Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

As the Deputy is aware, the entire issue of Irish Water and the policy underpinning it is being revisited by the Government and there will be an announcement next week or in the next couple of weeks by the Minister for the Environment, Community and Local Government. The re-examination is taking place with three principles in mind: to provide certainty about the bills people will face for water supply; the affordability issue - the Government is examining the situation to ensure whatever charge is applied will be affordable by the generality of households; and, for the reasons outlined by the Deputy, the fact that we would like to keep it off balance sheet because there would be an easier funding arrangement. As the money dedicated to Irish Water will be spent, it is not a question of extra money being spent. It is not even a question of having extra taxes to raise it; rather, it is how to account for the investment in Irish water. The potential effects of being on balance sheet are that the deficit would go up and the debt would increase. These are the considerations and we are proceeding on that basis.

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