Dáil Éireann Debate, Thursday - 1 March 2012
108 Deputy Michael McGrath asked the Minister for Public Expenditure and Reform if he has requested that the commercial semi-State companies pay an increased dividend to the State in 2012; and if he will make a statement on the matter. [12050/12]
View answerAs the Deputy will be aware, the NewERA unit was established within the National Treasury Management Agency in 2011 to reform the manner in which Government manages the commercial semi-State companies. NewERA will initially undertake the corporate governance function, from a shareholder perspective and reporting to relevant ministers, of ESB, Bord Gáis Éireann, EirGrid, Bord na Móna and Coillte. Its role will be , inter alia, to advise on matters such as the appropriate dividend for the State’s investment.
In reply to the Deputy's question, I have not requested that the commercial semi State companies pay an increased dividend to the State in 2012. However, the Government has agreed that my Department, in conjunction with the Department of Communications, Energy and Natural Resources and with the advice of NewERA and the Commission for Energy Regulation, will review the dividend policy in relation to ESB with a view to securing a greater return on the State's equity in future years.
109 Deputy Michael McGrath asked the Minister for Public Expenditure and Reform the approximate deficit on the pension funds at the end of 2011 or most recent available date of each of the commercial semi-State companies; and if he will make a statement on the matter. [12053/12]
View answerIn response to the Deputy's question each Department is responsible for providing pension fund details in relation to commercial semi State companies for which they hold responsibility.
In relation to an Post National Lottery Company which comes under the aegis of my Department I wish to inform the Deputy that pay and pensions issues are a matter for An Post. The information requested regarding the pension fund would therefore be provided by the Department of Communications, Energy and Natural Resources.
