Ms Eileen Fitzpatrick:

On the first option which is to continue with the current model, we cannot see the cost advantage from a pragmatic perspective. On the second option which is to retain existing commercial facilities, the fundamental point is that it is still cheaper for the Government. We would have landed heavily on the third option. Irish Water may have some small qualitative issues around it in terms of flexibility or certainty, or the visibility of the expenditure. A private facility - a revolving credit facility - can be drawn down or repaid at very short notice. As Government funding is not quite like that, in terms of facilitating that flexibility, one could leave a very small amount which is really for working capital, but that is a fine point.