TheJournal.ie uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Click here to find out more »
Dublin: 12 °C Monday 20 May, 2013
Trending:
RSS

Tags

See other tags

Tags

Kenny: I don’t foresee sale of state assets in 2012

Taoiseach Enda Kenny tells the Dáil that “commencement and realisation” of selling state assets may begin in 2013.

22/02/12 2,244 Views 72 Comments

TAOISEACH ENDA KENNY has said he does not expect the sale of any State assets to begin this year.

Speaking in the Dáil this morning, Kenny said formal proposals on the sale of assets – which the government this morning said would include the likes of some ESB stations and Bord Gais’s energy business – would probably begin next year.

The Minister for Communications, Pat Rabbitte, “will consult and bring to cabinet, in due course, his recommendations for what element of power generation within the ESB will be sold off,” Kenny said.

But because the government’s goal was to raise €3 billion through the sale of such assets, Kenny said he did not “envisage that any of this will happen this year” – as rushing into a sale would not raise “the most opportune price”.

“I do envisage the commencement and realisation of some of these assets in 2013,” the Taoiseach said, adding that the government had won a major concession from the Troika by securing the right to reinvest €1 billion of the proceeds.

Kenny was responding to charges from Sinn Féin president Gerry Adams who said details of the sales should have been revealed in the Dáil and not in a press conference which clashed with a Dáil sitting.

“Instead of flogging off the state’s wealth for a quick buck,” he said, the government should act to “make them part and parcel” of an economic solution.

“There is a very very clear pattern of government making announcements outside the chamber.”

Read: Parts of Bord Gais and ESB to be sold off >

About the author:

Gavan Reilly
@gavreilly
gavan@thejournal.ie

Contribute to this story:

Leave a Comment
Send a Photo / Video
Send a Tip
Send a Correction

Read next:

Comments (72 Comments)

Ordered By: Popularity
Leave a comment
  • Rommel Burke 22/02/12 #

    Could the brilliant negotiators we have not have shaved a few billion off the 3.1 billion they are paying out on March 31st?
    As was said recently you’d find better negotiators in any mart in the country!

    Reply
    | Share | Report this comment
  • Derek Durkin 22/02/12 #

    The Troika demanded €2 billion from the sale of state assets. That hasnt changed, its just the government are selling more assets to create €1 billion and are pawning it off as spin to say “look at us, arent we great negoiating with the troika” Fucking clowns, get rid of them.

    Reply
    | Share | Report this comment
  • finbar m 22/02/12 #

    And you’d be the one giving out when you gas & Esb goes up,,,

    Reply
    | Share | Report this comment
  • Kevin McCarthy 22/02/12 #

    Sad day when we are being told to sell our assets after we paid for the reckless banker gamblers. It is like you covering your next door neighbours gambling debts then you are told you have to sell your car,house and pretty much everything you posesses. Lovely. Meanwhile your neighbour is off playing golf.

    Reply
    | Share | Report this comment
  • Mike Turner 22/02/12 #

    This amazing thing about this is OUR assets are going to be sold off to the same bond holders at a deflated price to pay the interest on what the bond holders (same members of the troika) created out of thin air and lent to us. So we are litterly GIVING THESE ASSETS AWAY!!!!!!! Our puppets in suits know this.

    Reply
    | Share | Report this comment
  • Eoin Faz 22/02/12 #

    Not much foresight on Kenny’s behalf

    Reply
    | Share | Report this comment
  • Barry Lynch 22/02/12 #

    Is there anything in the Irish constitution which would allow the people of Ireland to oust a government that has betrayed the people it is supposed to be serving?

    Reply
    | Share | Report this comment
    • Yvie M 22/02/12 #

      I’ve been wondering this myself Barry.. Alas it would appear that they are immune to being ousted. But I’m open to correction. And if we succeeded.. Who would replace them? They all promise the earth, moon and stars to get their grubby little trotters in the door.. Then once elected.. Well, we’ve seen this lots true colours haven’t we?

      Reply
      | Share | Report this comment
    • Robert Foster 22/02/12 #

      Unfortunately not.

