Brian Ó Domhnaill (Fianna Fail) | Oireachtas source

The matter relates to the proposed sale of the harvesting rights of Coillte. This arises under the EU-IMF programme, which asked the Government to consider selling some State assets to realise a profit for the State. However, Mr. Peter Bacon's report in this regard is now complete and available to the Minister, and, in my view, it shows it does not make any sense to sell a perfectly profitable State asset that employs close to 12,000 people and controls some 450 hectares of forest.

I have read some, though not all, of the Bacon report. Mr. Bacon was employed on behalf of the Department of Agriculture, Food and the Marine. It is clear from his findings that this does not make sense. The Minister for Agriculture, Food and the Marine is on record in the Dáil as stating in November last that the potential sale of the harvesting rights of Coillte over an 80-year period would potentially raise ¤400 million to ¤500 million, although this has not been fully costed. I am not sure if that is dealt with in the Minister of State's response today but the Minister, Deputy Coveney is on record as saying it. However, the Bacon report clearly shows that in order for the sale of the harvesting rights to make any financial sense, it would have to raise at least ¤1.3 billion, so there is obviously a major difference, although it is open to the market to decide what the cost will be.

By selling the harvesting rights of Coillte, they are effectively being transferred into private hands. Coillte is a very profitable semi-State organisation that made profits of between ¤15 million and ¤20 million last year and a similar amount the year before. We should not go down the road of selling this profitable asset and we should keep it in State ownership. The Bacon report would clearly seem to rubber-stamp that position. In light of the Bacon report, is the Government reconsidering its position or has the report been fully assessed yet?

It is clear from reading the report that Mr. Bacon is suggesting the sale of the harvesting rights would have a number of major impacts, for which the costs can be estimated, and he has estimated those costs at approximately ¤1.3 billion. If we were not to realise that amount in the sale, not only is the Government relinquishing a major State asset but it is also jeopardising 12,000 jobs within Coillte. It would also have a major effect in my own county of Donegal, where Coillte plans to sell a large area of forestry outside Ballybofey, a plan that is meeting huge local discontent.

I call on the Minister and the Government to cease from any sale of any Coillte resources in light of the Bacon report, which is very clear. I have written to the chairman of the Oireachtas agriculture committee, Deputy Andrew Doyle, suggesting that the committee would carry out a full and comprehensive analysis and meet with all the stakeholders before any decision is taken. The Minister of State, Deputy O'Dowd, may have some news in this regard.