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Dáil

Ceisteanna — Questions. Oral Answers. - Irish Steel Limited.

asked the Minister for Industry and Energy if an allocation from the Exchequer will be made to Irish Steel Ltd. this year; if he has taken a decision on the future of the company; and if he will make a statement on the matter.

Comment on this
Edward Collins Mr. E. Collins Fine Gael

The Government have made provision in the 1983 Public Capital Programme for £10 million of non-programme outlay for Irish Steel Ltd. At the Minister's request, the Minister for Finance subscribed £1 million of this total to Irish Steel's share capital on 16 February 1983 as an interim measure.

I am currently studying proposals for the company's future which will be brought to the Government in the next few weeks. It would, therefore, be inappropriate to make a further statement at present.

Comment on this

A Cheann Comhairle, I ask you to request the Minister when replying not to be glancing over very important public matters. It was very difficult even to hear some of the lines he was trying to muffle through. It is quite clear that there is an embarrassment for the Government in trying to answer some of those questions here.

Comment on this
Thomas J. Fitzpatrick An Ceann Comhairle Fine Gael

Has the Deputy a question?

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I have a straight question. Are the Government going to maintain Irish Steel? Yes or no?

Comment on this
Thomas J. Fitzpatrick An Ceann Comhairle Fine Gael

That is a straight question.

Comment on this
Edward Collins Mr. E. Collins Fine Gael

I stated in my reply, which obviously the Deputy did not hear, that I am currently studying proposals for the company's future which will be brought to the Government in the next few weeks. If I were to say anything further at this stage it would only jeopardise the situation of the company.

Comment on this

Will the Minister be recommending a "yes" answer to Deputy Reynolds' question?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

Obviously, I would be breaching confidentiality if I gave "yes" or "no" to that question.

Comment on this

The Minister's own confidentiality.

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Does the Minister intend to close Irish Steel?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

I stated in my reply that the matter would be considered by the Government in the next few weeks.

Comment on this

By the company or by the Government?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

The Government. If the Deputy was not listening to me I cannot help that.

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I understood the Minister to say that the Minister for Finance put £1 million into Irish Steel earlier this year as an interim measure. Did I get him correctly?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

Yes, that is correct, on 16 February 1983, as an interim measure. As I stated in my reply, £10 million has been provided in a non-programme outlay in the current year for the company.

Comment on this

Arising out of the fact that it was £1 million and I heard the Minister correctly, what was the request from the company, for what amount? Was it £10 million or £10 million plus?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

The amount subscribed was sufficient to allow the company to continue.

Comment on this

What was the request?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

Pending a decision by the Government, I have not got the actual request.

Comment on this

Why not the full £10 million?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

The £10 million is available should it be needed to ensure the company's continuation.

Comment on this

What does the Minister mean by "shortly"? Is it a week, a month or six months?

Comment on this
Edward Collins Mr. E. Collins Fine Gael

I said in the next few weeks.

Comment on this

A final supplementary.

Comment on this
Thomas J. Fitzpatrick An Ceann Comhairle Fine Gael

A final supplementary from Deputy Reynolds. I appeal to Deputies who are in the House when the House is in formal session to use the seats in the House, please.

Comment on this

Did I hear the Minister correctly that £10 million is being provided in the Public Capital Programme as a non-programme outlay this year and that is the sum total of the provision he has made for Irish Steel? Would the Minister accept that £10 million would not keep Irish Steel afloat for the rest of this year and that the questions we were asking him earlier are now being answered? Irish Steel will close if that £10 million is the total provision.

Comment on this
Edward Collins Mr. E. Collins Fine Gael

The Deputy cannot assume anything from my reply. The amount included in the non-capital programme is a satisfactory figure which, if needed, can be increased upon by a Government decision.

Comment on this