asked the Minister for Finance if the Government will consider proposals for the disposal of State properties owned by the State at present such as local authorities, health boards, vocational committees, committees of agriculture and other such bodies, under sale/lease back arrangements with individuals or financial institutions, thereby releasing substantial capital funds which would alleviate the national debt.
Written Answers. - State Property.
59.
The basis on which the State holds property is under continuing review with the aim of minimising costs or making best use of capital resources, taking account always of the long term nature of the State activities and associated property requirements. Sale/lease back opportunities, as they arise, would be assessed in this context. To be acceptable such arrangements would have to show an advantage to the Exchequer over a reasonable period.
An arrangement somewhat similar to that suggested, involving a lease/ purchase basis for acquiring property is the most recent innovation in the provision of new Government accommodation. It is intended that this should be the basis for the provision of accommodation under the decentralisation programme. This procedure should achieve the objectives proposed by the Deputy; a reduction in demand for scarce capital, reasonable annual rents with the bonus of ultimate ownership by the State. The extension of this procedure to other capital projects will be considered.