“non-executive directors of the interim board of NI Water met today informally with our CEO”

The BBC report tells us that

The board of the government owned Northern Ireland Water company has given its full support to the firm’s chief executive, Laurence McKenzie.

But, before making that statement of support, this is how Padraic White, the recently appointed interim Chairman of the interim Board of NI Water described today’s meeting

“The non-executive directors of the interim board of NI Water met today informally with our CEO to be brought up to speed with NI Water affairs in advance of our board meeting in September.”

So, it was an informal meeting of the NEDs and the CEO in advance of the September board meeting. 

Not to mention the fact that 4 of those non-executive directors on the interim Board were appointed in June via an “emergency process” classified as an exception to the Code of Practice.  There are only 2 other non-executive directors, one of which is Padraic White.

Business as usual, then…

Adds As Nevin mentions below, it’s worth noting that it looks like the interim Chairman was also appointed through that “emergency process”.  From the “Notes to editors” in the ministerial statement on that appointment

  • The non-executive directors have been appointed by the Minister by an emergency process. Although the Department discussed the process with the Commissioner for Public Appointments (CPANI) it is classified as an exception to the Code of Practice.
  • The appointment of the Chairman will mean that there will be a total of six non-executive Directors on the NIW Board.
  • , , ,

    • William Markfelt

      Yes. You’ve hit the nail right on the head, Pete.

      The NIW board is now loaded with Larry’s Noddies, and that ‘extra NED’ is the clear blue water he needs, particularly in a no confidence vote where McKenzie wouldn’t have a vote (?)

      Today’s statement in a clear indication McKenzie isn’t considering ALL of his options, as Mick alluded to earlier, because it rather looks like he has no intention of resigning. He’s going to stick this out and hope that the entire NIW debacle disappears from public view. As of now, the board are onside.

      I wonder if the NICC have a view on how this Presidential style of ‘leadership’ and the benefits to consumers.

    • William Markfelt

      I wonder if the NICC have a view on THE Presidential style of ‘leadership’ and the benefits to consumers.

      …makes more sense

    • Drumlin Rock

      Wowww, hold on now people, how can “The board of the government owned Northern Ireland Water company has given its full support to the firm’s chief executive, Laurence McKenzie”
      IFit is
      “in advance of our board meeting in September.”

      The board have not met yet! this press release is a LIE!

    • I’ve posed some questions about the potential for cronyism in the selection process and I’ve highlighted the lack of separation of those who are supposed to be representing the public interest (Consumer Council and NIAO) and the Governors.

      Was the selection process directed by civil servants or the Minister’s private office? View the published correspondence between Patterson and McGlade.

    • Pete, surely the five new NEDs were appointed via the ’emergency process’ though there names were not made public at the same time.

    • William Markfelt

      I don’t buy these ’emergency procedures’ Nevin. It looks more to me that they took the action they did and then found a phrase to cover the course of action taken.

      I would be very doubtful that anyone in NIW could produce a document that covers such eventualities (except, perhaps, if written after the event).

      This has perturbed me for weeks and ‘ve spent hours attempting to find any sort of document, or reference to a document, in NIW’s website, or in any of the government departments.

      As far as I can see there’s not such plan or document that exists anywhere in cyberspace in relation to any of the key players.

    • Pete Baker

      I think that’s right. Although it’s not made as clearly as it could have been in the appointment statement.

    • William, the Commission for Public Appointments presumably would be able give guidance to the Minister on such a process; failing that it will probably be found in the correspondence between Stephen McGlade and Paul Priestly/Lian Patterson – with maybe some input from Laurence MacKenzie.

    • Pete, what is the status of the current Executive Directors? Have any of them been suspended following the IRT and ‘deep dive’ reports?

    • It could be much worse than that, William. The Minister could have even more control over NIW but find himself in direct conflict with the Treasury.

    • Drumlin Rock

      and who’s “side” are they percieved to be on, as we have seen it does not do to critcise Mr McKenzie.

