Dáil Éireann debate -
Wednesday, 28 Jan 1998

Vol. 486 No. 1

Written Answers. - Private Investment in Transport.

Bernard Allen

Question:

520 Mr. Allen asked the Minister for Finance if he will appoint a study group to look at ways in which to attract private investors into transport and other major national projects; and if he will make a statement on the matter. [22053/97]

Minister for Finance (Mr. McCreevy):

A paper on public-private partnerships compiled by the IBEC and the Construction Industry Federation was presented to me recently and my Department is examining its contents in the context of work which was already under way in the Department. Also, the Partnership 2000 agreement of December 1996 indicated support, in principle, for public-private partnerships in construction and agreed to assess the scope of private financing mechanisms for public infrastructure and the methodology of suitable project identification. In the same year, a report commissioned by my Department in conjunction with the Irish Association of Investment Managers and the Irish Association of Pension Funds identified the greater involvement of private financing in the provision of public services as a possible investment outlet for pension funds.

Officials of my Department are examining this issue in the context of total Exchequer costs, the short and medium-term budgetary impact, accounting arrangements, public expenditure priorities, etc. and will report to me directly on the matter. They have already had preliminary discussions with IBEC and the CIF, and with other Government Departments, and will consult as necessary with other interested parties.