Pat Rabbitte (Dublin South West, Labour)

I have not made any analysis of the impact on jobs and in advance of decisions being made I am not sure how one would do so. I have talked to management in the ESB and Bord Gáis and I am happy as a result of those discussions that part-privatisation of, say, Bord Gáis down the line, far from being likely to lead to job reductions, could lead to additional employment as additional investment by a private sector partner helped to grow the market.

The second matter raised by the Deputy - the pensions issue - is separate to be considered down the line in the two companies to which he referred. I am glad that the ESB has managed to get the support of its group of unions to refurbish the pensions scheme and done so imaginatively and creatively. Bord Gáis is well on the way to doing the same. These are immensely successful companies and there is no intention, as I have said time and again, of disposing of any part of them in inferior market conditions or in the current market environment.

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