Metro System Fears over Hire Purchase plans
The Minister has proposed getting the private sector to build the system, with the State not paying a penny until trains are running, but then leasing the system at a cost of up to €350 million a year for 30 years - a total cost of €10.5 billion.
But today Fine Gael Finance Spokesman Richard Bruton said this was the equivalent of an interest rate of 14.5%, which does not look like great value.
He also asked who would be responsible for paying cost overruns, and who would evaluate the project.
Deputy Bruton claimed the Government had 'blown' a €5 billion surplus in two years, and called for some 'old-fashioned financial prudence'.
