Gerald Nash (Labour) | Oireachtas source

The Government has much explaining to do on this issue. I am not convinced as to the rationale for the disposal of these shares at this time. After everything the country has experienced and after all the pain caused by the bank rescue and related economic problems, it is incredible that the final act in office of the Minister for Finance, Deputy Noonan, will be to deliver a barrel load of cash to our creditors to deal with an entirely manageable national debt and to do so when people need homes and health services above all else. There is no demand for this sale and I am not convinced that it needs to take place now. I cannot understand the reason the Government is so determined to carry on regardless and give the two fingers to the will of the Dáil, as expressed in a motion proposed by the Labour Party several weeks ago.

There is every chance that the fiscal rules will change as leaders across the European Union recognise that we need to return to the idea of a social Europe and move away from a Europe that appears to be focused solely on managing economies and reducing debt at all costs. Public sector trade unions are engaging with the Minister's officials in an effort to reach an accommodation and identify if a successor agreement to the Lansdowne Road agreement can be found. The wrong decision taken on the AIB shares and some comments made by the Minister who appears to be the Taoiseach in waiting on the management of public sector industrial relations in future have not helped the mood music. The best thing politicians can do is stay out of these negotiations and allow the public sector trade unions and the Minister and his officials to continue to do the job they have been asked to do. I hope the Fine Gael Party can break its duck and do something it has not managed to do previously, namely, successfully negotiate a public sector deal on its own. I genuinely wish the Minister every success in that undertaking because the country needs an agreement. I will await developments with interest.

My party is proud of the role it played in stabilising the public finances and ensuring, during the difficult period covered by the Haddington Road and Lansdowne Road agreements, that there were no compulsory redundancies in the public sector. We are also proud of the protections we introduced in the area of outsourcing and the prevention of mass privatisation of public services and State companies. When resources became available the Labour Party, with its partner in government from 2011 to 2016, ensured it was those on lower and middle incomes who benefitted most from the resources that became available, in particular, in the context of the Lansdowne Road agreement. I hope this principle is retained in the context of the negotiations being undertaken by the Minister's officials.