Mary Upton (Dublin South Central, Labour)
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Question 238: To ask the Minister for Tourism, Culture and Sport if she will give an assurance that the art collection located in Allied Irish Bank will not be sold; her views that since the State is a major shareholder in Allied Irish Bank it is only appropriate that this shareholder should be consulted on the future of the art collection; if she considers it appropriate that since this collection is effectively owned by the State that it should be available for viewing by the general public; the action she plans to take to ensure that the collection is made available for public viewing; and if she will make a statement on the matter. [42025/10]

Mary Upton (Dublin South Central, Labour)
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Question 239: To ask the Minister for Tourism, Culture and Sport if she will provide an inventory of the art collection currently held by Allied Irish Bank; if she will provide an estimate of the value of the art collection; and if she will make a statement on the matter. [42027/10]

Mary Hanafin (Dún Laoghaire, Fianna Fail)
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I propose to take Question Nos. 238 and 239 together.

I am advised by my colleague, the Minister for Finance, that the State, at present, holds, through the National Pensions Reserve Fund, some 18% of the ordinary equity in Allied Irish Bank. The day to day management of the Bank will remain on a normal commercial basis and the management of assets by Allied Irish Banks, including the holding or displaying of artworks, will remain a matter for the board of the bank.

Allied Irish Bank has been a great supporter of contemporary Irish artists over the last thirty years. It has, I believe, the most important corporate holdings of contemporary works of Irish art in this country. I would be a shame if this collection was broken up.

I am hugely concerned that the sale of the Bank of Ireland collection would depress an already troubled market place for contemporary Irish art practice. I pointed this out to the Bank of Ireland and, emphasised the deflationary and displacement impact which the sale of a significant body of contemporary art will have on the market here and, in particular, on emerging artists. In response, the Bank has donated a number of significant works from its collection to the State.

I understand that the AIB Art collection is described as a 'working' collection and pieces are located at offices and branches across Ireland and in AIB international offices. AIB operates an active policy of lending pieces, on request, to galleries across Ireland for exhibitions. In the last two years, it has stepped up this lending programme, which it intends to continue with the objective of bringing the collection to a wider audience and supporting the arts in the communities. I have now written to the Executive Chairman of A.I.B., asking that any pressure to dispose of its collection be resisted.