Enda Kenny (Mayo, Fine Gael)

I thank the Deputy for accepting the principle of what is involved here. What is involved is transforming the way in which water, as a valuable, precious entity, has been dealt with in this country.

Over the next 25 to 50 years it will become even more important and it is critical that the Government now sets in place a system and platform by which water can be delivered to homes and businesses for use in an entirely safe, competent and absolutely professional manner. That is why the Government was anxious that this would be retained as a public entity and as a public utility. Otherwise, if one goes the other route of privatisation and competition for the supply of water among private companies, in our view that would have disastrous consequences. That is why we are very clear about this being a utility retained in public ownership.

The reason for the loan being made in the way it will be made is to provide a commercial return for pensions for people for the future. The Government, as the Deputy will be well aware, does not have any pot of free money to allocate as it so wishes. It is all the people's money one way or the other. We want to deal with the question of serious savings having regard to leaks, investment in proper infrastructure for the carrying and the transmission of water, and the large-scale evidence of water leaks between public boundaries and private houses, of which there are many cases. People do not want that to be an issue with which they cannot deal.

What is involved is a clear Government decision about a way to deal in the future with a resource that has been taken for granted in this country for centuries. We cannot continue the way we have gone before. We must deal with it. The Government decision is absolutely clear in that business and the consumer will take responsibility for their contribution to providing a water system that will continue to inspire confidence in this country from abroad.

As the Deputy will be well aware from his business experience and contacts, it is critical and of fundamental importance for business and major investors that we continue to be able to prove and demonstrate that we have a high quality water system that is safe, clean and in which people can absolute confidence to invest. For personal consumers, it is important that they understand and appreciate, which they do, that this is not a resource that is there to be wasted; it is there to be enjoyed and for use in living, but not to be abused.

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