Seanad debates

Wednesday, 2 July 2003

Adjournment Matters (Resumed). - Cork School of Music.

 

Senator Minihan referred to the role of EUROSTAT. I would like to clarify the position for him. If he has any further questions, I will be happy to provide further clarification. A EUROSTAT group is reviewing the accounting rules on the issue to which I have referred. A standing committee, established by my colleague, the Minister for Finance, will also advise on the general government balance implications of private sector financed projects. EUROSTAT ruled on the GGB implications of the bundle of five post-primary schools and found that the capital cost must be reckoned for GGB purposes. To answer the question the Senator posed specifically, it has not ruled on the Cork School of Music project. The prudent approach, therefore, is to adopt a working assumption that the cost of the project will have to be counted for GGB purposes.

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