Irish Water has only collected 46% of expected revenue despite bills falling due in the past two months. Only 43% of the expected customer base of 1.5 million people have paid up. If that rate of payment continues, the Government will take in approximately €120 million, while it will have paid out approximately €130 million. The water conservation grant will amount to €25 million and another €25 million will be due in interest repayments on the loans taken out to pay for the installation of water meters. On that basis, the Government will lose at least €35 million in revenue as a result of the imposition of the tax. It is probably the first Government in history to lose money having introduced a tax. That is extraordinary.
In addition, the capacity of Irish Water to pass the EUROSTAT test will be in severe jeopardy, notwithstanding the fact that the Government has cooked the books by shifting approximately €60 million of Irish Water's spending onto the local government fund. Registration confirms that one will get the €100 conservation grant. It was confirmed this morning by Irish Water that no proof of payment of one's bill is required. Essentially, if one does not pay one's bill, one will be rewarded with a €100 conservation grant.
