Skip to main content
Normal View

Dáil Éireann debate -
Wednesday, 2 Mar 1983

Vol. 340 No. 8

Ceisteanna — Questions. Oral Answers. - Irish Steel Limited.

17.

asked the Minister for Industry and Energy if an allocation from the Exchequer will be made to Irish Steel Ltd. this year; if he has taken a decision on the future of the company; and if he will make a statement on the matter.

The Government have made provision in the 1983 Public Capital Programme for £10 million of non-programme outlay for Irish Steel Ltd. At the Minister's request, the Minister for Finance subscribed £1 million of this total to Irish Steel's share capital on 16 February 1983 as an interim measure.

I am currently studying proposals for the company's future which will be brought to the Government in the next few weeks. It would, therefore, be inappropriate to make a further statement at present.

A Cheann Comhairle, I ask you to request the Minister when replying not to be glancing over very important public matters. It was very difficult even to hear some of the lines he was trying to muffle through. It is quite clear that there is an embarrassment for the Government in trying to answer some of those questions here.

Has the Deputy a question?

I have a straight question. Are the Government going to maintain Irish Steel? Yes or no?

That is a straight question.

I stated in my reply, which obviously the Deputy did not hear, that I am currently studying proposals for the company's future which will be brought to the Government in the next few weeks. If I were to say anything further at this stage it would only jeopardise the situation of the company.

Will the Minister be recommending a "yes" answer to Deputy Reynolds' question?

Obviously, I would be breaching confidentiality if I gave "yes" or "no" to that question.

The Minister's own confidentiality.

Does the Minister intend to close Irish Steel?

I stated in my reply that the matter would be considered by the Government in the next few weeks.

By the company or by the Government?

The Government. If the Deputy was not listening to me I cannot help that.

I understood the Minister to say that the Minister for Finance put £1 million into Irish Steel earlier this year as an interim measure. Did I get him correctly?

Yes, that is correct, on 16 February 1983, as an interim measure. As I stated in my reply, £10 million has been provided in a non-programme outlay in the current year for the company.

Arising out of the fact that it was £1 million and I heard the Minister correctly, what was the request from the company, for what amount? Was it £10 million or £10 million plus?

The amount subscribed was sufficient to allow the company to continue.

What was the request?

Pending a decision by the Government, I have not got the actual request.

Why not the full £10 million?

The £10 million is available should it be needed to ensure the company's continuation.

What does the Minister mean by "shortly"? Is it a week, a month or six months?

I said in the next few weeks.

A final supplementary.

A final supplementary from Deputy Reynolds. I appeal to Deputies who are in the House when the House is in formal session to use the seats in the House, please.

Did I hear the Minister correctly that £10 million is being provided in the Public Capital Programme as a non-programme outlay this year and that is the sum total of the provision he has made for Irish Steel? Would the Minister accept that £10 million would not keep Irish Steel afloat for the rest of this year and that the questions we were asking him earlier are now being answered? Irish Steel will close if that £10 million is the total provision.

The Deputy cannot assume anything from my reply. The amount included in the non-capital programme is a satisfactory figure which, if needed, can be increased upon by a Government decision.

Top
Share