Wednesday, 4 July 2012

Questions (24)

Pádraig Mac Lochlainn

Question:

23 Deputy Pádraig Mac Lochlainn asked the Minister for Public Expenditure and Reform the specific regulatory, legislative, corporate governance and financial reforms that must be taken in 2012 to allow for the State asset disposal programme to proceed in 2013. [32383/12]

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Written answers (Question to Minister for Expenditure)

The House will be aware that inter-departmental steering groups were established to identify and examine the issues referred to in the Deputy's question in respect of each of the State companies listed in the assets disposal programme that I announced in February. The relevant groups, having identified regulatory, legislative, corporate governance and financial issues arising in respect of each of these assets, have mapped out the course of action to be followed over the remainder of 2012 in order to ensure that necessary reforms are in place to enable the disposal programme to proceed in 2013.

We have agreed to discuss our proposed approach with the EU/ECB/IMF Troika during their current mission, which began yesterday. Clearly, various issues identified have the potential to impact on the achievable investor value of the assets. Any potential release of information about them at this stage could be unhelpful and might have significant repercussions for the ability of the State to secure maximum value for the assets. I do not, therefore, propose to publish more specific details at this point.