Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Finally, with regard to the bonuses, can Mr. Tierney say if the contracts are signed? The ordinary member of the public could make the point that the bonuses are there to circumvent the pay freeze.

I am just putting it from the point of view of the ordinary person looking in on the debate. As the Committee of Public Accounts we have to ask the hard questions, because it is about public money, but it is never personal. Ultimately, the taxpayer does underwrite Irish Water, and the same applies to any State organisation.

Bord Gáis is different because it is an existing company, but Irish Water is new. It is a State body that happens to be a subsidiary of Bord Gáis. It is given, one could say, something from the State; it is State-owned. It is different.

The question I am asking, Mr. Tierney, is this: in the current climate, are these bonuses set in stone? Can they be re-examined at this moment in time?

Mr. Barry mentioned a figure of 10%, which seems quite high. If you said to the ordinary person who is out there at the moment that he or she would get a 10% wage increase, which is what it would equate to, he or she would say it was unrealistic. Many small SMEs around the country would not be able to afford it. When one sits back and thinks about a 10% increase one realises that it is a very high figure in the current climate. You might just tell me, Mr. Tierney, where it stands contractually.