Dáil Éireann Debate, Thursday - 23 May 2013
75. Deputy Bernard J. Durkan asked the Minister for Public Expenditure and Reform the degree to which the disposal of State assets has been examined to date with particular reference to the utilisation of any proceeds for job creation purposes; and if he will make a statement on the matter. [25004/13]
Amharc ar fhreagraAs the Deputy will be aware, I agreed with the Troika in May 2012 that all of the proceeds from asset disposals will be available, in the short term, to be used in one shape or another to support job creating initiatives in the economy. Half of the proceeds will be available to fund employment enhancing projects of a commercial nature. The other half, while destined eventually to pay down debt, will, in the first instance, be constituted as a fund to underpin additional lending into Ireland, for example by the EIB, in support of further investment in job-creating initiatives.
Plans for the first round of disposal transactions are currently progressing, and I would expect to have the first proceeds available later this year to support the project preparation facility for the new PPP programme and additional commercial and publicly needed capital projects.
