Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

It has been the consistent policy approach that funds released from State asset disposals should be used, as far as possible and when the fiscal rules allow, to support the economy and job creation, while also using some of the proceeds to reduce debt. Since the State assets disposal programme was agreed to by the Government, a number of significant announcements have been made of allocations of additional funding for capital investment to be funded from the proceeds of asset disposals. In this regard, I draw the Deputy's attention to the following. In July 2012, in its first infrastructure disposal programme, involving a total investment of €2.25 billion, the Government announced that on foot of the State assets disposal programme, it would undertake further Exchequer investment, including enabling works to support PPP projects. Almost €100 million has been made available for enabling works on roads and education PPPs. In June 2013 the Government allocated an additional €150 million for schools, energy efficiency and roads projects. In budget 2014 the Government announced that, with the €200 million already committed to the National Children's Hospital, some €200 million would be invested from the proceeds of the lottery licence transaction and used for a range of projects and programmes. In May 2014 the Government allocated a further €200 million. In budget 2015 the Government announced that €400 million of the proceeds to be received from the sale of BGE would be made available to support the Government's social housing programme. In 2015 the Government allocated the €335 million in proceeds from the sale of its shareholding in Aer Lingus to establish a connectivity fund.

In total, the Government has allocated over €1.5 billion from the proceeds of the State assets disposal programme and the sale of the national lottery licence to support jobs and economic development across the country.

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