Mr. Brian Murphy:

As the Deputy implied, we have no hand, act or part in deciding whether a project is to be cancelled. It is unfortunate, particularly in current circumstances, that a cost arises in quite a few projects. There is, however, some consolation in the sense that some of the cost has created some value that can be used, perhaps at some time in the future. As the Deputy stated, the projects have been deferred.

We try to keep as much activity as possible in-house to control our costs. We try to minimise external consulting costs. With regard to costs incurred by sanctioning or sponsoring authorities, there is very little we can do. What we are trying to do is consider ways to make the bidding process cheaper for everybody, including the public and private sides. That is important to be competitive in the market. With regard to PPPs, we are examining taking in parallel more of the various steps in the delivery process. I hope this will help to reduce costs.

It is important to remember that the public sector has lost quite a bit in regard to cancelled projects. The private sector has also lost a lot of money. We estimate that, in the past two or three years in regard to cancelled or postponed projects, the private sector has lost perhaps €60 million. When we talk to the market about the stimulus package and the new pipeline, this makes the conversation difficult.