Dáil Éireann Debate, Tuesday - 25 February 2014
172. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Question No. 364 of 11 February 2014, the reason the €240 million designated as external source of finance is in fact an equity investment by him, it is not listed under Exchequer or own resources funding; and if he will make a statement on the matter. [9104/14]
Amharc ar fhreagra200. Deputy Thomas P. Broughan asked the Minister for Finance if €240 million will be allocated from his Department to Irish Water this year; and if he is aware of what this specific allocation will be used to fund. [9205/14]
Amharc ar fhreagraI propose to take Questions Nos. 172 and 200 together.
Irish Water's costs in the coming years will be funded through a mix of revenue from the domestic and non-domestic sector, third party finance (such as the Ireland Strategic Investment Fund, EIB, bank lending and capital markets facilities) and State support which may be in the form of both equity and subvention. It is proposed that there will be a €240 million equity investment from the Central Fund which subject to Eurostat confirmation would not impact the General Government Deficit as this amount would be treated as an acquisition of equity rather than a capital transfer. The investment will be used to primarily fund the core capital expenditure programme of Irish Water.
