Brian Stanley (Laois-Offaly, Sinn Fein) | Oireachtas source

I apologise. I do not know how the Minister or the Minister of State can defend the grant.

The Government allocated €468 million from local property tax revenue to Irish Water. The Minister and his predecessor, Mr. Phil Hogan, stated the local property tax was to be used to pay for footpaths, public lighting, parks and libraries. An additional €530 million from the National Pensions Reserve Fund is being buried in the ground because the water meters will not be used for at least four years. In addition, an Exchequer subvention of approximately €250 million per annum will continue to be paid to Irish Water.

Irish Water, a stand-alone semi-State company, will be treated differently from other semi-State companies as it will not be required to pay rates. Moreover, Joe and Mary taxpayer will pick up the €460 million bill for its loans from the Housing Finance Agency. The €130 million cost of the conservation grant, a fiddly, funny money scheme devised to satisfy the EUROSTAT criteria, will also be borne by taxpayers. The Government will pay the grant with one hand and take it back with the other. The money borrowed from the National Pensions Reserve Fund was supposed to be used for pension purposes. I am not sure how much good it will do to bury this money in the ground in paying for water meters that will not save one gallon of water. In addition, we also have the ongoing Exchequer subvention. The Government is handing over a colossal amount of money to its favourite child.

Will the design, build and operate, DBO, and public private partnership, PPP, water and sewerage plants be liable for rates? In other words, will the companies that operate these plants be required to pay rates? For example, will a rates liability arise in respect of the Portlaoise wastewater treatment plant or will the €59 million rates liability that is being wiped clean include the rates liability of that plant?

Uisce Éireann's assets have not been audited. The Minister confirmed yesterday that a valuation or audit of assets had been made in only two counties. The Valuation Office has not made a valuation.

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