Robert Troy (Longford-Westmeath, Fianna Fail)
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Question 18: To ask the Minister for Public Expenditure and Reform if he will commit to ensuring that the full proceeds from the sale of State assets will be available for investment in the economy; and if he will make a statement on the matter. [28322/12]

Brendan Howlin (Wexford, Labour)
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The House will be aware that in dealing with the EU/ECB/IMF Troika on this matter, it has been this Government's consistent position that funds released from asset disposals would be used to support job creating initiatives in the economy. I am happy to report that, after long-term negotiations, I recently reached agreement with Troika representatives that all such proceeds would be used, in one shape or another, for this purpose. Half of the proceeds will be available to fund employment enhancing projects of a commercial nature. The other half, while destined eventually to pay-down debt, will, in the first instance, be constituted as a fund to guarantee additional lending into Ireland, for example by the EIB, in support of further investment in job-creating initiatives .