Mr. Fred Barry:

The Comptroller and Auditor General referred in his report to the need to do post-project reviews. Typically, we do such reviews some years after a project is finished so that things have settled down. We have started this year on doing the cycle of post-project reviews on the PPP schemes that were opened in the 2000s. The first we are doing is the N4 Kilcock to Kinnegad scheme but we will also revisit the M3 and the Limerick tunnel. We have done preliminary calculations on the cost benefit ratios to see how they stand up in light of reduced traffic giving reduced benefits and the costs, including the additional costs we are paying through the traffic guarantees. It is very clear, even from the preliminary calculations, that both schemes are still delivering good value in that the benefits to the public are still well in excess of the costs.