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

The €5 billion is being invested and I have proof of this. I look at the progress being made in Dominick Street where a public housing project, long heralded and much needed, is now going ahead. I look at O'Devaney Gardens, a project that, when it collapsed over ten years ago, was emblematic of the beginning of the collapse of our economy. Later this year we will see the sod turned for the first phase of that project.

With regard to Deputy Calleary's concluding point on the prospects for AIB, as he will be aware, and I have answered questions on this in the House before and am happy to do so again, under the EU rules what that gain will be is a redefinition of an asset on the balance sheet, so it will go from being a share that the Exchequer holds to being a value that we receive via a payment which we are required to use to reduce the value of our debt.

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