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Government spending review cannot be used as cover for sale of state assets

11 April, 2011 - by Mary Lou McDonald TD

Sinn Féin Spokesperson on Public Expenditure and Reform, Mary Lou McDonald TD, has said the spending review across all Government departments announced today must not be used as cover for the sale of state assets.

Speaking today Deputy McDonald said:

“The continuation of the previous Government’s policy of cuts cannot and will not stimulate the economy. It can only further suppress the economy.

“Sinn Féin has said that the National Pension Reserve Fund should be used to stimulate growth in the economy rather than propping up toxic banks.

“We support cutting waste in the public sector but this but this must begin at the top with a cut in the salaries of top level civil servants. The quality of public services must be paramount in any review.

“A report by UCD economist and author of the Bord Snip report Colm McCarthy is understood to recommend selling state companies and assets with a book value of €5 billion over the next few years.

“The report was delivered to finance Minister Michael Noonan last week and is likely to go to cabinet today.

“This report, coupled with the review of spending, must not be used as cover for the sale of state assets such as Bord Gáis and the ESB.” ENDS

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