Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

I do not have all of the answers. No more than anyone else, I do not have a crystal ball. Commercial water rates to local authorities currently amount to approximately €200 million per annum.

That is significantly less than the total amount due. Therefore the issue is that as the economy improves and businesses become more sustainable, there will be more and more money coming in. That revenue will naturally increase as businesses improve.

Is it not possible to say what will happen in the future but it is the Government's absolute intention to provide for State support. Section 29 sets out the mechanism for this support to be provided, as it allows for grants to be paid by the Minister. The empowerment is there and it is our intention that will continue.

As regards all the other issues, I am not quite clear what the heads of various local authorities are telling the Senator, but an audit is being conducted of each local authority's water assets. The audit will include the location of the asset and what liabilities are attached, as well as whether there is money and planning permission for improving such assets. All the sums have to be done concerning each local authority's water assets. Notwithstanding the fact that the law will allow for a transfer of the assets from 1 January, they will not be transferred until the Minister signs the order. Therefore there is accountability and transparency about who is responsible, who owns the asset, when it will be transferred and the associated costs. They will have to work out that operational matter but we will continue to put State capital expenditure into Irish Water. There is no doubt about that and the Act allows that to happen. As the economy improves and more businesses come on stream, money from commercial companies will increase. As the Senator said earlier, Uisce Éireann has the capacity to borrow on private markets. In addition, people can come in and do a DBO if needed, so the system is flexible. I hope that type of investment flexibility will continue.