Wednesday 7 December 2016

It's decision time on semi-state sell off

Published 28/04/2011 | 05:00

THE attack by ESB chief executive Padraig McManus on the McCarthy report's observations on his company is one for students of accountancy. It appears to centre on how to treat the cost of giving extra years' pension entitlement to workers who avail of early retirement.

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Or perhaps not. The best the non-accountant can say is that ESB pensions are very generous, but won't be as generous in the future. The significant thing is not the argument, but that it is about the only discussion we have had since the report was published. It adds to a palpable sense of inaction; in stark contract to the promises that the first 100 days of the new government would be ones of shock and awe.

Things are not helped by the spectacle of that most discredited of political activities, elections to the Seanad. It may have been impractical to try to cancel or postpone the elections, but they should be occurring in the context of firm evidence that they will be the last of their kind.

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