Pat Cox
Ceist:12 Mr. Cox asked the Minister for Finance the way in which the Government proposes to achieve the target in the 1993 budget of £150 million receipts arising from asset disposals.
Ceisteanna—Questions. Oral Answers. - State Asset Disposals.
There are many options open to me in this regard and I will be examining all of them. I will in due course be bringing proposals to Government for decision.
Asset sales have been a feature of budget in recent years and because of the market sensitive nature of such sales detailed information has not been provided. It would be inappropriate therefore to make any statement on the matter.
Since it constitutes £150 million of his budgetary arithmetic, would the Minister at least tell us the Government's policy on the matter? It would not reveal anything injurious to the Minister's future prospects for raising funds if he told us whether the privatisations he proposes to undertake will be, like Greencore, the selling off of assets that were already deemed worthy for privatisation, or whether the new administration is prepared to drop its apparent ideological hang-up about privatisation in the Programme for Government?
There is not any ideological hang-up in the Programme for Government which is very much in line with what was followed by the last Government as outlined in the Programme for National Recovery and in the Programme for Economic and Social Progress. The areas I mentioned previously were Greencore and Irish Life. It may be those and it may be others as well.
In respect of the latter matter raised by the Minister on Greencore and in view of the deadline later today on the auction of Greencore shares, can he say, not knowing exactly what will emerge from envelopes at 5 p.m., whether any serious bids are expected from the Irish agri-business and what the Government's policy is in this matter?
I hope that at 5 p.m. there will be some serious bids in my Department from wherever. As I said in the House previously, I have an open mind on this matter. I have two concerns, one that I receive the money needed to make up the budget arithmetic and, second, and perhaps more important, that whatever proposals we have to deal with concern the future strategy and development plans of Greencore plc. All I can tell the Deputy is that when I left my office at 2.25 p.m. I had no such proposal.
I am calling Question No. 13.
May I ask one very brief question?
Yes, if the Deputy will be very brief. There are only five minutes to deal with the two remaining questions.
I will not press the matter beyond this.
We have a separate question on this actual issue, my Question No. 14.
It is not being taken with Question No. 13. I intend to come to the Deputy's question.
I appreciate that.
Since it is clear that the Greencore management would prefer the Archer Daniels offer can the Minister say whether that still remains on the table and is in prospect?
At this stage I cannot answer that question. We will have to wait as I have had no communication from that company directly or indirectly since the debate here three weeks ago.
Question No. 13, please.