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Written Answers - General Government Debt

Tuesday, 27 March 2012

Dáil Éireann Debate
Vol. 760 No. 3

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 149.  Deputy Paschal Donohoe Information on Paschal Donohoe Zoom on Paschal Donohoe  asked the Minister for Finance Information on Michael Noonan Zoom on Michael Noonan  further to Parliamentary Question No. 137 of 6 March 2012, if he will detail the amount the buy-out contract between the National Roads Authority and National Toll Roads of Westlink is capitalised as general Government debt; if he will detail the document in which this is published; and if he will make a statement on the matter. [16741/12]

Minister for Finance (Deputy Michael Noonan): Information on Michael Noonan Zoom on Michael Noonan Buying out the West Link Toll Bridge in 2008 allowed the removal of the toll plaza on the Westlink and its replacement by a barrier free tolling arrangement which facilitated the upgrading of the M50, resulting in the State and the travelling public, rather than NTR, being the direct beneficiary of the tolls. The terms of the contract are that NTR will receive annual payments of €50 million, adjusted in line with the Consumer Price Index, for each of the years 2008 to 2020.

As outlined in Figure 12, page 18, of the Comptroller and Auditor General’s Annual Report 2011, the amount outstanding was €433m in 2010, and this amount is used in the calculation of the General Government Debt for that year.

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