Bookmark and Share
19/05/2017

SIPTU Condemns Govt Decision To Sell AIB Shares

The Government's decision to sell a 25% stake in its holdings in AIB has been described as "absolutely indefensible" by SIPTU President Jack O'Connor.

In a statement from the union, Mr O'Connor said that the sale was undemocratic and in direct contravention of a resolution of the Oireachtas. He said that the proposal to use the proceeds of the sale to pay off part of the national debt is scandalous and a waste of precious financial resources that could be used to resolve the dire housing crisis.

He said: "This absolutely indefensible proposal by the Fine Gael/Independent Alliance to sell 25% of the Government shareholding in AIB is in direct contravention of a resolution of the Oireachtas yesterday which called for any such sale to be delayed until the Eurozone fiscal rules are re-interpreted to allow for such revenues to be channelled directly into resolving pressing emergencies such as the housing crisis.

"Before any shares are sold, there should be a national debate as to whether it is right to sell them off at all, in any circumstances, because of their strategic potential in the context of an uncertain future. If they are to be sold off, it should only be in order to realise the resources to address the scandalous housing crisis to which our banking system directly contributed.

"The Fine Gael/Independent Alliance administration is now proceeding to do something even the Turkish dictator Erdogan wouldn't do which is to press ahead with this share sale in direct contravention of a resolution of a democratically elected parliament. It is time to call a halt to this unnecessary move which will have an insignificant impact on the debt/GDP ratio, which in any event is improving more rapidly than in any country in the EU by a country mile, while wasting badly needed fiscal resources at a time of an unprecedented emergency in the supply of social and affordable housing."

(MH/LM)

Related Irish News Stories
Click here for the latest headlines.

22 September 2017
Govt Urged To Commit To 50,000 Social Housing Units
The Irish Congress of Trade Unions (ICTU) has called on the government to urgently initiate a major local-authority led programme to generate 50,000 social housing units over the next five years.
28 August 2015
Sinn Féin's Opposition To Housing Plans 'Almost Beyond Belief' - Dowds
Sinn Féin's opposition to a proposal to build 50 new social housing units in Clondalkin has been described as an "absolutely disgrace and almost beyond belief". Labour TD Robert Dowds accused Cllr Eoin Ó Broin of "complete political cowardice", and that it was people on the housing waiting list that would suffer as a result.
07 August 2014
Govt Accused Of Ignoring Scale Of Housing Crisis
The government has been accused of maintaining policy that ensures a "huge" housing shortage, Sinn Féin leader Gerry Adams has said. Mr Adams also accused the government of failing to "face up" to the scale of the housing crisis, particularly in the Greater Dublin area.
28 May 2015
SF Hits Out At FF Over Sale Of Aer Lingus
Sinn Féin has hit out at Fianna Fáil over the sale of Aer Lingus. Laois and Offaly TD, Brian Stanley, said that Fianna Fáil had initiated the privatisation of Aer Lingus in 2006 when they placed 75% of its shares on the stock exchange.
18 January 2016
IDA Ireland Employment Up 8% In 2015
New figures from IDA Ireland have revealed that almost 6,000 new jobs were added to the Dublin economy in 2015, an increase of 8% on 2014. Welcoming the news, Fine Gael TD for Dublin South Central, Catherine Byrne, said the positive employment figures show that continued job creation will keep the recovery going in Dublin.
15 August 2013
Walsh Concerned For Irish Citizens In Cairo
Fianna Fáil Seanad Spokesperson on Foreign Affairs, Jim Walsh, has called on the Minister for Foreign Affairs to make direct contact with Egyptian authorities to express his concern for Irish citizens in Cairo. Having visited there last week, Senator Walsh said the rapidly deteriorating situation is a huge cause for concern.
07 June 2013
Missing Child Hotline Officially Launched
After six months in operation, the Missing Children’s Hotline has today been officially launched. The 116 000 number will be in operation 24 hours a day and 365 days a year.
16 November 2015
Plans To Sell Social Housing Unit With 60% Reduction 'Unacceptable'
The government's proposal to offer a 60% discount in the sale of social housing units has been described as "unacceptable" and a "move to further separate the state from housing provision and would lead to housing shortages into the future", according to Sinn Féin Housing spokesperson Dessie Ellis.
24 November 2015
Hospital Crisis Direct Result Of Govt Underfunding
The current crises in hospitals is a direct result of government underfunding, Sinn Féin President Gerry Adams has said. Deputy Adams said the decision in favour of strike action by nurses is a completely understandable response by frontline health workers who perform heroics on a daily basis.
29 November 2013
Unfinished Housing Developments Report Published
Minister for Housing and Planning, Jan O'Sullivan, TD, has published the second annual progress report on tackling the issue of unfinished housing developments which points to "even more progress in bringing to a conclusion this most distressing of circumstances left over from the doomed tiger years.
11 December 2012
SIPTU Supports Byrnes Pharmacy Workers
SIPTU has supported a protest today by workers at Byrnes Pharmacy in Stoneybatter, Dublin. Staff decided to protest outside the store from 12.00 a.m. to 2.00 p.m. to highlight their frustration with a management refusal to negotiate with their union, SIPTU.
27 March 2014
Unfinished Housing Site Sells For Over €800,000
The unfinished housing development of Coill Rua in Mullingar, Co Westmeath, has sold at auction for more than €200,000 over its guide price. The sale included the site, which has 12 units at various stages of completion, and an adjoining area. Planning permission was granted for the site in 2006, allowing for 89 houses.
29 September 2015
DCC Call For Housing Crisis To Be Declared 'National Emergency'
Dublin City Council housing committee has voted unanimously to call on Minister Alan Kelly to declare the housing crisis a 'National Emergency'. The council took the vote at a meeting held on Monday night. Speaking after the meeting, Cllr.
20 August 2015
New Policy Launched To Tackle Growing Rent Crisis
Fianna Fáil has published a policy document aimed at tackling the "growing national rent crisis".
18 August 2015
Sinn Féin Announces Housing Crisis Events
Sinn Féin has announced a series of events to raise awareness of the current housing crisis in Dublin and to demand action from the government. Chair of Dublin City Council Housing SPC, Cllr. Daithí Doolan, said: "We are in the midst of an unprecedented housing crisis. Nowhere is that more evident than here in Dublin.