Government should commit AIB proceeds to Future of Health

Issued 30 May 2017

Labour Leader Brendan Howlin has again called on the Cabinet and Michael Noonan to postpone the sale of AIB shares. The decision of the Minister for Finance to proceed with the IPO despite the decision of the Dáil is undemocratic.

Following the publication of the Future of Healthcare Report, the Labour Party is now calling on the Government to show it's commitment to the plan by ring fencing the proceeds from the sale of AIB for the €3 billion Transition Fund.

Deputy Howlin said:

"Despite the decision of the Dáil to postpone the sale of AIB, the Cabinet is this morning being briefed on the plans of the Minister for Finance to ignore that democratic decision and proceed with a sale of 25% of the bank that was bailed out with the people's savings in the National Pension Reserve Fund.

"Today the Future of Healthcare report was published outlining an ambitious path towards a single tier health system.

"A key part of the implementation plan is a €3 billion transition fund to provide for one-off system changing measures, increased training and capital expenditure.

"The proceeds of sale of 25% of AIB will pay down just over 1% of our national debt.

"Instead we should seize this opportunity to transform our healthcare system, and show real political commitment to implementing the recommendations of the Future of Healthcare report."