Dáil debates

Tuesday, 28 April 2015

2:45 pm

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael) | Oireachtas source

This is another reason why stable, steady economic growth combined with prudent budgetary policy is the way forward.

The value of our investment in AIB, Bank of Ireland and Permanent TSB continues to rise. It is not the State's intention to remain a holder of its banking investments in the long term. The exit strategy is about recovering the full cost of the taxpayers' investment in these institutions and using the proceeds to reduce the debt further. The sale of 25% of Permanent TSB that concluded yesterday further improves the position. I am now confident that all the taxpayers' money invested in AIB, Bank of Ireland and Permanent TSB will be fully recovered.

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