Vol. 443 No. 6
16 Mr. Hogan asked the Minister for Finance his policy in respect of partial or total privatisation of State companies; if he will give an assurance that no sell-off, either partially or totally, of any State assets will be sanctioned during the term of the Programme for a Partnership Government, 1993-97; and if he will make a statement on the matter.
The Government's policy in this matter is set out in the Programme for a Partnership Government 1993-97 which states that the main strategic utilities and enterprises will remain in the ownership of the Irish people, while having the freedom to enter joint ventures with the private and co-operative sectors.
The Programme for a Partnership Government states that the principles regarding State enterprises set out in the Programme for Economic and Social Progress of January 1991 will be implemented. These are set out in paragraphs 84 to 91 of the Programme for Economic and Social Progress. Government policy on State companies includes a commitment that any change in the ownership structure of particular State companies will only take place if it is in the best interests of a company and its employees and following consultation with the social partners.
Finally, the Deputy will be aware that while the Trustee Savings Bank does not have shareholders, the Trustees of the bank have recommended to the Minister for Finance that it should be merged with National Irish Bank in return for a payment to the Exchequer. Any proposal to reorganise the Trustee Savings Bank would have to be the subject of a ministerial order, a draft of which must be approved by both Houses of the Oireachtas. When I have examined the recommendation from the Trustees and the Government has had an opportunity to consider my report on it and the other options available, I will be in a position to say what action will be taken on foot of the Government's decision.
