Jim O'Keeffe
Question:84 Mr. J. O'Keeffe asked the Minister for Education and Science the position in relation to the new Cork School of Music. [30995/03]
Written Answers. - Cork School of Music.
Under EU rules, where projects are financed on a deferred payment basis by the private sector, the capital value of such projects is a charge on the general government balance, or GGB, over the construction phase. This is the case with the Cork School of Music. The GGB is the critical measure of what can be accommodated within our obligations under the stability and growth pact of the Maastricht treaty. A EUROSTAT group is currently reviewing the accounting rules on this issue and a final report on the matter has not yet been issued. Consideration of the project will also be based on an evaluation of the completed pilot post-primary public private partnership schools project. This will include a thorough assessment of affordability of the project in the context of the competing demands on the capital funding envelopes going forward and will take into account the issues surrounding the general government balance.