Dermot Ahern (Louth, Fianna Fail)

The aim for Thornton Hall was to sign the contract in early 2009 but in light the current economic difficulties, the current bidder and I anticipate all the other bidders are experiencing problems with the credit crunch. I understand that negotiations are ongoing and efforts will be resumed in the new year to obtain the finance required at a reasonable rate. We want the project to proceed. As it is a public private partnership, the taxpayer will not pay a cent until the project is completed and ready for takeover. It is a 25 year project but in the short term we are putting in place 400 additional places between now and the summer.

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