Brian Cowen (Laois-Offaly, Fianna Fail)

I do not accept that my reply was timid. I regard it as a reply necessary in the interests of providing some accuracy regarding the assertions made on these matters by the political opposition in recent weeks, and in the interests of bringing some perspective and balance to the debate.

The new cost appraisal guidelines I have introduced since becoming Minister for Finance are being discussed with industry and as far as we are concerned will be in place by the end of this year. In the past, these matters under scrutiny related to price variation clauses and underestimation of land acquisition costs. As the Comptroller and Auditor General's report and the Committee of Public Accounts noted, one can point to specific instances where there were project-specific cost overruns. In the case of the south-eastern motorway, for example, land acquisition costs were cited as being particularly high.

Even when one looks at the outturn costs and takes account of the reviews taking place, involving the NRA or other bodies, the benefits brought by providing a national transport infrastructure for the first time, particularly through our roads programme and the inter-urban network, reflect a rate of return which justifies even the outturn costs of these projects. That is clear. The ESRI has made the point that even considering the outturn costs, a cost benefit is involved.

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