Joan Collins (Dublin South Central, People Before Profit Alliance) | Oireachtas source

I refer to the Minister's statement that this is not an ideological debate. In my view, the debate is ideological from the point of view of the potential value of this State company to the people of this country and the benefits which would accrue from the economic effects of afforestation. There is never much debate about a State asset which is not making money but that changes when it has the potential to make money. This is an asset that could be developed into something for the country and it should remain in State hands.

I refer to a meeting yesterday attended by Impact, the Woodland League and Dr. Peter Bacon, at which the free access campaign was discussed. If the Minister had attended that meeting it might have caused him to change his mind, and the case is likewise for Deputy Stagg. Now is the time to develop Coillte into something much better.

This issue sums up all that is wrong with the approach of this Government, the previous Government and the troika to dealing with the crisis. Austerity and a fire sale of State assets are not the solution. NewERA should be constituted as a body to develop a strategy for the State sector as well as developing natural resources as wealth regeneration for the Irish people and a sustainable green industry which will create employment. This requires a strategic plan for the State sector and investment by the State.

Coillte is an excellent example of how a State company can provide secure jobs and sustainable industry while at the same time creating a significant dividend for the State such as social and tourism amenities, a reduction in greenhouse emissions and the preservation of wildlife and biodiversity. It can play a key role in the rural economy.

This country is committed to the EU target of 30% forestation of land which is currently only 11%. The proposal to sell Coillte will most likely mean a reduction rather than an increase in this percentage. Why will the Government not publish its own report on a strategy for the forestry sector? Is it the case that this report will undermine the proposed sell-off of our timber rights? The economics do not add up and this was the evidence provided by Peter Bacon at yesterday's meeting. The sale of forestry rights will effectively liquidate Coillte as a commercial entity. What will this mean for other Coillte projects and jobs in telecommunications, wind farming, board mills and biomass supply? The Coillte report should be made public to allow for a proper debate.

According to Peter Bacon, €1.3 billion will be the necessary price to make up for the loss of 80 years of profits from Coillte. The estimated value of this potential deal is €400 million to €600 million, one third to a half of the figure estimated by Peter Bacon. The top estimate of €600 million is about two to three weeks' interest on the debt. It is a drop in the ocean. Coillte's debt is €172 million plus a pension fund deficit of €130 million. That is the other half of €600 million and it amounts to very little for job creation.

I agree that not everything is all right with regard to Coillte. I acknowledge the points made by other speakers. I refer to how Coillte was established, how it acquired land and how it is not accountable when questioned. Coillte has been privatised by stealth. It has sold 40,000 acres from 2009 to 2011. I refer to the case of Chevy Chase in Galway, a popular amenity for local people who were horrified to see that logging was being carried out even though this is an area of special protection. The Chevy Chase deal was made with the Irish Forestation Unit Trust, IFUT, made up of Coillte, AIB and Irish Life. It has links with the International Forestry Fund of which Bertie Ahern is a member. He got the job while he was a Member of this House. There is a need for democratic control of State companies as the way forward rather than closing the door on them.

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