Dáil Éireann - Volume 567 - 28 May, 2003

Written Answers. - State Bodies.

  139. Mr. Boyle asked the Minister for Finance the proportion of the dividend secured by his Department from the profits of Aer Rianta which will be re-deployed in projects that assist the development of aviation infrastructure. [14797/03]

  Minister for Finance (Mr. McCreevy): As stated in the published code of practice for the governance of State bodies, and as reiterated in the report of the Independent Estimates Review Committee (2002) the Government expects commercial State companies to have a dividend policy which has as its objective the payment of a full commercial dividend to its shareholder. The payment of a dividend by Aer Rianta is to be seen in this context. Dividends from State companies are paid into the central fund as Exchequer extra receipts. They are accordingly used to fund Exchequer spending generally, rather than earmarked for any particular sector. The development of aviation infrastructure in the State-owned airports is the responsibility of Aer Rianta and is financed by its airport charges and other income.