asked the Minister for Industry and Commerce if he is aware that the receiver appointed over Irish Steel Limited, Haulbowline, now in liquidation, has offered the equipment of the concern to an English firm, and, if so, whether he will state what steps, if any, he proposes taking to prevent such action by the receiver and to preserve for this country the steel-producing plant at Haulbowline.
Ceisteanna—Questions. Oral Answers. - Haulbowline Steel Works.
Would the Minister please state whether he is in a position to reply to Questions Nos. 5 and 6?
Yes, Sir. I might preface my reply by saying that I did not ask that these questions should be starred. I understand that Irish Steel, Limited, is not in liquidation, but that a receiver is in possession on behalf of the trustees for the debenture holders. I understand, further, that it is the present intention of the receiver to dispose of the business as a going concern to persons competent to carry it on successfully. I am not aware, however, that the receiver has offered the equipment to an English firm, but in any event I am not empowered to interfere with him in the discharge of his duties, as his responsibility is to the debenture holders, by whom he was appointed.
I have no reason to fear that any action which the receiver may contemplate in this matter will prejudice our chances of establishing upon a firm basis the steel-making industry in this country.
Is the Minister aware that the steel works have been closed down since the 11th February? He tells us now that he cannot interfere with the receiver. Surely if the receiver takes the action suggested in the question, of offering the equipment to an English firm, will that not definitely interfere with acquiring that steel-works as a national asset?
The extent to which it might be a national asset is a matter for consideration. I have already told the Deputy that, so far as I am aware, the receiver has not offered the equipment to an English firm. He is endeavouring to dispose of the business as a going concern.
Will the Minister say whether he is empowered by the Control of Manufactures Act to step in and interfere with the sale?
I am not empowered by the Control of Manufactures Act to step in in a matter of that sort.
Is the Minister aware that 70 men could be employed to do what work requires to be done there?
I am not so aware.
Will the Minister make representations to the receiver with a view to ensuring that work on hand which could be started immediately will be carried out? There are 2,600 tons of rails down there which could be rolled. Will the Minister use his influence with the receiver to get that work started, because the place is not a going concern, having been closed for the last three months?
That may be, but the receiver has no resources to carry on.
The question I put to the Minister was: Will he make representations to the receiver to carry on the work? I do not think there is any financial obstacle in the matter.
On the contrary, this is a business matter in which a great deal of money might be involved.
It is a matter of the banks.
It seems to me that the banks have sunk a great deal of depositors' money in this and they must look after the depositors' interests.
That should not be allowed to stand in the way of necessary work for the country because the financial machine is so powerful.
Will the Deputy give back the amount of depositors' money sunk in this concern?
Is it not a fact that the receiver can carry on work at the moment which would employ 70 men for a period? I am informed that there is no financial difficulty in this matter.
Is the Minister aware that the probability is, if things are allowed to drift with regard to these steel mills, that neither the depositors nor the country will get any benefit from the plant and the work?
I am fully aware of the present situation and the events which have led up to it.