Sinn Féin: State assets sale 'bad deal' for citizens

Opposition parties are hitting out at the Government's proposals on the sale of some state assets.

Opposition parties are hitting out at the Government's proposals on the sale of some state assets.

Fianna Fáil has again insisted that the decision is solely the coalition's policy as the previous Government did not sign up to such a move.

Sinn Féin has meanwhile accused Fine Gael and Labour of "flogging off the State's wealth for a quick buck".

Party president Gerry Adams said he believes the move will result in job losses and increased prices for consumers.

"Instead of flogging off the State's wealth for a quick buck, the Government should make commercial state companies part and parcel of the solution" he said in the Dáil.

Deputy Adams said it was a "myth" to say that privatisation and deregulation bring competitiveness and efficiencies in State bodies.

"It will mean job losses, increased prices for the consumers and big profits for private speculators," he added.

Sinn Féin Public Expenditure and Reform spokesperson Mary Lou McDonald meanwhile described the state asset disposal announcement as a "bad deal" for citizens and the State’s economic future.

“Selling off parts of successful self-financing commercial State companies is a bad policy decision made by Fine Gael and Labour, despite their best efforts to lay the blame for their decision at the door of the Troika," Deputy McDonald said.

"If this Government was serious about job creation and reinvestment in the economy it would not be paying out tens of billions of citizens hard earned cash to unguaranteed Anglo bondholders."

Meanwhile Socialist Party TD and Aer Lingus employee Clare Daly said the privatisation of state assets will come at the cost of jobs and democratic control over vital services and infrastructure.

"A key feature of the crash in Ireland has been a catastrophic collapse in private sector investment," Deputy Daly said.

"Rather than trying to sell off valuable state assets to this same private sector we need instead to be enhancing the role of the state in job creation through both emergency necessary public works and an expansion of state enterprises.

"As a class working people should have democratic control over key aspects of economic life in this country," she added.

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