Vol. 406 No. 3
287 Mr. Yates asked the Minister for Tourism, Transport and Communications if the capital investment envisaged at the time of the Telecommunications and Postal Services Act, 1983, were fully honoured by successive Governments; and if not, if he will outline the shortfall in State investment to date.
Section 29 of the Postal and Telecommunications Services Act, 1983, provides for State investment in An Post by loans and/or purchase of shares of a sum not exceeding £50 million to finance capital works. In 1985 the then Minister for Communications purchased £4 million cumulative 5 per cent preference shares in the company. There is no provision in the Act for State investment in the capital programme of Telecom Éireann.
