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
10:50 am
Mr. Fred Barry:
No, because even the risk share we have in this arrangement is not available to us anymore. We can no longer get PPP companies to take any of the risk. The PPP companies that took the full risk have, by and large, done very badly out of it. Even in the current situation, where we are guaranteeing some floor to companies, they are still doing badly against their own traffic forecasts because they are carrying a significant burden of the risk. The position on PPPs now is we cannot get any tenderer to take traffic risk. This is not just an Irish phenomenon, just in the case the Deputy thinks what has happened here is in any way unique.
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