Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I want to assure the Deputy that the appraisal process is rigorous. It is worth putting the figures in context. The annual cost of the unitary payment charges in respect of operational PPPs was approximately €320 million in 2020, at a time when the State's public capital investment programme was in the order of €10 billion. The contracted capital value of all PPPs in operation or under construction is over €5 billion. We have now committed to a public capital investment programme out to 2030 of €165 billion.

I agree with the Deputy on the need for accountability and transparency about the metrics, methodology and criteria used to assess what the best channel open to public bodies is to deliver important pieces of infrastructure. As she knows, technological universities have now been given the power to borrow for the first time for capital investment purposes. That is important progress.

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