Mr. Owen Keegan:

First, it is the four local authorities. Second, this is a PPP contract. Nobody is trying to hide the fact. A common feature of all PPP contracts is that there is an element of risk sharing. We take some of the risk and in return for taking that risk we share in significant revenue streams. The question is whether that represents good value for the ratepayer. That has been assessed independently by the NDFA in accordance with the PPP guidelines, with which we were required to comply. The NDFA has issued the letter indicating that it represents a good deal for the State, in our case the ratepayers of the four Dublin local authorities. On that basis, I am confident this is a good deal. It is not just my view. It is a view that has been endorsed by the NDFA. I cannot dispute that it is a PPP contract and that there are risks. I cannot say for certain what will happen, but I would be quite confident that it will work out in favour of the Dublin local authorities.