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THE STORY OF the ‘haves’ and ‘have nots’ in terms of who has registered and paid with Irish Water has been dominating the headlines in recent months.
It has now been confirmed by the Comptroller & Auditor General’s report that 27.5% of Ireland’s 1.9 million households have not registered with Irish Water.
The report does not specify how many people who have registered have actually paid their bills.
An analysis of Irish Water’s domestic customers as of 31 August 2015 shows the following:
Here’s what else is covered in the report on central government funding of Irish Water:
In 2013 and 2014, Irish Water received a total of €1.2 billion in grants, loans and capital contributions from central government.
Further funding of €1.4 billion is anticipated in 2015 and 2016.
Before Irish Water was in existence, local authorities were responsible for delivery water services through the Water Services Investment Programme.
The total cost from 2007 to 2013 was €2.9 billion, including expenditure of €241 million in 2013. Here’s how much was spent:
That bridging loan
In July 2013, Irish Water entered into a €250 million bridging loan facility with the from the National Pension Reserve Fund (NPRF). In November 2014, the facility was increased to €300 million.
Last year it was confirmed that Irish Water was paying an annual interest rate of over 2% a year to the the state pension fund
That €300 million facility was fully drawn down and was repayable on 2 September 2015. The total guarantee fee to be paid is €10.3 million, and the final instalment is payable in October 2015.
Examining if condition were met
The C&AG said the most significant element of central government funding of Irish Water is the money from the Local Government Fund – the money used to provide water services prior to Irish Water.
The 2014 grant of €439 million was based on the amount previously provided to local authorities for the provision of water services.
The audit of the 2014 Local Government Fund is examining whether the conditions attached to that funding were met.
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I think micro-financing is a brilliant initiative. For those who might be interested there is one, kiva.org, that I have been using for a few years and I couldnt say a negative thing about it. You view peoples profiles and their business ideas and if you like you can loan them as little as $25. I have made many loans and never failed to be paid back. I just have a $100 in my account and its constantly going around in circles to new people.
Note: I dont work or have any relationship to Kiva other than I use it. I am sure there are other equally clever and reputable services doing the same thing online.
What a great idea. Just put in $50.
@ Brian Henoll. Thats excellent. Well done.
This is the same nation that sent a space probe to Mars.
Sadly India embraces the caste system, which is inequality between classes. That gives you the uber rich and also the uber poor. That is why they can send things into space and have loads of weapons.
What these women are doing is good and it should be applauded.
India’s caste system has less bearing on ones’s economic position that you might think. Higher caste is not necessarily richer. You will find all castes have people from the different folio economic strata.
Billions spent on nukes and an army
What a kip…
Gorta is delighted to support projects like this which have a major impact on local communities. The SCAD project directly assists 3,500 women in the self-help groups. The ripple effect is that these women are aiding an astounding 60,000 more women in their community.
For full details read Dee Kingston’s daily blog here http://www.gorta.org/blog/gorta-making-difference-india
What India should do is send a probe to Mars and increase its nuclear arsenal – all at great expense! That should help its citizens out of abject poverty!
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