Paul Murphy (Dublin South West, Socialist Party) | Oireachtas source

The scandal around Siteserv encapsulates everything that is wrong about the water charges, austerity and the crony capitalism that dominates in this country. As always there are winners and losers. The winners are Denis O’Brien, who benefits from a massive write-off worth €100 million; the shareholders in a bankrupt company, who benefit to the tune of €5 million; and KPMG and Davy Stockbrokers, the advisers on the sale. KPMG made at least €70 million in fees relating to the liquidation of IBRC. The losers are the taxpayers who paid for this write-off, those faced with water charge bills who cannot afford to pay them and those who went to prison. Four people went to prison for breaching an injunction granted to Denis O’Brien’s private company, one of whom is in the Gallery, for standing up to the installation of these water meters and charges. At the centre of the story is the relationship between big business, Fine Gael and the media at the heart of which is Denis O’Brien whose wealth has doubled in the past six years. While austerity has been heaped upon austerity, upon the mass of ordinary people, one man has managed to more than double his wealth. The appointment of KPMG is so blatant that Alan Dukes, who told the Mahon tribunal he had no doubt about the integrity of the process for the mobile phone licence, said the appointment of KPMG was amusing. Transparency International has said KPMG should be taken off the investigation. Did the Government seriously think anyone would be satisfied by the independence of an investigation carried out by KPMG when it was involved in the sale and there was a whole heap of veteran KPMG people on the board and in relation to a bank for which it acted as liquidator and previously as auditor? Either the Government is stupid or there is something more substantial to hide here.

Is there an active misdirection going on here? I am all for an investigation into all the write-offs but we have to follow the money trail in respect of Siteserv all the way.

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