Shane Ross (Dublin Rathdown, Independent) | Oireachtas source

No, the Acting Chairman said Minister responsible for marine issues. I am not. Deputy Creed is the Minister responsible for marine issues. Perhaps the Acting Chairman could address those remarks to him.

The exact extent of the liabilities was mentioned. There has been much talk about liabilities, and several Senators have put on record that they amount to €33 million. It has been agreed between officials on all sides that that figure is not accurate. The figure is closer to €10 million, although it has not been agreed, and is well-known to anybody who has looked at the issue in any detail or who has any knowledge of the matter. Those suggesting that the liability is €33 million are being deliberately mischievous. They are putting that figure out to scare people. It is agreed that the figure of €10 million is far closer to the reality, and will extend over a long period of time. It arises due to a need to repair infrastructure, which is normal in a harbour. It is not the case that €10 million will be spent immediately. It will be spent on the maintenance of the harbour, which any body or entity taking over the harbour would take on. There is no €33 million liability falling due tomorrow, or a €10 million liability. There is a future liability for repairs to be done, and that has to be accepted and will be absorbed.

People are not taking into account the fact that Dún Laoghaire-Rathdown County Council was in favour of this move by a massive majority. I am not sure what the numbers were, but a very large majority said that it should be taken over by the local council. It wanted it because this particular project will be in the interest of the citizens of Dún Laoghaire. That is what local councillors do. They vote, they speak, they push and they urge in favour of their constituents. One or two people are now saying that is not really what the council wanted, and claiming it did not want to inherit €33 million in liabilities. It is not being handed over €33 million in liabilities. Indeed, it is very doubtful that it is being handed €10 million in liabilities. I am not accusing anybody of being deliberately misleading, but the council is receiving a very large asset, including an asset rich company which has not been mentioned by a single person here this afternoon. Its assets are worth up to €40 million, with a single asset worth €12 million. Would the Senators not be glad to receive such an inheritance? It is receiving €40 million but might have to pay out €5 million or €10 million over the next ten years. That is not a bad deal. It is a gift. It is a jewel that is being given to the people of Dún Laoghaire, but it does not suit some people to acknowledge that.

What about income? What about the cash-rich business to which Senator Humphreys referred? For commercial reasons, it would not be wise of me to elaborate, but this company has certainly got a seven digit cash rich bank balance. Would any Senator refuse that, or would they come bleating about the fact that they would have to pay for a few repairs down the road? They would not, but it is very convenient to get up and shout about a figure of €33 million that has been plucked out of the air. It has been agreed by all sides, except for a few opportunist politicians, that that is not a credible figure. That is what is going on here. What has happened has been good for the citizens of Dún Laoghaire and an acknowledgement of Government policy. Those who say it is ridiculous that the matter has come late to the Seanad could have raised it in here at any time in the last four years. This has been delayed, and debated left, right and centre. It should have been signed earlier. It is a pity it was not signed earlier, but there was no great urgency at that stage. People were not coming into this House and screaming about €33 million then, or for the last six months. They come in to complain afterwards because it is politically convenient.

This is a great deal for the residents of Dún Laoghaire. It will make no difference whatsoever to funding, which has been bandied around in a politically opportunist way. It will not affect local property tax or local projects. Dún Laoghaire will benefit from this asset rich and cash rich transfer. The local councillors were very enthusiastic about this transfer, as I am, and as I expected everyone in this House to be. Suddenly, after the horse has bolted, people come in here thundering that this is a bad deal and that €33 million is owed. That is not the case. It is rubbish, and those saying it know it is rubbish.That figure was dismissed and discounted a long time ago. I do not accept that there is any threat in terms of issues that are politically sensitive and are brought up by people who have ulterior motives. I note that Senator Boyhan does not want to hear what I have to say-----