Fianna Fáil Spokesperson on Finance Michael McGrath has welcomed confirmation from the Government that a working group is currently examining the role of Public Private Partnerships as a model for delivering infrastructure in the economy.
Deputy McGrath commented, “Fianna Fáil has argued for some time that the Government needs to adopt a more ambitious approach to Public Private Partnerships (PPPs). PPPs offer the potential for greater investment in many areas of the economy including, for example, public transport, roads, education and renewable energy. The Government has taken a very conservative approach to PPPs and is not taking full advantage of the favourable market and investment environment.
“Fianna Fáil has been asking for this review and Minister Donohoe has confirmed that a senior level group has been established to examine all aspects of PPPs comprising officials from the Departments with experience of procuring projects by PPP, together with the Department of Finance, the National Development Finance Agency and Transport Infrastructure Ireland.
“This review is timely given that the new long-term capital plan will be published later in the year. In our view, PPPs can play an important role in our economy by complementing direct exchequer funding for capital investment. It is particularly important that the domestic 10% rule that applies to PPPs be reviewed. Hopefully this review will result in a more ambitious but responsible PPP investment pipeline in the years ahead.”