Begg cautions against ‘sell-off’ by state

PRIVATISING semi-state companies in order to raise desperately-needed cash for the Exchequer would be like “selling off the family silver”, the country’s most senior union leader has said.

David Begg, the general secretary of the Irish Congress of Trade Unions, said such a move would be counter-productive. He was reacting to the announcement by the Government that it is establishing an expert group to “assess the scale and value” of the semi-states.

While the Government insists this is a prudent “stock-taking” exercise, it hasn’t ruled out selling some of the semi-states – a move which could potentially raise billions and reduce the need for tax hikes and spending cuts.