Seán Fleming (Laois-Offaly, Fianna Fail)

It is a conclusion which can be drawn from what the Minister said. I prefaced my remarks by stating I hoped the Minister did not mean what he said. However, the words to which I refer are those which he used. We will move on.

It has been pointed out previously that many semi-State companies have been set up since the foundation of the State. These companies contributed to the economy and created employment. A number of them - ICC Bank, ACC Bank, the ferry company etc. - were sold over time. The Irish people have, therefore, been involved in the establishment of semi-State companies and - this is part of the normal commercial life-cycle of businesses - the sale of some of them to finance other projects. It is important to place on record that this is not the first occasion on which sales of this nature have occurred. There are some who will refer to the family silver. I did not go down that route but I was concerned with regard to wider implications of what the Minister said.

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