Vol. 417 No. 5
136 Miss Flaherty asked the Minister for Energy if he has examined all the details of the home purchase by the ESB for its chief executive including the price paid, the rental, the length of the rental period and the final price; and if he will make a statement on whether any irregularities were involved and if he views such a transaction as appropriate; and whether it could occur again in the ESB or any of the other semi-State agencies under his control.
I have examined the facts relating to the purchase of a house owned by the ESB by a former chief executive of the company. As a general comment I would have preferred had this type of transaction not taken place; in this particular case, I concluded that the transactions were carried through in accordance with board decisions.
The Government recently considered the recommendations of a report on Guidelines for State Bodies prepared by the Minister for Finance. Guidelines based on these recommendations have been drawn up and the boards of semi-State companies, including the ESB, are being asked to ensure that these guidelines are followed. These important guidelines specify that the total remuneration of chief executives conforms with Government policy and that no unacceptable practices are put in place in implementing this policy.