      Reply
      | Share | Report this comment
  • Kerry Blake 22/02/12 #

    In the original memorandum of understanding there was no mention of any figure let alone 5 billion. So when FG/LAB claim that this is due to the FF/Green government they are to be polite telling porkies.

    Personally I would have thought if we are going to sell off state assets then I would like to see the full 3 billion invested in Ireland rather then 2 billion going to pay for the loans we received to cover the black whole which is the Irish banks.

    Reply
    | Share | Report this comment
  • Aidan Collins 22/02/12 #

    Is the sale of the Coillte assets possibly a new form of Chinese Takeaway?

    Reply
    | Share | Report this comment
  • John Cleary 22/02/12 #

    This has all the makings of a disaster for the future of the country.
    The analogy that springs to mind is swapping a purebred stockbull for a half castrated shortarsed mountainy steer.
    Whatever hope you had of making a few quid out of the progeny of the former, youd have none whatsoever with the latter.
    And then youd need your arse kicked up your shirt for being stupid.

    Reply
    | Share | Report this comment
  • hughsheehy 22/02/12 #

    Whatever you think about privatization of state assets, using the proceeds to pay for Anglo Irish Bank’s debts is monstrous.

    Reply
    | Share | Report this comment
    • Keith Hoare 22/02/12 #

      They are not doing that. Not one cent of taxpayer’s money was paid to Anglo outside of what was committed by the last government. If you don’t agree with that then you have a problem in accepting a clear fact of time.

      Reply
      | Share | Report this comment
    • michael cuthbert 22/02/12 #

      That’s cute of you. But the current govt campaigned to get elected on the basis they’d re negotiate. “not one red cent” and all that…

      Reply
      | Share | Report this comment
    • The kop 22/02/12 #

      i seem to remember someone saying “not one red cent more”……. 1.25billion there recently and low and behold 3.1billion come the end of march……so in two quick moves….the government has lost 8 yrs worth of this fantasy household charge they want to bring in and gone even before the sale of OUR ASSETS…..(NOT THE GOVERNMENT’S) is the 3billion they hope to raise from the sale!! where is this 1 lonely billion that they “say” is to be used to boost the economy coming from…..more taxes maybe!

      2 lonely Fine Gael members Keith and Tom beating the Enda drum…..not beating loud enough guys because it can’t be heard over the sound of the angry voices in the streets….who have nothing in their pockets only the sound of a few red one cent coins……

      Reply
      | Share | Report this comment
  • Dermot Purcell 22/02/12 #

    when will the people cop on to the treachery this goverment and the last one are pushing on the ordinary people of this country, wake up they have declared war on the people .

    Reply
    | Share | Report this comment
  • Yvie M 22/02/12 #

    Sorry Enda. You can’t foresee what you could be having for dinner tonight, nevermind what your sham government will get up to in 2012.

    Reply
    | Share | Report this comment
  • Christ's Atheists 22/02/12 #

    “I do envisage the commencement and realisation of some of these assets in 2013″…

    Is it possible to commence an asset?

    Translation please…

    Reply
    | Share | Report this comment
  • jimbo 22/02/12 #

    Yawn!

    Reply
    | Share | Report this comment
  • Keith Hoare 22/02/12 #

    For those who disagree can yee at least attempt to correct me as opposed to hiding behind a click.

    Reply
    | Share | Report this comment
    • Réada Quinn 22/02/12 #

      I’m not hiding. But how can you justify the state being told what to do by Troika to pay off a debt that is not ours? The bank guarantee that was given by our previous government was made under duress and with false information. It should be declared null and void.

      Reply
      | Share | Report this comment
    • Christ's Atheists 22/02/12 #

      Don’t participate in thumbing. But I would guess the main reason you get red thumbed is for your apparent support for the govt. Another might be your naivety in believing the govt will actually do what it says it will do once the billion is “commenced and realised” next year.

