Dáil Éireann - Volume 487 - 17 February, 1998

Written Answers. - Employee Shareholding Schemes.

120. Mr. Creed asked the Minister for Public Enterprise her views regarding staff shareholding in CIE; and if she will respond to views expressed by CIE executives that staff should be given a shareholding of up to 15 per cent in the company. [3869/98]

Minister for Public Enterprise (Mrs. O'Rourke): I have not received any proposal regarding a staff shareholding in CIE. Were I to receive such a proposal, it would be considered on its merits in the light of prevailing circumstances and in accordance with the provisions of An Action Programme for the Millennium. The programme commits the Government to the development of public enterprise in this country and makes it clear that employee shareholding in State companies may be a conduit for raising capital for the further development of the commercial State sector.

An additional factor which would have to be taken into account in considering any proposal relating to CIE would be the implications of converting the company from its existing status as a statutory corporation without a shareholding to that of a limited company.