Eamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

I have talked to industry people with similar experience in other jurisdictions. They have told me that this situation is unusual in that we are subsidising the construction costs. In fact, we are paying for the construction. We are also subsidising the revenue risk. We are covering both in our subsidy. What I hear from others is that it would be standard or normal enough for the State to provide a backstop on the revenue side because we do not know what the take-up will be like. The State would cover that risk to get the project built. That gives any operator, developer or bidder certainty on the revenue side. Why is the construction side being subsidised? Ordinarily in this industry a developer would go to a financier with a backstop on the revenue side and seek to borrow for construction. Why are we subsidising the construction side, as well as guaranteeing the revenue side?