Oireachtas Joint and Select Committees

Thursday, 3 February 2022

Public Accounts Committee

Transport Infrastructure Ireland: Financial Statements 2020

9:30 am

Photo of Colm BurkeColm Burke (Cork North Central, Fine Gael) | Oireachtas source

I thank our guests for their presentations and all the information they are providing to us. When many of the public private partnership agreements were put in place in recent years, interest rates were far higher. Given that money is cheaper now, is there any provision in those agreements to look at those costs as part of the overall agreement? We also need to look into this issue for future agreements. For example, in 2008 and 2010, the cost of borrowing was extremely high and it is now a much lower figure. Regarding the cost of projects, obviously the public private partnerships would now be paying out a return on the investment. Is that taken into account? Is there any process to review that cost as an overall part of the agreement?

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