Ann Phelan (Carlow-Kilkenny, Labour)

The Government is also constrained by the political realities of international agreements entered into on behalf of the State by the previous Government, such as the one that has mandated this sale of State assets.

A review group was set up by the previous Administration to ascertain which of our State assets could be best used to promote growth and investment in the economy by means of disposing of some of the equity therein. For example, with the sale of Coillte's forestry stock, it is imperative its wide and varied number of forest tracks and walks remain open to the public with no restricted access while the trees are removed from the land. Appropriate assurances and guarantees must be put in place so as not to block access to these wonderful facilities across the country.

Only this week, the Irish Business and Employers Confederation, IBEC, stated that as a result of tough decisions in recent years, international investors are again looking favourably on Ireland's long-term growth and prospects, suggesting there will be no shortage of interest in investment opportunities in Irish assets.

Warnings exist over the sale of some national assets and that we should not make the same mistakes as were made in the past in the sale of Eircom. The goal is to find the right balance between selling off some State assets to the private sector while retaining State control over those strategic assets. In the past, studies have examined public versus private but this sale will be different. This will offer the possibility of mixed ownership where the State retains a stake in the asset. It will also offer the chance of reaping the benefits of private ownership while keeping State control over what can be considered strategic assets.

I thought I would hear hoots of derision from Members opposite but there are not enough of them present. The reality is stark for them. It is we the Government who must make these tough decisions. It is we the Government who were elected by the people. It is we who will bring prosperity back to the people.

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