Michael Moynihan (Cork North West, Fianna Fail)
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Question 177: To ask the Minister for Communications, Energy and Natural Resources if the holding company to manage the State's holdings of the semi-State bodies mentioned on page 14 of the programme for Government is the same as NewERA. [5372/11]

Pat Rabbitte (Dublin South West, Labour)
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As set out in the document Government for National Recovery 2011 – 2016, it is proposed to establish a New Economy and Recovery Authority (New ERA). New ERA is envisaged to have an ambitious agenda with a particular focus on management of investments over the next 4 years in Next Generation infrastructure by streamlined and restructured Commercial State Companies.

The precise structure and remit of the "New Economy and Recovery Authority" will be developed urgently in consultation with the Department of Finance, Department of Environment, Community and Local Government, relevant State Companies and industry as appropriate.

Subject to this consultation, it is anticipated that New ERA would perform the role of a holding company of the State's stake in the Commercial State Companies as referred to on page 14 of Government for National Recovery 2011 – 2016.