Mary Lou McDonald (Dublin Central, Sinn Fein)
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Question 85: To ask the Minister for Finance the progress he has made in negotiations with the troika to achieve agreement for partial proceeds from the sale of the State assets to be used to fund domestic investment and stimulus. [28642/11]

Michael Noonan (Limerick City, Fine Gael)
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The fourth quarterly review of the EU/IMF Programme of Financial Support for Ireland is still under way and is due to finish on 21st October 2011. The review comprises a series of meetings to evaluate all the elements of the programme covering fiscal developments including the Comprehensive Review of Expenditure and potential asset disposal, the macroeconomic outlook, progress on commitments in restructuring the financial sector and structural reform. Under the EU/IMF Programme, the Government is committed to considering options for an ambitious programme of asset disposals, based on the Programme for Government and the report of the Review Group on State Assets and Liabilities, and to preparing a draft programme of asset disposals in this context to be discussed with the External Partners in advance of taking final decisions on the programme to be pursued.

This draft programme is to include the identification of the potential assets to be disposed, any necessary regulatory changes and a timetable for implementation. As a signal of its intent in this area, the Government has announced that it is prepared to dispose of a minority stake in the Electricity Supply Board.

The use of the proceeds of any such asset disposals is a key issue for discussion with the External Partners. This is something on which we will continue to engage with the External Partners. The Government has already signalled its wish to retain some of the proceeds for reinvestment in job creation initiatives in the economy as part of the NewERA programme. Beyond this, I will not be in a position to comment any further until our discussions with the External Partners on the matter are completed.