To ask the Minister for Transport if he intends to take advantage of the relaxation of EU rules on State borrowing to press for funding for major infrastructural projects in his Department, such as the Dublin metro and various road projects; and if he will make a statement on the matter.
Joe Costello. (Nominated by: Róisín Shortall).
For ORAL answer on Tuesday, 2nd March, 2004.
Ref No: 6769/04
Answered by Minister for Transport (Seamus Brennan)
The new guidance from Eurostat on the treatment of Public Private Partnership (PPP) funded infrastructure is welcome. It clarifies the ground rules for the accounting treatment of PPP transactions viz-a-viz the GGB and, in particular, the requirements relating to the real and substantial transfer of risk to the private partner. The implications of the new guidelines will be considered on a case by case basis in respect of PPP projects under the National Roads Programme and other major infrastructural developments such as the Dublin Metro. In the first instance, of course, projects proposed for funding by way of PPP must be examined to ensure they represent good value for money.
