Joe Conway (Independent)

Gabhaim buíochas leis an Aire Stáit as bheith anseo chun déileáil leis an Commencement matter. From his own area, I am sure the Minister of State will be well familiar with the BAM project, an initiative that was introduced for financing school developments. It began in 2012 and was modelled largely on the UK's private finance initiative, PFI, which was begun in 1992 under John Major's Government and whose use was expanded significantly by the Blair Government. Just as the system in Ireland was being rolled out in 2012, it was rapidly falling out of favour in the UK. It was proving to be spectacularly successful as a device for providing schools and hospitals on the never-never, é sin ráite, le hualach mór úis lódáilte suas air agus gan a bheith ar na balance sheets. In 2018, the then Chancellor of the Exchequer in the UK, Philip Hammond, announced to the Parliament that he was giving the whole initiative the boot, while we were ag cur an córas sin faoi lánsheol, or running up the mainsail, on PPP, as we call it here.

As is widely known, communities and Governments here have been locked into the model for a quarter of a century, which, coincidentally, is the length of time it took the UK to tumble to the absolutely profligacy of the rules. In case the Minister of State is in any doubt, he should note that BAM has sold out the project to PGGM, a Dutch pension fund, so he can be confidently assured that its bottom line is truly its bottom line.In bundle three which is under consideration today, I want to instance Merlin College, located in Doughiska in Galway city, a school with a fine profile and very progressive outcomes, I am told. However, it needs a new disability classroom facility and was advised, through the board of management, of a ballpark estimate. It was, alas, informed by BAM that the extension could only be provided by BAM but at a figure that was roughly five times the estimate that was given independently to the board of management. My difficulty here is obvious. Why are our taxpayers being systematically ripped off in order to fatten Dutch pension funds with usurious dividends? In the last analysis, and most importantly, does that system do anything positive to speed up the delivery of the facility so badly needed in Coláiste Merlin? It is urgently sought and I would love to hear what the Minister of State thinks, in his heart of hearts.