Brendan Howlin (Wexford, Labour)

I will certainly consider Senator Sheahan's convention centre proposal. Needless to say there is money to be paid back in that regard. He also spoke about pensions, a point raised earlier by Senator Byrne which I forgot to answer. Of course the full quantum of money in every case will not be realised because pension and other issues will need to be addressed. However, we will give a full transparent take on it so that Senators will know the full volume of money.

Senator Quinn, as a man very experienced in selling product, will know one does not announce one's price in an auction. Needless to say we have done very careful due diligence through the NewERA entity in testing the market - as one would. The product we are bringing to market, to use a colloquialism, is one for which we know there is a robust price. As I said in my initial commentary, if we do not get fair value for any asset, we will not sell it. It is as simple as that. That is understood and I have stated that from the outset.

Senator Hayden talked about a co-operative model. There is an imperative for us to get revenue in. While she talks very positively about future State companies - there may well be further State companies beyond Irish Water - where there is market failure. She instanced the food industry. That is one of the areas of the economy that is taking off. While there are very big drivers in the State sector, such as Bord Bia, to market product, there are many successful private companies converting fundamental raw product and adding value in the food and fisheries area. Of course there is a State research company in the fisheries area developing new market product. We will look at the general concept of getting value for existing companies by privatising either in part or in whole. We will then take that money and leverage it with private capital into the next generation of State companies so that we can create new jobs and meet market need that is not met by the private sector.