New Agreement Could Let Ireland Keep More Of State Asset Sales

Following an agreement with the European Union-International Monetary Fund, Taoiseach Enda Kenny has announced that Ireland could hold back up to 50 per cent of the proceeds from the sale of State assets for domestic investment.

The original agreement allowed the State to keep just a third of total sales to spend on infrastructure and jobs.

“The change now is that that will be significantly higher. It could be – I stress could be – as high as 50 per cent,” said Mr Kenny.

Minister for Finance Michael Noonan and Minister for Public Expenditure and Reform, Brendan Howlin, would not be drawn on a figure during a press conference on the bailout programme review.

However, speaking in Dún Laoghaire, Co Dublin, Mr Kenny said another significant concession was that the Government could now start investing from the immediate sale of the proceeds “rather than having to wait until the end”.


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