NRA astonishiingly incompetent – Fianna Fail are clueless. Arrogant stupid fools – Dempsey and Cowen OUT OUT OUT!

Two of the nine Public Private Partnerships (PPP) contain a revenue-guarantee arrangement based on minimum traffic volumes. These are the Limerick Tunnel and the M3 motorway from Blanchardstown to Kells.

The NRA has to pay the difference between actual traffic volume tolls and the contract volume.. The NRA says that “the purpose of the traffic

Revenue- guarantee schemes was to “enhance the fundability of these projects and attract more competitive funding terms.

“In the case of the M3, the reason the traffic guarantee was necessary was due to the size of the project and the amount of funding banks required to participate in the funding”

The Limerick tunnel involved risky work and uncertainty about future city-centre traffic management schemes. The Limerick tunnel traffic volume is about 3,500 below the penalty level. The actual traffic volume is 13,500 at present and the guarantee volume is 17,000.

The guarantee volume on the M3 is 26,250 and at present it is 21,500. That is 22% below the required volume.

Simon Coveney of Fine Gael says that the cost to the exchequer may be about €100 million over the duration of these contracts.

This is a staggeringly stupid way of dealing with these contracts. Already, there are two tolls on the M3. This is a big incentive to avoid the new road.

Noel Dempsey is a clueless nincompoop. He represents the ascent to power of the crassly mediocre. No cop on of ability to see around corners. His record stretches right back – voting machines etc.