Dáil Éireann Debate, Tuesday - 28 February 2012
65 Deputy John Browne asked the Minister for Public Expenditure and Reform if he intends to request that the troika agree to the full proceeds of the sale of State assets being used to stimulate economic growth and job creation; and if he will make a statement on the matter. [11175/12]
View answer86 Deputy Martin Ferris asked the Minister for Public Expenditure and Reform if the percentage of the proceeds from the sale of State assets to be reinvested in job creation will be increased. [11215/12]
View answerI propose to take Questions Nos. 65 and 86 together.
I am satisfied that the agreement that the Government reached with the Troika was a remarkable advance on the position originally advanced by them and I do not propose to reopen the matter.
I would remind the Deputies that the Troika was originally pressing for asset sales of €5bn to be used exclusively to off-set debt. In the course of our discussions, we have achieved a significant breakthrough on how the proceeds of asset disposals are to be used. In return for committing to a disposal programme of up to €3bn, the Troika has agreed to the retention of one-third of the proceeds for reinvestment in the economy.
I am confident that the asset disposal programme that I announced last week can have a significantly positive outcome by driving competition in the energy sector and facilitating much needed investment in our economic recovery.