      The govt very well knew before the election what the state of the finances was.They made promises to get elected and are now back-tracking on many of the promises, saying they are ham-strung by agreements made by FF with the Troika. Come next year, we will see what they do with the billion, assuming they raise that much…

      Reply
      | Share | Report this comment
    • Keith Hoare 22/02/12 #

      I don’t want this country to be under the shackles of the troika anymore than anyone else here does but the reality is where we are. You can justify why we are in this programme quite easily. The troika have given us the sanction to use up to €1billion from the proceeds of the sale for job creation purposes not for anything else. Quite frankly, if that’s not welcome news to some people, then you would have to question what motives they have in commenting on this stuff at all. The priorities for some people here really is questionable on how yee can turn a blind eye to a positive move by the troika. What happens if we say goodbye to the troika? Ponder on that one.

      Reply
      | Share | Report this comment
    • Robert Foster 22/02/12 #

      @ good aul Keith hoare. Looks like you’re a “we are where we are” merchant. Like “Inda”. Stop talking shite.

      Reply
      | Share | Report this comment
    • Robert Foster 22/02/12 #

      Keith is getting tetchy now that his vested interest is exposed!

      Reply
      | Share | Report this comment
    • Dermot Mc Loughlin 22/02/12 #

      Keith – stop now, no point FG apologists coming here to spout the party line when you lot hide away from the fact that the FG austerity is damaging the health of our children, you can talk up the troika all you want but the bottom line is that giving 2 billion away to reduce a debt forced upon us by your ‘European partners” while children lie on hospital trolleys is immoral and a damning reflection on our government.

      Reply
      | Share | Report this comment
  • Keith Hoare 22/02/12 #

    The government didn’t bother re-negotiating this for the sake of having no impact. Before the election, the troika were pretty clear that no proceeds from the sale of state assets could be used for any other means than reducing the debt. Now, 12 months later, the troika have agreed that the government can use up toa third of the proceeds for measures aimed at promoting job creation. Pretty clear to me.

    Reply
    | Share | Report this comment
    • Dermot Mc Loughlin 22/02/12 #

      Our companies – our economy, if these are to be sold then the full amount should be invested back into job creation, will 3 billion make much of a dent in the debt forced upon us? – NO.
      Will 3 billion invested into job creation make a difference – NO, unless it’s managed right and truthfully, i wouldn’t trust this government to manage a good shite.

      Reply
      | Share | Report this comment
    • Christ's Atheists 22/02/12 #

      Oh but surely. They’re full of that anyway…

      Reply
      | Share | Report this comment
    • Robert Foster 22/02/12 #

      Oh God Keith, a bit wet behind those ears me thinks you are. You’ll learn tho, don’t worry.

      Reply
      | Share | Report this comment
    • John Cleary 22/02/12 #

      I used to observe committed young firebrands like yourself blazing a beige trail through UCD in the late eighties and early nineties Keith. While the rest of us owere shamelessly committed to fourth division shifting and getting ripped to the tits in the bor, the Kevin Barry Cumainn were identifiable by their raincoats and briefcases and the strange urgency of their movement.
      Today, in my wisdom, I can see this as the early symptoms of shiftiness.
      Some of those men and gels went on to fuck the country up as elected representatives and others elevated themselves to the Bar or slid into PR.
      In some respects also heartily contributing to fucking the country up.
      Theyd have all been better people if theyd acted their age, in their age.
      None of them were at the Inspiral Carpets gig in McGonigals in 1989 when a few of us went through the floor after a half hour of wild pogoing.
      Instead they worked over a longer period at sending the country through the economic floorboards.
      Be warned, enjoy yourself and try to stay off the bullshit. Its better for you in the long run.

      Reply
      | Share | Report this comment
    • Robert Foster 22/02/12 #

      Keith’s commitment to the political process. Oh god, can’t stop laughing. You and your Ilk get in it for one reason only. Self preservation, the wages and the pensions and the untouchability. All that stuff. Te good of people, not in Ireland. No chance. All about the self in Irish politics. Not the common good.

