Dáil Éireann Debate, Tuesday - 28 February 2012
307 Deputy Bernard J. Durkan asked the Minister for Public Expenditure and Reform the degree to which it is expected to maximise the return from the sale of any State assets with particular reference to the need to employ a strategy that delivers the maximum benefit to the taxpayer and the integrity of the economy; and if he will make a statement on the matter. [11585/12]
Amharc ar fhreagraI have made it clear to the House on more than one occasion that the Government's programme of asset disposals is based on the guiding principles that there will be no fire sales; integral transmissions and distribution systems will be retained in State ownership and full value will be derived for the State.
As the Deputy will be aware, the EU/ECB/IMF Troika has agreed to the retention of one-third of the proceeds for reinvestment in the economy in return for a commitment on our part to a disposal programme of up to €3bn. Therefore, in addition to its contribution to relieving the State's heavy debt burden, the programme that I announced last week has the potential for significant positive economic outcomes in terms of driving competition in the energy sector and facilitating much needed investment in our recovery.
