Oireachtas Joint and Select Committees
Thursday, 22 March 2018
Public Accounts Committee
2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 4 - Overview of Public Private Partnerships
9:00 am
Mr. Seamus McCarthy:
It is a process of estimation. It is built on assumptions. If we were looking at it, we would be looking at the reasonableness of the assumptions and the basis upon which the estimates were arrived at. It is fair to point out that in public sector benchmark risk does feature as a very significant cost element which is added to what one thinks the construction cost and running costs would be on the public sector side. There is then a significant additional loading on the public sector benchmark. It is an area that, if being reviewed, would require careful consideration as to how those figures are arrived at.
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