Oireachtas Joint and Select Committees
Thursday, 7 February 2013
Public Accounts Committee
2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 32 - Department of Transport, Tourism and Sport
Chapter 6 - Financial Commitments Under Public Private Partnerships
Chapter 26 - Collection of Motor Taxation
Financial Statements 2011 - National Roads Authority
12:20 pm
Mr. Fred Barry:
It is not reflected in the report but there are other caps on the payment. They are also capped by senior debt repayments within the deals. Even in a bad situation in which economic growth was slow for a long period, we would not have this extended payment at that level. As the debt is paid down, eventually the cap relating to the debt repayment would kick in and limit the payments.
If the economy does not pick up and if traffic does not grow, we will be paying the traffic guarantee payments.
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