      Reply
      | Share | Report this comment
    • michael cuthbert 22/02/12 #

      Nice one John. Comment of the week, for sure. A song from under the floorboards. Take heed young bucks. Enjoy it while you can. And if you can’t, there must be something better to do than YFG…

      Reply
      | Share | Report this comment
  • Keith Hoare 22/02/12 #

    The government didn’t bother re-negotiating this for the sake of it having no impact to the status quo. Before the election, the troika were pretty clear that no proceeds from the sale of state assets could be used for any other means than reducing the debt. Now, 12 months later, the troika have agreed that the government can use up to a third of the proceeds for measures aimed at promoting job creation. Pretty clear to me.

    Reply
    | Share | Report this comment
  • Keith Hoare 22/02/12 #

    Could Gerry Adams not just acknowledge this good news? €1billion will make a big difference to job creation.

    Reply
    | Share | Report this comment
  • Tom Neville 22/02/12 #

    Leaving aside Anglo Debt, the country still spends 20 billion more than it earns. Some folks cannot do basic maths….and they aren’t all in Anglo. :)

    Reply
    | Share | Report this comment
    • hughsheehy 22/02/12 #

      That’s true, and privatization would quite probably be needed anyway.

      But that doesn’t make it any better to sell Coillte to pay off Anglo’s debts

      Reply
      | Share | Report this comment
    • Michael Cuthbert 22/02/12 #

      True. Some are in the Central Bank, some in the Dept of Finance. Then there’s NAMA, the NTMA, Irish Nationwide, AIB, BofI…

      Reply
      | Share | Report this comment
    • Dermot Mc Loughlin 22/02/12 #

      Simple maths?
      The simple maths for this particular situation is that 2 billion of the proceeds from this immoral firesale will reduce the ECB/EU imposed debt by a paltry 1% which in the grander picture is negligible yet these assets are gone and gone forever.
      More unimaginative thinking from a government well out of it’s depth.

      Reply
      | Share | Report this comment
    • Revolting Peasant 22/02/12 #

      here’s some simple maths for you tom, in the last 2 budgets 10 billion has been cut from public spending, yet the deficit only shrank by 2 billion, (let me get my calculator) so it costs 5 billion to reduce the deficit by 1 billion? the deficit now stands round 17 billion or so, can you work out how much more needs to be cut from our small economy before we get to the .5% demanded by the troika?

      Reply
      | Share | Report this comment
  • Yvonne Callaghan 22/02/12 #

    We have been sold down the swanny all right now that we will have nothing to sell will they march us out to take our blood. God i hate these people who think say they are working for our Country and its really only to swell their bank balance. As your man from the tv progamme the Rolly says Patriots my ass

    Reply
    | Share | Report this comment
  • Rita Cahill 22/02/12 #

    This is a Disaster for The Irish People That The Government would Sell off Our Irish Silver Jewel Assets” They will be Responsible for what they are about to do” this is What is Protecting the Economy at present” all they had to do was get some People Employed that would Take the Average Wage not at a Very High Cost but a little lower than the Employees who have been a little unfair in over deluging themselves and wanting higher wages” now the Country will be Privatized Like England and you all know the disaster that came out from that” a few Accidents and Deaths by their rail System and Bus services” Prices will Rocket Up High” the Dutch and Swedish and Germany and France have their hands on our Assets you may forget Irelands independence and History ( RIP ) Very Sad indeed” I Don’t Know Why People are not Shouting on the Streets in Protest “ Shouting the Men out in Blue Get out of the Dial and We Want a Vote” we Have The Right to vote on This”
    Rita Cahill

    Reply
    | Share | Report this comment
  • Mark Rodgers 22/02/12 #

    Reada

    The Bank Guarantee was made by the last Government under duress and with false information!

    With these words you condemn your own argument as the Government is sovereign in its decisions and you confirm that these decisions were made. I trust you are not arguing that the State didn’t have competence to arrive at its solemnly binding decision. Indeed the binding is greater in these circumstances when compared to an individual obtaining say a bank loan or a mortgage.

    So you now accept the State or us the People have full liability for the monies lent to us by the Troika and the terms of those loans were linked to the repayment of all other sovereign debt. What is there to argue about.

