Sinn Féin’s Aileen Cassidy has accused the Government of having “failed to provide any clear direction to what the market is going to be used for”.
The former Minister for Enterprise, Science and Employment, who is the Chairperson of the Social Protection Committee, said the Government’s plans to sell off CFD services were “not going away”.
Speaking on RTÉ’s Morning Ireland, Ms Cassidy said that the Government had been trying to sell the CFD to the private sector and that it was “not good enough”.
Ms Cassidy also said that there were concerns about the way the Government was managing the cost of the services and that the costs were “going to rise”.
“There is a concern about the cost,” she said.
“The costs of the CFDs are going to go up and they are going up in the future, and the Government has failed to provide clarity about how they are actually going to manage that.”
Ms Cassidy added that the government was “losing” the CFDS market, which had grown from $6 billion in 2008 to $20 billion in 2021.
“It is really a challenge for them, it is not just a question of saving it but really it is a question about how much do you want to spend on that market?” she said in an interview with RTÉ.
The Minister for Economic Development, Employment and Innovation, James Reilly, said that while the Government is aware that the market had grown, it did not intend to “run away from it”.
“The CFDs market is not changing and we recognise that,” he said.
But he added that a number of issues were still being addressed and the “cost of the service is going up”.
“We are very conscious that the service market is growing and we want to maintain that growth.”
The Minister said that he would continue to look at ways of supporting the CFDE market.
“We’re not looking to be running away from the market and we are going along with the market,” he told RTÉ News.
We are going forward with a focus on building the market. “
This is a sector that has been growing in the market for many years.
We are going forward with a focus on building the market.
We’ve had a successful market for the last three years and we’ve got to ensure that it’s robust in the medium term.”
The Taoiseach also confirmed that the Social Welfare Committee would continue its work to find solutions to the challenges facing the sector, including on the cost.