Mick Wallace The House of 'An #Garda Siochana' is falling down around the Commissioner's ears, while Gov buries head in sand...https://t.co/VLWwtlEDkm
Mick Wallace The #Monsanto that got to meet our Minster for Agriculture, no doubt making strong arguments in the interest of our… https://t.co/UVHZH5da01
Mick Wallace Government has been dragged kicking + screaming to an Inquiry into #NAMA, after almost 2 years - all the while NAMA… https://t.co/3MmgmPWgP6
Mick Wallace + It is essential to Legislate, to avoid pitfalls of IBRC Inquiry - to prevent individuals hiding behind 'Confide… https://t.co/ubFnCa3dTC

ukjkSinn Féin's State Assets Motion was debated in the Dáil on Wednesday, February 29th. The motion calls on the Government to review its decision to privitise state assets and enterprises given the potential these bodies have to return profits to the state. In supporting the motion Mick insisted that retaining state assets was imperative as their value is below their worth at present. He also points that selling state assets impacts negatively on employment in a recession. You can watch the full speech here.

I am not convinced selling State assets is a good idea, especially at the current time. The Government has assured us it will get value for money but it is obvious that getting a proper price for anything is practically impossible. The short-term benefit will be outweighed by any long-term damage. There are many reasons that a state should retain some control over its assets. I was surprised to see how many State companies have been privatised. The current list stands at ten. It has been a problem in Ireland, England and Europe. Many public assets in Europe have been sold off, which has left countries far less capable of dealing with unemployment now that we are in a recession. I do not want to compare everything to China, but it was able to deal with the crisis. It was able to control its banks and tell them what to do in order to maintain funding. It had far more financial and industrial leverage to drive economic growth because it had such control over its state organisations. It is a pity we do not have more control of ours. I understand that Government has signed up to a deal by whereby it is obliged to sell something. I do not think there is much economic logic to it. I would be suspicious that the aims of the troika are more neo-liberal than economic, given that we will not get much of a price for our assets.

namaleaks

THE TRUTH IS COMING....

Namaleaks is a project that seeks to uncover possible injustice and poor practice related to NAMA (National Asset Management Agency) and financial institutions in Ireland.

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