Dáil debates

Tuesday, 24 April 2012

2:00 pm

Photo of Brendan HowlinBrendan Howlin (Wexford, Labour)

The Deputy raises two points. I would welcome his support for not including the national lottery licence in the asset sales being discussed. The troika has not discussed this with me. I announced this in the context of the capital programme last year because I want to use the bulk of the up-front payment to pay for the national children's hospital. I do not want that dislodged and would welcome the Deputy's support for maintaining that income stream to build the hospital.

With regard to beginning sales of assets next year, that will not constitute a fire sale. The first reason for this is that we have done our due diligence. The main asset to be sold is the energy generating division of Bord Gáis Éireann. We know, because we have done our due diligence, that there is significant interest in the market for that. I have indicated twice to the House, and I do so again now, that we will sell nothing that does not present fair value to the taxpayer in terms of market price. If market conditions change remarkably between now and next year - I do not envisage they will - we will have to think again, because we will not sell any asset that does not accrue fair value to the State. I assure the Deputy of that. Judging by the due diligence we have already conducted, there is significant interest. I agree, however, that until one tests the market with a product, one is not certain of that.

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