Dr. Gerhardt Gallagher:

Another figure quoted is the cost per visit to forests and one estimate of this is approximately €200 million to the estate. The Bacon report reduces this value to the estate in the cost of privatisation exercise. Mr. Bacon estimates the loss of the amenity value, which includes many of these intangibles, to be approximately €105 million which would have to be removed from the price the investor received. Added to other liabilities, this creates the picture of a loss to the Exchequer after the exercise rather than a gain.