The Stormont Executive may revisit the controversial proposal to sell off
non-port land in the Port of Belfast, it has emerged.
The issue is back on the agenda after being raised in Sir David Varney's
follow-up report, which was published last month.
He suggested that the Executive could raise funds through the privatisation
of assets such as the Port of Belfast and the MoT vehicle test centres.
Belfast Harbour Commissioners (BHC) has fiercely opposed any moves to sell
off the non-port land, claiming this would amount to "asset-stripping"
But it is understood that outgoing Finance Minister Peter Robinson
recognises that in the present financial climate, privatising the port is
one of the options which the Executive may explore.
Party sources indicated that Mr Robinson — who is due to become First
Minister next month — does not believe that a sell-off at the Port has been
ruled out.
The reconsideration of the issue follows Gordon Brown's announcement of a
raising of the ceiling for the amount that the Executive can raise from
disposing of assets.
During his visit to the US:NI investment conference, the Prime Minister said
the amount the Executive could retain was being increased from £1.1bn to
£2.2bn.
One problem is that the falling property market means that the present
three-year programme is unlikely to raise as much as had been anticipated.
In the Executive's Programme for Government a commitment was made to have a
new harbours legislation in place by January.
In February, Regional Development Minister Conor Murphy granted the four
trust ports in Northern Ireland extended commercial powers.
But he also warned that the trust ports should be accountable for the "
significant assets" which they controlled.
In a response to Varney II Len O'Hagan, the BHC chairman, said Assembly
members had already concluded that privatisation would not be in the best
interests of the port or the economy.
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