Brendan Howlin (Wexford, Labour) | Oireachtas source

In regard to the money we borrowed to invest in Bank of Ireland, when our investment is realised, it will be used to reduce the debt. I reached agreement with the troika that we could use 50% of the money accrued from the sale of State assets for direct job creation efforts and the balance as a back stop. I was conscious that Greece and other countries were using unspent Structural Funds as a back stop for public private partnerships, but we did not have any unspent Structural Funds. We have to see what moneys come on stream. I commend my officials on their role in completing the sale process for the national lottery licence. We will see what accrues to the State from the sale of Bord Gáis Éireann, which will come on stream by the end of the year. We should review not only the value for money but also how we spend the money.

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