Evidence shows sale of key state assets will cost us vastly more

THE McCarthy Report on State Assets and Liabilities is short-sighted, contradictory and seems to have little regard for the state’s strategic position in fostering future economic development in Ireland.

Its logic on the sale of parts of the ESB and Bord Gáis, the two most valuable companies, is perplexing to say the least. It says that the ESB distribution business, its power generating assets and its international businesses should be sold off right away but that the transmission facilities should be kept in public ownership.

Energy and electricity are getting more expensive. The Government can keep energy prices down to make businesses more competitive to generate employment, once they are kept in public ownership. After all, the state does not have to add on a margin to make a profit.