Kelly concerned over sale of state assets

A Wexford Sinn Féin rep has raised concerned over the new government’s plan to sell up to €2 billion in state assets.  Cllr Anthony Kelly has said that such a move will lead to the loss of strategically important national services; the sale of which will generate profit that will be moved directly into paying back toxic loans.

“Last week we saw Mr Noonan get backing from the EU and IMF to put a reckless Fine Gael plan into motion that will result in the sale of profitable publicly-owned companies such as ESB, Bord Gáis and An Post,” Cllr Kelly said.  “The coalition government are stating that funds raised from the sale of these state assets will be used to fund a job creation programme.  This will not be the case, as the IMF will not allow it.  As we have seen in Greece and other nations where the IMF has arrived, the wholesale sell off of state assets to repay debts is common practice.  We in Sinn Féin fear that this government is on the verge of selling off profitable public companies to make more money to throw into the growing bank debt hole.”

“The programme for government states that the government will be guided in relation to any sale by the McCarthy report.  Professor McCarthy is likely to recommend a large scale sell off of state assets, including either a part or total sell off of Coillte.  Given that this group controls 7% of the states land, the projected loss from the coalitions ‘car boot sale’ could be devastating for generations to come.”