Thomas Byrne (Fianna Fail) | Oireachtas source

I have the greatest of respect for Senator Quinn even if I might not agree with him on everything. We are not looking at this or the next Government; we are looking at the distance between the establishment of the National Lottery and its sale. The Bill does not deal with that distance.

I have suggested that the public water forum be turned into a constitutional convention on the issue of privatising Irish Water, and would make recommendations that the Government could implement. This was an attempt to come some way to meet people's concerns while recognising that the Seanad cannot introduce legislation providing for a referendum. Even this proposal is not watertight but it is better than the Minister's proposal because at least we would be allowing for the possibility of a referendum in legislation.

The Minister's proposal on a plebiscite refers to the alienation of shares but it does not deal with the assets of Irish Water. We have sold shares in Bank of Ireland but we sold the assets of IBRC, namely, its loan book. There are different ways of privatising public bodies. We could sell the shares, the business or the physical assets. That is a significant lacuna, and I would like to hear the Minister's response to an amendment I will move later on this subject.