Bernard Durkan (Kildare North, Fine Gael)
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75. To ask the Minister for Public Expenditure and Reform the degree to which the disposal of State assets has been examined to date with particular reference to the utilisation of any proceeds for job creation purposes; and if he will make a statement on the matter. [25004/13]

Brendan Howlin (Wexford, Labour)
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As the Deputy will be aware, I agreed with the Troika in May 2012 that all of the proceeds from asset disposals will be available, in the short term, to be used in one shape or another to support job creating initiatives in the economy. 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 underpin additional lending into Ireland, for example by the EIB, in support of further investment in job-creating initiatives.

Plans for the first round of disposal transactions are currently progressing, and I would expect to have the first proceeds available later this year to support the project preparation facility for the new PPP programme and additional commercial and publicly needed capital projects.

Bernard Durkan (Kildare North, Fine Gael)
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76. To ask the Minister for Public Expenditure and Reform if he will indicate whether it is expected to meet specific targets in respect of disposal if State assets under each heading; the extent to which these issues have been examined in detail; and if he will make a statement on the matter. [25005/13]

Brendan Howlin (Wexford, Labour)
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As I have previously informed the House, none of the potential receipts from the State assets disposal programme are to be used as a means of achieving budgetary targets. Instead, it has been agreed with the Troika that all of the Government’s proceeds from the programme will be available, in one shape or another, to support job creating initiatives in the economy. 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 underpin additional lending into Ireland, for example by the EIB, in support of further investment in job-creating initiatives.

In so far as the Deputy’s question may refer to targets set for receipts from individual assets in the disposal programme, comprehensive reports have been prepared for Ministers which include indicative valuations for each of the companies concerned and their assets. However, these valuations are extremely commercially sensitive and the Deputy will understand that I do not propose to indicate to the market how much we expect to raise from sale of any of the assets in the programme, but I can assure him that sales will be conducted via an open, transparent and competitive process.