This morning, out of the blue, we learned that the Minister for Finance plans to flog off the remaining shares we own in Bank of Ireland. If we have learned anything from the crash it is that holding on to these shares puts a condition of good behaviour to some extent on the banks.

The Minister has not told us what he is going to do with the shares, so I will ask the Taoiseach directly, for the people of Ireland. It is estimated that €700 million will be raised from the sales. On behalf of the Irish people, what are the Government’s plans for this money if it goes ahead with the sale? Surely the Government is not going to pay down debt but rather use it to solve the housing crisis. Will the Taoiseach outline to us what the Government is going to use the money for? Is it for debt or housing?

Deputy Kelly is correct that the Minister for Finance announced this morning that the Government's intention is to sell part of the State's remaining 13.9% shareholding in Bank of Ireland over approximately the next six months through a trading plan. The State intervened more than a decade or so ago to rescue the Bank of Ireland. It protected the payments system, deposits, jobs and so on across the system. It has recorded a cash surplus to date on the investment. Approximately €5.9 billion has been generated, as against the €4.7 billion originally invested in the bank.

Deputy Kelly is also correct in saying that at the time of the commencement of the trading plan the State's remaining equity in the State bank is valued at around €700 million, but it can vary. Deputy Kelly is aware of the Government’s investment plans in terms of the recovery fund. The Government is in a proactive investment mode, in particular a public capital programme, both in housing, health and public transport. The national development plan will reflect that. We are in a deficit-----

The Taoiseach's time is up.

It is investment.