Future of Irish Life plc
The Government is reviewing consultants’ recommendations on restructuring Irish Life, with no decision yet on its future or possible sale of shares. The Minister said he would bring the matter to Government and decide in due course, without committing to a House debate or public ownership.
asked the Minister for Finance if he will outline the Government's proposals for the future of Irish Life plc; and if he will make a statement on the matter.
Comment on this
No decision has been taken concerning the future of the company. As announced in July 1988, the Government decided that Irish Life Assurance plc should be restructured to facilitate its development into an Irish based international services company in the insurance field and that consultants should be appointed to advise in this regard.
The consultants have completed their examination and their report is being studied.
Comment on this
Can the Minister either confirm or deny reports to the effect that the consultants are recommending a sell-out of 50 per cent of the shares? Have the Government considered this, and what is their attitude to it?
Comment on this
The consultants are making a variety of recommendations which will be studied before I will comment any further on them.
Comment on this
When will the Minister inform the House of the Government's decision? Will he provide an opportunity in this House for a debate on such a decision?
Comment on this
The consultants' report and recommendations are being studied in my Department at the moment, then I will take the matter to Government for consideration. That is the procedure from here on.
Comment on this
The question was whether the Minister will provide an opportunity for this House to debate the Government's decision on Irish Life plc whatever it may be. Will the Minister retain them in public ownership or privatise them?