Professor Eoin Reeves:

There is no competition. The point we are trying to make is that the gap funding model will not achieve value for money, as there is no competition. There are also concerns about the level of risk being transferred to the private sector. These are the two drivers of value for money in a model like this one.

Regarding the unknowns, complexities and so on, we make that point in our briefing note. It is Infrastructure 101 that, in such circumstances, the safest option, and probably the most economically advantageous in all respects, is to go for a State-led model. Within that model,-----