Seanad debates

Wednesday, 16 December 2015

Harbours Bill 2015: Committee Stage

 

10:30 am

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

If a private citizen holds private shares that have been issued in a company, he or she has the right to do with those shares as he or she sees fit. Once one buys shares, they are then one's private property. This is precisely the reason I am saying in the Bill that 51% of the shares should be retained within the ownership of the local authority. While there are some extenuating circumstances in relation to that, all of them require very explicit consent. My strong belief is that ports such as these are national assets. Regardless of whether they are regional or ports of national significance, the majority share should be kept in public ownership.

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