David Cullinane (Waterford, Sinn Fein) | Oireachtas source

Go raibh maith agat. Before I put questions to our witnesses I want to make the following clear. I do not like witnesses taking a casual approach to the Committee of Public Accounts and getting irritated when questions are put. I very much hope that there will be a step change as the meeting progresses because we can stay here and ask a second, third and fourth round of questions, if needs be.

I am also disappointed that we have not got additional information on what we received last year, which is a point that the Chairman made at the start of the meeting. We are here to hold the witnesses to account in terms of governance, accountability and spend, and the control mechanisms that are in place. I will concentrate on all of that. I will go under the bonnet to see what is actually happening and, hopefully, get responses to my questions. If I do not get responses then we will stay for a second and third round of questions because this is a very important issue. We are here to do a job and we must do it.

I shall start with the guaranteed maximum price. Mr. Barry said, in response to Deputy Munster, that the price of €1.433 billion is guaranteed in the context of the agreed framework and contract and there are residual risks that are outside of that. The €1.433 billion that is guaranteed is only what is guaranteed in terms of what is within the framework of the contract. Is that correct?