedy for the Labour Party." Jimmy Kelly, regional secretary for UNITE, which is affiliated to the Labour Party said: "As things stand today any sale will be opposed using every means at our disposal." Meanwhile, IMPACT has also added its voice to the opposition to the scandalous sale of Coillte and other semi-State companies. Far from being an isolated voice in the wilderness, Sinn Féin is very much in touch with the sentiment of working people and the Labour movement, and is in very good company in opposing the sale of State assets.

Despite the limited fiscal powers Sinn Féin has in the North and the fact it is one of four parties in government which obviously involves compromise, as we all recognise, it has delivered on a wide variety of socioeconomic commitments. These include the delivery of 8,000 social and affordable homes; aid for small and medium enterprises through a £50 million loan fund; providing £40 million to address dereliction and promote investment in deprived inner city areas; a £13 million package to tackle rural poverty and isolation; continuing to work with others, including an SDLP Minister, on a reduction in greenhouse gas emissions by at least 35% by 2025; an investment of £40 million to improve pathways to employment and improved community services; and implementing an integrated and affordable child care package with an additional £12 million. All of that is being done while the Tory Government reduces the block grant by £4 billion. This clearly shows there is a different and better way. It can only be led by people who have vision and courage.

Sinn Féin has a very different view from this Government on how the economy should be run. In our pre-budget submission we detailed how semi-State companies should be used as a driver for economic recovery. Coillte, the ESB and Bord Gáis, which this Government intends to sell off, paid a total of €1.97 billion to the State in dividends over the past ten years. This is a huge success, by any standards, not to mention the PRSI and tax paid by workers and companies. These dividends will be no more if Government proceeds with its proposals.

Our proposals are simple, clear and focused on benefiting the country and its people. Sinn Féin wants to see the replacement of NewERA with a semi-State strategy group. We are proposing alternatives. The Minister is fair-minded and might take some of our proposals on board. The group we propose would include CEOs from semi-State companies working directly with the Ministers for Jobs, Enterprise and Innovation, Social Protection and Education and Skills. It would report directly to the Taoiseach and would be responsible for the delivery of strategic job creation and training.

All annual dividends paid to the State by commercial semi-State companies must be reinvested into employment activation. We must have employment activation - this is a real opportunity to have it - and training measures, as identified by the semi-State strategy group and signed off on by the Taoiseach. We would cap the ridiculous salaries of CEOs in semi-State companies at €100,000, saving €3 million. We would reduce the cost of energy bills by running a cost efficiency drive in the energy providers and redirecting the savings.

On the sale of woods and trees, the land will not be sold. Some Labour Party Deputies have said we are only selling the trees. They have to be sold but they should be sold by Coillte. That is how it has been until now and the State has received the maximum benefit.

The semi-State sector has huge job potential. It has been in place throughout many recessions and when the Labour Party was in power in the 1980s. It has stopped the country from falling through the cracks and has provided a safety net for the economy. It has made up a huge part of the economy which has kept the country on its feet and has huge potential to continue doing so.

I appeal to the Government, in particular the Labour Party and Minister, to rethink this short-term strategy and stand up to the troika. If it feels it is being bullied it should stand up to it. I appeal to all those in the Labour Party to revisit its manifesto, support the motion and stop the giveaway of our vital State assets.

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