Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

I put it to Mr. O'Kelly that some PPPs have not turned out so well. For example, the total cost to the State of the Convention Centre Dublin was reported to be €416 million. It was discovered later that the State could have built it for about half that amount. The company that the OPW partnered with, Spencer Dock Development Company, went into liquidation and had to be bailed out by NAMA. This entity here, the Oireachtas, had to rent back, or pay a charge - some people dispute the use of the word "rent" - of €25,000 a day for it afterwards. The Limerick tunnel is underused. Mr. O'Kelly knows that last year, especially during the strict six or seven-week lockdown due to Covid, traffic volumes went down dramatically. There was a clause relating to when traffic volumes dropped below a certain level on those roads. In the case of the Limerick tunnel, there could be a bill of hundreds of millions of euro. Part of the N7 and N8 route goes through Laois. It was constructed in the 2000s. The taxpayer ponied up approximately 80% of the money for that and has to pay a maintenance fee of €1 million to €2 million a year. I recall the figure clearly. The motorist, who is the taxpayer, has to pay a toll. After 25 years, when the road will need substantial repair, renovation and replacement of surfaces, repairs to foundations and so on, the taxpayer will then pay to get it back. The cost over 25 years is a significant liability to the State and taxpayer. Sometimes PPPs may be appropriate. I do not argue that. I am saying that a number which have not turned out to be good news for the taxpayer.