David Cullinane (Sinn Fein)

I support the request by a number of previous speakers for the Minister, Deputy Rabbitte, to come to the House to discuss the potential sell-off of a stake in the ESB. It is ironic that at a time when the State is nationalising private banking debt and taking on the burden of debt which belongs to international investors, it is at the same time privatising profitable State-owned companies such as the ESB. It shows the scale of the injustice that is being perpetrated on the people. We will end up with a national debt of more than €200 billion by the end of 2013, while at the same time selling off all of the family jewels. We are not only putting the State into liquidation - Senator Bacik rightly blamed the previous Government for this - but also not taking responsibility for what the present Government should do. This Government will unfortunately add to the problem by selling off profitable State companies. The ESB is self-financing. It has made a profit and put €1.2 billion into the State in the past seven years and more than €2.2 billion in the past ten years. It is a profitable company that should remain in public ownership. Senator Healy Eames put forward the notion that some syndicate of Irish people should be put in place to allow some Irish people to invest in the ESB. All of the Irish people own the ESB regardless of whether we have money. It is absurd to suggest that a small percentage of Irish people who happen to be wealthy and have cash in the bank be given the unique opportunity to invest in the ESB. All of the people concerned, who are being crushed by all the policies that have been put in place-----