Vol. 567 No. 2
236 Mr. Eamon Ryan asked the Minister for Transport the costs his Department expects will be incurred as a consequence of the break-up of the three constituent companies of CIE; the expected cost of the buy out of employees' existing terms and conditions; the revenue he expects from the sale of non essential properties belonging to the group; and the process for the sale of such lands and for the transfer of title to subsidiary companies. [14065/03]
Pending completion of all the detailed preparatory work, it is not possible for me to put an exact cost on the restructuring of CIE. This will depend on how certain key issues are addressed, such as debt and insurance. However, given the constraints on the Exchequer, it is my objective to implement the restructuring without imposing any significant additional cost burden on either the Exchequer or the CIE Group. I have made it clear that my proposals are not intended to worsen the terms and conditions of employees of the companies.
It is clear from an earlier independent review carried out on behalf of my Department by property specialists that there is the potential to generate significant revenue from the disposal of property which is surplus to public transport requirements. However it is not possible to be precise about the revenue to be generated as this will depend on a range of factors, including market conditions at the time of disposal. The arrangements for the disposal of surplus property will be considered as part of the ongoing preparatory work for the restructuring of CIE. The arrangements for the transfer of title of properties will be contained in proposed legislation.
