STATEMENT BY NESSA CHILDERS
Labour MEP, Leinster/ Ireland East
Tuesday, 11 August 2009
TAXPAYERS HAVE RIGHT TO KNOW DETAILS OF M3 SWEETHEART TOLL DEAL
The agreement by the Government to compensate the M3 toll operator if traffic does not meet expectations is just further evidence of the particular Fianna Fail approach to some large businesses. If the business does well, it makes large profits; if it fails, then the taxpayer foots the bill.
The M3 deal is alarmingly similar to the Government approach to developers. When these thrive, they take the profits. When they fail, a generation of taxpayers picks up the tab. It is in the very nature of enterprise that there be risk. Under the Fianna Fail approach, there is no risk to their sort of entrepreneur, who cannot lose; only a burden on the taxpayer, who cannot win.
The public have a right to be fully informed of how many such pacts have been signed in their name.
The M3 deal is all the more bizarre as the state is rightly encouraging traffic off the roads through the reopening of the Navan rail line.