Mr. Robert Watt:

It is true. We had this debate today and Deputy Connolly referenced the Commission report. Others referenced reports from the UK. There is an increasing debate, which is important, on how we fund infrastructure. Do we fund it by user charges or by Exchequer funds and traditional or by deferred or unitary payment PPPs? There is a debate to be had. We discussed this at length today. Internationally, there is increasing debate about whether they stack up or constitute value for money. That is why in the various studies we have done and the debates we have had there has been a strong focus on value for money, the comparator and the evidence, and whether we are sure this makes sense for the State. I agree with the Deputy that during the crisis years, additionality was a reason and that reason does not hold anymore. As such it has to be focused on value for money as opposed to the balance sheet treatment. We accept that and we debate the role of PPPs in the future. We are increasingly cautious about them which will drive the policy into the future.