Oireachtas Joint and Select Committees

Thursday, 7 March 2019

Public Accounts Committee

Oversight and Implementation of Capital Projects and the Role of Public Officials on State Boards: Department of Public Expenditure and Reform and the Office of Government Procurement

9:00 am

Mr. Robert Watt:

That is why we are talking about the risk premium. What we are saying in the future is that if the Department comes to us and says, "We think that is going to be €200 million", we will say, "Well, based on our experience of doing certain types of projects, if it is a brownfield site or whatever we will add 50% and say in actual fact it is €300 million now." That has to happen because otherwise the system would be gamed where people will, of course, come in low to get the Government to commit to it and it will be much more than that ultimately.

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