Possible sale of Irish state assets

Faced with a continued difficult fiscal situation, the Irish government has set up an expert group, headed by economist Colm McCarthy, to advise on the possible sale of a range of state company assets, including parts of Bord Gáis and ESB, the Irish gas and electricity companies respectively.  Ministers approved the establishment of the group last week, and its report is expected later this year.  McCarthy, the head of the review group, is the University College Dublin economist who authored a controversial report on public service activities for the Irish government, which recommended more than €5bn in cuts to public expenditures.

Selling such companies could raise billions of Euros for the exchequer, which would otherwise have to raise money through spending cuts or tax increases. Some reports have suggested that the Department of Finance is in favour of selling several such companies.

Frontier (Europe) advises ESB, Bord Gáis and the Irish government Department of Communications, Energy and Natural Resources.

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