Brendan Howlin (Wexford, Labour) | Oireachtas source

I thank the Deputy again. A number of disposals are currently in train under the State assets disposal programme, some of which are likely to result in proceeds being received this year by the companies disposing of the assets. However, the timing of payment of such proceeds to the Exchequer by the companies by way of special dividend, which, as I explained previously, is the vehicle I will use, remains to be decided by Government at this stage, and will depend, inter alia, on when this funding is required by the Exchequer for the projects that are to be supported with these proceeds. The national lottery licence transaction is not part of the disposal programme because it involves the sale of a licence for a fixed time period rather than the disposal of an asset. I have explained previously how that will be dealt with.

No receipts have been provided for in the 2013 budgetary arithmetic in respect of State asset sales and I do not currently envisage any proceeds being required or received by the Exchequer in 2013.

In 2014, as I have constantly stated, I do not propose to set out publicly in advance my expectations of likely proceeds from the sale of State assets, as to do so would obviously signal the price that Government expects to receive in the middle of a sales process, which might influence bidders in submitting their bids rather than seeking to maximise the proceeds from the State asset disposals in question, which is our objective. However, as a provisional measure, a figure of €110 million has been built into the budgetary arithmetic for 2014 for projects to be funded from asset sales, €45 million of which will be used to fund the up-front Exchequer costs associated with the public private partnership programme. We need to put money in place in advance to tee up some projects and the remainder will be used to fund costs associated with the €150 million Exchequer stimulus projects announced in June of this year. It is my intention and hope to announce a further stimulus programme once the quantum of money becomes clear during 2014.

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