"AIB SHARES SHOULD BE USED FOR CAPITAL INVESTMENT AND TO GET METRO NORTH ON TRACK”

26 April 2017

Brendan Ryan Labour Party TD for Dublin Fingal, has called on the money raised from the Government stake in Aer Lingus to be directed towards investment in our health system and for getting Metro North on track.

"Last week the Dáil passed a Labour Party motion calling for the postponement of the sale of AIB shares until the proceeds can be invested in infrastructure.

"We have repeatedly called on the Government to engage with the European Commission to amend the rules to make that happen.

"The Labour Party has led the establishment of a working group in the Party of European Socialists to achieve this. Even Fianna Fáil has now adopted our position, writing to the head of the Commission last week.

"Meanwhile Minister's Noonan and Donohoe are sitting at a table in the European Investment Bank looking to increase our borrowings for investment.

"Instead, the possible €3 billion in proceeds from the sale of AIB could be invested in the schools, hospitals, roads and water infrastructure we need as outlined in the latest report from the European Commission. We have a need in North County Dublin to progress the Metro North project as soon as possible. We need to prioritise major infrastructure projects and none is more important than Metro North.”