Billy Kelleher (Cork North Central, Fianna Fail)
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Question 42: To ask the Minister for Finance his views following comments by the Chief Executive of the National Asset Management Agency to a newspaper (details supplied) of his plans to push through the sale of at least €2.5bn of UK commercial property in the next three years; and if he will make a statement on the matter. [9701/11]

Michael Noonan (Limerick City, Fine Gael)
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NAMA has a commercial remit and it is a matter for its Board, as informed by property market expertise, to determine the scale and timing of proposed assets sales and its strategies in the various markets in which it operates. The actual level of sales achieved over the coming years will depend on market conditions as they evolve. To the extent that NAMA can realise cash from the sale of UK assets, it will be in a position to make corresponding reductions to its debt. The Board has a stated target of achieving 25% of debt reduction by 2013 and this includes assets across its entire portfolio.