I have not received any proposal regarding a staff shareholding in CIE. Were I to receive such a proposal, it would be considered on its merits in the light of prevailing circumstances and in accordance with the provisions of An Action Programme for the Millennium. The programme commits the Government to the development of public enterprise in this country and makes it clear that employee shareholding in State companies may be a conduit for raising capital for the further development of the commercial State sector.
An additional factor which would have to be taken into account in considering any proposal relating to CIE would be the implications of converting the company from its existing status as a statutory corporation without a shareholding to that of a limited company.