DUBLIN: Taxpayers could be stung for up to €3.5bn to further fund Irish Water, the chairman of the Dáil’s spending watchdog warned.
Public Accounts Committee head John McGuinness said a triple funding stream would be flowing into the utility from general taxation, some €300m a year from motor tax, and the actual direct water charges themselves.
Mr McGuinness branded the funding details of Irish Water “a financial mystery tour” as officials from the environment department gave evidence to the committee.
He said investment in the utility between 2017-2022 could amount to €7bn, as he expressed alarm that the taxpayer could be forced to fund half of that.
My concern is that PAC has been told several billion euro would have to go into improving and refurbishing the water network,” he told the Irish Examiner.
A significant amount of that would come from the taxpayer, and could be up to €3.5bn. It’s been confirmed that is the case after 2017 as investment will need to be funded by exchequer money.”
The Fianna Fáil TD for Carlow-Kilkenny expressed concern during the PAC hearings that Irish Water did not have a business plan after 2016, noting a credit union would not give out loans on that basis.
