John McGuinness (Carlow-Kilkenny, Fianna Fail)
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But does the Department have a business plan because all the money is coming from the Department? Let us be straight about this. A total of €2.5 billion is going from the Department of the Environment, Community and Local Government to Irish Water. Is it open-ended? Is there a blank cheque for Irish Water in respect of its set-up, because that is how I perceive it? A total of €11.25 billion worth of assets is transferring to Irish Water. I do not know who did the due diligence on that €11.25 billion of assets but I think the Secretary General is saying that each local authority did it. What does that entail? Is it a building, a pipe or pump or what is it? Who quantified it? The taxpayer funded this because in the years 2007 to 2013, €2.9 billion was spent in some way on these assets, while €241 million was spent in 2013 in respect of water services investment alone. All of the aforementioned €11.25 billion represents taxpayers' money and they bought these assets. If I am wrong, the Secretary General should tell me but this is how I perceive it. On top of that, there is a further €2.5 billion in respect of the funding from 2014 to 2016, inclusive. This comprises €13.75 billion worth of assets being transferred directly into a company. Thereafter, as I understand it, the corporate knowledge, which is worth something in commercial terms, also will be transferred into this company. How much did the Department factor into that built-up knowledge of all these water systems when the assets are transferred? Is it included in the €11.25 billion, is it simply not quantified at present or will it be quantified? When all those assets are transferred into this company, for the pleasure of doing all of that on behalf of the taxpayers, they will then be charged for the water. This is even before one gets to how Irish Water will refund the refurbishment or the renewal of all the assets it is getting. At the last discussion this committee had in public on this issue - I believe Ms Graham told us this but she should correct me if I am wrong - members were told the taxpayers also would be expected to contribute something towards the billions of euro it will take to bring all the assets, that is, the water infrastructure, pipes, services and so on, up to scratch. Is this a fact?