Seán Fleming (Laois-Offaly, Fianna Fail)

No, we did not. I will address the factual situation later. Some 100% of the sale of any State asset should be used for job creation, growth, economic development and investment. It is only through economic growth and investment that we can work our way out of our financial difficulties.

I have read the wording of the memorandum again. The Minister seems to believe some of the scripts being published in his name, he has read them out so often. The people believe what he is saying and the media seems to have accepted it. However, some of his comments on the contents of the memorandum of understanding have not been true. According to him, the original memorandum's only commitment was to address the issue through the McCarthy report. The programme's targets can and will be achieved without the proceeds of asset sales. The memorandum of understanding contained no figure on the sale of State assets.

See this speech in context