Tom Shehan (Fine Gael)

The public-private partnership with Treasury Holdings on the conference centre will cost the State €47 million per year for its first five years and €24 million for each of the following 20 years. The Minister should sell the convention centre. I am sure somebody is interested in it and the sale would save €750 million, or close to €1 billion when interest is included.

I was one of the first people to call for the disposal of Coillte because of the manner in which it was being run. In 2008 Coillte disposed of immature forestry for a net profit of €10.1 million. In 2009 it sold immature forestry worth €33.8 million for a profit of €25.4 million. It has been selling immature forestry for several years. However, I am concerned that the market value of the defined benefit pensions for Coillte's employees rose from €159.7 million in 2008, which was €10.2 million less than liabilities, to €123.9 million in 2009, or €98.3 million less than its liabilities.

I hope that any funds accrued from the sale of the felling licence of Coillte will not be pumped into the pension scheme.