Aideen Hayden (Labour)

The sale of State assets in periods of economic crisis is not unusual. I remind Senator Byrne that the largest State sale ever was the sale of State housing starting in 1988 when in three years we sold off 30% of our entire housing stock.

I ask the Minister to take the opportunity of the privatisation of State assets not just to look at a share sale which is the most common way of privatising state assets, but to consider the co-operative model with the State as a partner eventually passing the asset into, for example, worker control. I also ask him to take the earliest opportunity to look at a national strategy for State investment. This debate should not just be about the way we sell State assets but needs to be a wider debate on State assets generally. For the sake of argument, in the future we should particularly consider the potential role for a State company to operate in the area of food security. Successive Governments have failed to defend and increase the fishing fleet. There may be a potential for a national fleet. We face enormous challenges in retrofitting our housing stock. There is potential for a State company to play a role in that area. It is nothing but good corporate governance for the State to consider its basket of investments in State companies at any moment in time. It should not just consider disposals but should look to the future of the State's role and a strategy for future investment.