    Reply
    | Share | Report this comment
  • Luke Ó Rourke 22/02/12 #

    selling off some power stations and gas works doesn’t sound to bad to me and we keep the vital networks! the increase in competition alone will bring in jobs and prices are going up regardless of who owns these assets.
    1bn of investment is great news over the next two years or so and will create jobs.
    also we still have the esb and bord gais so they will be competing on price.
    also people are saying the trokia demand 2 bn in sales and we get 1 bn but wasn’t the figure 5 when ff signed up to it so fair play to reducing the amount by an effective 3 bn!

    Reply
    | Share | Report this comment

Add New Comment

Read Next:

At least 14 killed in Afghanistan suicide blast Afghanistan

Most Popular Today

TheJournal.ie
1
Bookie to refund bets on Ryan Dolan: ‘He didn’t deserve to finish last’
28,655  98
2
Cyclist in his 80s dies after being struck by car
21,910  108
3
Student accidentally shot dead by police while aiming for burglar
21,281  75
Business ETC
1
Big-brand logos that you should look more closely at
30,138  29
2
500 million searches a day are for things Google has never heard of
13,579  18
3
Yahoo! approves deal to buy Tumblr in $1.1bn takeover – report
7,547  5
TheScore.ie
1
8 of the best quotes on the opening day of the 2013 Sunday Game
23,699  37
2
As it happened: Premier League, final day
13,286  25
3
“If the Lions called Donnacha Ryan up tomorrow, he could play”
11,662  4
DailyEdge.ie
1
13 things from the Celtic Tiger you don’t see anymore
37,060  79
2
9 things you always leave until the last minute
34,969  55
3
4 social networks young people use that will make you feel old
21,185  28

Trending Tags

ROW
Poll: Should Alan Shatter have made his Prime Time comments?
Poll: Should Alan Shatter have made his Prime Time comments?
Taoiseach backs Shatter in penalty points row with Wallace
Bus Éireann services to run as normal tomorrow
ABORTION
LIVE: Oireachtas hearings on planned abortion laws
LIVE: Oireachtas hearings on planned abortion laws
The 9 at 9: Monday
Psychiatrists to address Oireachtas abortion hearing today
GARDAí
Romanian gang found with â¬5k worth of stolen perfume, clothes and laptops
Romanian gang found with €5k worth of stolen perfume, clothes and laptops
Two gardaí in hospital following assault during Dublin house search
Body of man (20s) found in Tallaght field
IRELAND
WATCH: Drag queen falls off the stage at The Dragon in Dublin*
WATCH: Drag queen falls off the stage at The Dragon in Dublin*
Column: In Ethiopia, ordinary Irish people doing extraordinary things in difficult circumstances
Poll: Have you reduced your alcohol consumption in the past year?
USA
USA on alert of invasion… from cicadas
USA on alert of invasion… from cicadas
50 years ago, these last prisoners left Alcatraz forever
Taoiseach to lay wreath at bombing memorial during Boston trip
ENDA KENNY
Enda Kenny to receive honorary doctorate from Boston College today
Enda Kenny to receive honorary doctorate from Boston College today
The 9 at 9: Sunday
Enda Kenny played a ‘significant role’ in the Celtic Tiger, says US college

About Us

Follow Us

Corrections

Policies

Content copyright © Journal Media Ltd. 2013 Registered in Dublin, registration number: 483623. Registered office: 3rd floor, Latin Hall, Golden Lane, Dublin 8.

Please note that TheJournal.ie uses cookies to improve your experience and to provide services and advertising. For more information on cookies please refer to our cookies policy.

News images provided by Press Association and Photocall Ireland unless otherwise stated. Irish sport images provided by Inpho Photography unless otherwise stated. Wire service provided by Associated Press.

Journal Media does not control and is not responsible for user created content, posts, comments, submissions or preferences. Users are reminded that they are fully responsible for their own created content and their own posts, comments and submissions and fully and effectively warrant and indemnify Journal Media in relation to such content and their ability to make such content, posts, comments and submissions available. Journal Media does not control and is not responsible for the content of external websites.

Switch to Mobile Site

Sites: TheJournal.ie | BusinessETC.ie | TheScore.ie | DailyEdge.ie | Boards.ie | Adverts.ie | Daft.ie