Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

Yesterday, I raised the contract signed by government with National Broadband Ireland, NBI, and pointed out that the majority shareholder of that consortium is Oak Hill Advisors, a firm with more expertise in dealing with distressed debt than infrastructural projects. Broadband roll-out is behind schedule and there are major concerns regarding the structure of the contract with NBI. It was the single biggest contract entered into by the State, with more than €2 billion of public money on the line for a network the State will not even own.

When the contract was signed, the Government gave assurances that the consortium would have to put up more than €200 million of its own funds. That has not happened. The company has invested less than half of that amount and has already recouped €50 million in fees. That looks like a sweet deal for the consortium and a bad deal for Ireland.

Has the Taoiseach ensured that no taxpayer money will be used on this project until the more than €200 million of the consortium's money has been invested in the network? That was the commitment that was made. It is vital we get this sorted out. The people of rural Ireland, in particular, have waited long enough for broadband and the Government must get this right.

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