Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

Deputy Rabbitte said that the probability of agreeing to the immediate privatisation of Coillte looks more unlikely every day.

While that may be the outcome, I do not want to predetermine the result of Cabinet discussions. I have always said that we will protect the public asset Coillte manages in any sales process. Selling timber futures or harvesting rights is very similar to selling a crop early, which many farmers do. The State is investigating whether it makes sense from a financial and a strategic perspective to raise and spend the cash in the economy now. The process has been a very useful look at Coillte, its operations and the value of its timber. It has allowed me to put together a comprehensive report and set of recommendations for Government. I do not want to predetermine the outcome of discussions or what the decision will be. The Government said it would not rush into anything without doing all the due diligence. That is what we have done. We are virtually ready to make a decision, which is necessary. Regardless of what decision is made, continuing uncertainty about forestry rights and the future of Coillte is not helpful to the company or the timber industry more broadly. The Government must therefore make a decision soon, which it will.

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