Billy Timmins TD Wicklow & East Carlow has statedwe need to reinvent how we approach the ownership of state assets.
”RENUA Ireland believes that lessons must be learned from the history of Ireland’s attitude towards State assets.
In particular the ongoing issue surrounding oil licence fees for oil and gas has indicated the danger of putting the state rather than the people in charge of our natural resources.
To date only the few have benefited with regard to the dispensing of lucrative licenses during the recent history of the State.
RENUA Ireland believes this must be combated on two fronts.
Ireland needs a referendum where ownership of our natural assets will be transferred to the people rather than the state.
This will require enabling legislation to create a national sovereign wealth fund to manage State assets.
This is the model which was adopted by Norway and by the Shetland Islands in Scotland and it has proven to be a viable option for developing their natural resources.
Following, hopefully a yes vote such a referendum should restore ownership of natural assets to the Irish people.
This applies to our forests, bogs, parks and areas of natural conservation, our water and extractive industries like oil, gas and mineral wealth.
Critically in practical terms this will mean that Irish Water cannot be privatised.
This would also apply to our forests and similar natural resources.”