Dáil Éireann debate -
Tuesday, 2 Nov 1993

Vol. 435 No. 3

Written Answers. - Investment in Telecom Éireann.

Michael Noonan

Question:

29 Mr. Noonan (Limerick East) asked the Minister for Transport, Energy and Communications if he will give the reason such a disproportionately small amount of money is being invested by the Government in Telecom Éireann as indicated in the National Development Plan 1994-1999; the policy decisions he considers necessary to enable Telecom Éireann to find the resources to carry out the major investment they envisage over the next five years; and if he will make a statement on the matter.

Minister for Transport, Energy and Communications (Mr. Cowen)

As the National Development Plan makes clear, there will be structural investment of £870 million by Telecom Éireann during the plan period. Telecommunications is an inherently profitable sector and it was, therefore, never intended that EC co-financing would be as significant as that required for investment programmes in the non-traded sector. It is a key strategic objective of Telecom Éireann to maintain its present ability to finance core business capital investment entirely from internal sources. No action is required on my part at this stage to enable Telecom Éireann to continue to finance its investment programme.