AIB stake sale plans
Deputy McGrath asked whether the Government would proceed with an IPO sale of its AIB stake before recess and whether debt repayment was being driven by fiscal rules; the Tánaiste said the Minister for Finance would follow up directly.
Can the Tánaiste clarify whether the Government intends to proceed with the sale of its stake in Allied Irish Banks, AIB, by way of an initial public offering, IPO, before the summer recess? It is the Government's intention to use the proceeds from the sale of AIB to pay down debt. Is that because the Government believes it is the right thing to do or is it because it believes it must do so under the fiscal rules? We have written to the President of the European Commission seeking his support for a relaxation of the rules to allow at least some of the proceeds to be used for capital investment. Can the Tánaiste clarify the Government's position?
