Ben Gilroy “Ruling, a major blow to the Governments planned give away Budget”
By Direct Democracy Ireland
Fine Gael Minister for Finance Michael Noonan in dismal attempt to hide his disappointment has stated “That the ruling by Eurostat that State funds spent on Irish Water must stay on the Exchequer balance sheet will make no statistical difference to the next budget and make no difference to Irish Water’s customers”
This is just one disaster after another for this Government stated Direct Democracy Ireland’s Ben Gilroy “Now we the taxpayer must yet again foot the bill with more than €500m extra now been added to the national debt”.
Mr.Gilroy went on to say that Direct Democracy Ireland who have been calling for the full abolition of Irish Water and a complete end to water charges, are now calling on the Irish Government to come clean and stop cooking the “books” to admit that Irish Water is over and done with. This company a Fine Gael/Labour Party debacle is a failed project something john Tierney who also Presided over the Poolbeg incinerator Fiasco, is accustomed to at this stage.
In its Spring Statement, the Government was misguided when they assumed the cost of Irish Water would be off the Department of Finance balance sheet.
With the establishment of Irish Water, one of the main goals was to get its finances off the State balance sheet to ensure the Government’s annual spending on the utility would not count when the EU calculated Ireland’s financial deficit, also to insure that the hated utility could borrow money in its own right without affecting governments GDP to debt ratio. To pass the test, Irish Water would have to cover more than half its operating costs from income earned from customers, and with just 46% of people allegedly paid up is the writing is on the wall for Irish Water?
One of the main issues that was considered in the ruling was the €100 grant the Government agreed to pay to households in a pathetic bid to fool people into signing up to Irish Water so the Government has shot themselves in the foot yet again. The Government had argued this money was separate from the financing of the public utility.
It has also come to light that Irish Water has borrowed €850m at very high rates from high street banks, and the burden is with us, the taxpayer. We need this insanity end?