Bobby Aylward (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

Will there be a cost to the taxpayer? Like the witness said, the money was borrowed to pay off the debt. UCC told the HEA that it was self-financing. This meant that it did not have to go through the approval process set out in the borrowing framework. How much of these lease payments will the IMI pay to UCC each year? On what basis were these lease payments calculated? Are they on commercial terms? How will the IMI afford lease payments of at least €1.7 million a year, and up to €2.7 million depending on the allowances they are egging on for, given that its largest ever operating profit was less than €1 million? It had a combined operating loss over the last decade of €10 million. That is interesting. It would not service its existing loan or pay its settlements to the pension fund. What contingency has UCC in place to repay the loan if the IMI is not able to generate the consistent profit necessary? Has the UCC agreed to subsidise or pay the IMI for any services or contribution towards this cost as part of its ongoing activities? They are important questions. I ask that they be answered.