Menu
23/07/2010
State Assets' Future Face Review
The Minister of Finance has appointed a review group to look into whether there should be some selling off of Ireland's state assets to balance the books.
Airports, ports, RTÉ, TG4, Dublin Bus and the ESB are included in a list of State companies the government-appointed group will consider selling to cut the €84 billion national debt. The ESB’s assets, its power plants, networks and energy business, are valued at €7 billion while Bord Gáis has assets worth €3.5 billion.
Other "intangible" assets are also being considered, including Irish radio spectrum that is currently allocated for broadcasting and telecommunications, carbon emissions permits, and mineral, hydrocarbon and other licences issued by the state.
The Group is to carry out its analysis in the coming months and report to the Minister by the end of the year. As part of this, the Group will consult closely with those government departments and the departments that have oversight of the relevant assets, including commercial semi-state companies and regulators.
So far the members of the Review Group are University College Dublin economist Mr Colm McCarthy, Department of Finance Second Secretary Mr Donal McNally and Trinity College Dublin economist Professor Alan Matthews.
Mr Lenihan said the groups initial focus would be commercial State companies before looking at other assets, such as the radio spectrum, used to carry mobile phone and TV signals, and mining and exploration licences.
Eamon Ryan, the Minister for Energy and Natural Resources, whose department is responsible for many of the companies and assets involved, indicated that he would not like to see energy companies such as the ESB and Bord Gáis sold.
The Minister said he wanted to engage fully with the group, and would both listen to it and make his own views known.
(DW/KMcA)
Airports, ports, RTÉ, TG4, Dublin Bus and the ESB are included in a list of State companies the government-appointed group will consider selling to cut the €84 billion national debt. The ESB’s assets, its power plants, networks and energy business, are valued at €7 billion while Bord Gáis has assets worth €3.5 billion.
Other "intangible" assets are also being considered, including Irish radio spectrum that is currently allocated for broadcasting and telecommunications, carbon emissions permits, and mineral, hydrocarbon and other licences issued by the state.
The Group is to carry out its analysis in the coming months and report to the Minister by the end of the year. As part of this, the Group will consult closely with those government departments and the departments that have oversight of the relevant assets, including commercial semi-state companies and regulators.
So far the members of the Review Group are University College Dublin economist Mr Colm McCarthy, Department of Finance Second Secretary Mr Donal McNally and Trinity College Dublin economist Professor Alan Matthews.
Mr Lenihan said the groups initial focus would be commercial State companies before looking at other assets, such as the radio spectrum, used to carry mobile phone and TV signals, and mining and exploration licences.
Eamon Ryan, the Minister for Energy and Natural Resources, whose department is responsible for many of the companies and assets involved, indicated that he would not like to see energy companies such as the ESB and Bord Gáis sold.
The Minister said he wanted to engage fully with the group, and would both listen to it and make his own views known.
(DW/KMcA)
Related Irish News Stories
Click here for the latest headlines.
12 September 2011
No Decision On State Asset Sales, Says Rabbitte
The Irish Government must draw up a list of state owned assets by a deadline set by the country’s troika of lenders. Ireland's Energy Minister Pat Rabbitte has revealed that The European Union (EU), the International Monetary Fund (IMF) and the European Central Bank are urging the government to create a list of state assets worth €5bn.
No Decision On State Asset Sales, Says Rabbitte
The Irish Government must draw up a list of state owned assets by a deadline set by the country’s troika of lenders. Ireland's Energy Minister Pat Rabbitte has revealed that The European Union (EU), the International Monetary Fund (IMF) and the European Central Bank are urging the government to create a list of state assets worth €5bn.
13 March 2024
First And Deputy First Minister To Celebrate St Patrick's Day In US
The First and Deputy First Minister will travel to the United States this week for a series of St Patrick's Day engagements in Washington DC. The visit will focus on showcasing the local economy and develop key relationships and networks across the U.S. Ministers will attend the NI Bureau Breakfast, Ireland Funds Gala, a meeting with the U.S.
First And Deputy First Minister To Celebrate St Patrick's Day In US
The First and Deputy First Minister will travel to the United States this week for a series of St Patrick's Day engagements in Washington DC. The visit will focus on showcasing the local economy and develop key relationships and networks across the U.S. Ministers will attend the NI Bureau Breakfast, Ireland Funds Gala, a meeting with the U.S.
29 September 2011
Govt In 'Fairyland', Say SF
A call has been made for the State’s energy companies to be "safe-guarded" and used to re-grow the economy – not sold off. Sinn Fein (SF) has accused the Government of "short-sightedness" after announcements this week that more assets will be sold in addition to the minority stake in the ESB already announced.
Govt In 'Fairyland', Say SF
A call has been made for the State’s energy companies to be "safe-guarded" and used to re-grow the economy – not sold off. Sinn Fein (SF) has accused the Government of "short-sightedness" after announcements this week that more assets will be sold in addition to the minority stake in the ESB already announced.
20 April 2011
McCarthy Report To Outline Gas And Electricity Merger
As part of the McCarthy report on State companies, the Government is expected to recommend a merger of the country's gas and electricity networks later today. The outlined move is among 50 other recommendations. The report will review how State companies are run and as to what can be sold, however it will advise against a fire sale of assets.
McCarthy Report To Outline Gas And Electricity Merger
As part of the McCarthy report on State companies, the Government is expected to recommend a merger of the country's gas and electricity networks later today. The outlined move is among 50 other recommendations. The report will review how State companies are run and as to what can be sold, however it will advise against a fire sale of assets.
19 September 2011
Union Warns Against 'Knee-Jerk' Reactions At ESB
A leading trade union has warned that reflex reactions at the State’s Electricity Supply Board (ESB) will play into the hands of the privatisation lobby. The Government has agreed to sell off a minority stake in the semi-state company to meet commitments under the EU/IMF bailout deal.
Union Warns Against 'Knee-Jerk' Reactions At ESB
A leading trade union has warned that reflex reactions at the State’s Electricity Supply Board (ESB) will play into the hands of the privatisation lobby. The Government has agreed to sell off a minority stake in the semi-state company to meet commitments under the EU/IMF bailout deal.
-
Ireland WeatherThis Evening and Tonight:Showers gradually die out to leave good clear spells in the evening and overnight. This will allow a few fog patches to develop in places. A cold night with some ground frost. Minimum temperature 2 °C.
