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Seanad
‹ Order of Business

AIB sale motion amendment

Summary

The Chair and Senator Bacik discussed whether a Labour motion on delaying the AIB sale could be accommodated, and Bacik proposed that the Minister for Finance come to the House today for a debate and vote. The proposal was noted and referred to the Leader.

Denis O'Donovan An Cathaoirleach Fianna Fáil

It is not on the Order Paper so I am not sure that we can deal with it.

Comment on this

I am asking the Leader to amend the Order of Business that we might have a debate on the text of the motion. It has been circulated. I know it is not on the Order Paper but I am conscious that the decision-----

Comment on this
Denis O'Donovan An Cathaoirleach Fianna Fáil

I think it can be circumvented that way.

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I think I can circumvent it.

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Denis O'Donovan An Cathaoirleach Fianna Fáil

I bow to the Senator.

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Given that the decision was made by Cabinet yesterday, flying in the face of the Dáil vote in support of the Labour Party motion on 18 May to delay the sale of AIB shares, and given that we will not sit for another two weeks, I will not have an opportunity to put this motion again. I am asking that the Leader take account of this. I know we have a busy day today but I am conscious that we have an extra half hour to spare given that the time allocated to Private Members' business has been reduced. On behalf of the Labour Party Senators, we would be happy to take the motion in the Minister's absence and vote on it in this House. It is a matter that is quite urgent.

Senator Conway-Walsh has spoken eloquently about the rationale for the motion, but briefly, in order that colleagues are aware, the motion simply calls on the Government to postpone the sale of AIB shares until we have sought and achieved a change to fiscal rules to permit greater levels of capital spending. It is somewhat ludicrous that the Minister for Finance has admitted that the proceeds of the sale of 25% of AIB will pay down just over 1% of our national debt. We in the Labour Party say that a far better use of the funds would be to put it towards capital investment, the investment that we all acknowledge is needed. Just this week, the future of health care report was published. Labour's Deputy Alan Kelly was on the committee and Labour has welcomed it, as have all parties. The report outlines an ambitious plan towards a single-tier health system but a key part of the plan is a €3 billion transition fund to provide for one-off system-changing measures. We say that fund would be a far better location for the proceeds of the sale of AIB. We need to delay the sale of our share in AIB to ensure that we can in fact put it towards investment in health or housing or public expenditure of the sort that is so desperately needed across the public service.

There was support across the Dáil for this motion and I ask colleagues across the House to support my proposed amendment to the Order of Business in order that we can take this urgent motion today.

Comment on this
Denis O'Donovan An Cathaoirleach Fianna Fáil

For clarification, I take it that the Senator is proposing a debate with the Minister of Finance on the proposed sale of AIB shares be taken today?

Comment on this

Yes, I am proposing that although we would be happy to have the debate in the Minister's absence if his availability is a difficulty.

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Denis O'Donovan An Cathaoirleach Fianna Fáil

We will hear the Leader's response.

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We wish to have a debate on the motion and a vote on the motion today.

Comment on this