    • Mike Scott

      Looks to me like they left themselves plenty of wriggle room. “We will continue to expedite the implementation of the IRT recommendations as we await the report of the Public Accounts Committee into these matters. And of course our own internal disciplinary procedures relating to the findings of the IRT report must be allowed to run their course without prejudice”

      So if the big man is seen by PAC to have fu**** up – Padraic and Mairtin will have a quiet word.

      Not the unambigous statement of support the BBC are reporting.

    • Pigeon Toes

      “in advance of our board meeting in September.”

      The board have not met yet! this press release is a LIE!”

      Exactly…

    • NIW waits to the last minute of the last hour BUT, under duress, it updates its Executive Team minutes – well maybe a slight exaggeration 🙂

      The Board minutes are still missing so NIW is still dithering on that one. NITHC publishes its Board minutes online so NIW has been left without a fig leaf.

    • Cynic

      So just what is an ‘informal board meeting’ and what due diligence did the board do before supporting him

    • Pigeon Toes

      http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/water-firm-boss-gets-backing-of-directors-14927052.html
      “In a statement on behalf of fellow NIW directors, company chairman Padraic White said”

      Bit of a stupid move Mr White, as the Board hasn’t actually met… Now how about another vote of “no confidence”

      Yet another “autocrat”?

    • Pigeon Toes

      “We will continue to expedite”… (“as instructed”)

      A military term….

    • William Markfelt

      And why not?

      Sergeant Bilko’s platoon are all marching in step up at Fort Baxter.

      (By the way, the original title for that series was to be ‘You’ll never get rich’)

    • William Markfelt

      And if you’ve ever seen the film spin-off, just titled ‘Sgt. Bilko’, the plot revolves around an investigation into wrongdoings at Fort Baxter.

    • Pigeon Toes

      But shur us culchies are still waiting on that.

      Madly excited about the new series…:-)

    • Pigeon Toes

      From NIW website
      “NI Water is a transparent and open organisation. We publish a great deal of continually updated information about what we do on this Internet site, which you can access by using the search facility clearly marked on each page. However there may be other issues about which you would like further information, and in this part of our site we explain how you can get such information.”

      Their FOI Page states

      “Includes notable Freedom of Information requests received by NI Water”
      http://www.niwater.com/siteFiles/resources/HTMLFiles/Information_Management/Disclosure_Log.pdf

      Ah give us some credit… Do you actually think we believe the ”
      NI Water is a transparent and open organisation. We publish a great deal of continually updated information about what we do on this Internet site, “

    • The Executive Team became the Executive Committee on November 16, 2009, the day of the ‘get used to it’ remarks. The number of senior staff regularly attending Executive meetings appears to have been severely pruned from about 10 down to 6.

      The Executive meets on the first and third Monday of the month. The minutes from July to October 2009 ran from 6 to 9 pages but in November they were trimmed right back to 2. This means a significant reduction in information made available to the public.

      Does anyone know when the post of Commercial Director was made redundant and whether or not NIW followed the correct redundancy procedures?

      David Gilmour, who held the post of Commercial Director, brought the news about contract extensions which raised MacKenzie’s antenna on August 8. His name as an attendee last appears AFAIK on the Executive minutes on November 2. Will his role in the procurement debacle and the nature of his departure be examined by PAC?

    • PT, from your link:

      “FOI Disclosure Log

      Below are some examples of Freedom of Information (FOI) and Environmental Information Regulation (EIR) requests of wider public interest that NI Water has released.”

      Now if they simply published the log rather than indulged in tokenism we could make up our own minds about what was ‘interesting’ 🙂

    • Pigeon Toes

      The phrase used Nevin is “notable “. Or perhaps ” not able”?

    • An afterthought. Would this significant management change have to sanctioned by any of the following or notified to them: NIW Board, Regulator, Consumer Council and DRD?

    • William Markfelt

      ‘continually updated information ‘

      So up to date that the David Gilmour Nevin asks about further up is still listed, as is another sinking ship escapee, Pat McParland.

    • William Markfelt

      http://www.water.org.uk/home/about/water-uk-team/chief-executive-speeches/northern-ireland-water-forum/ni-speech.pdf

      Pamela Taylor, CE of Water UK, speaking at the NI Water Forum in May 2009.

      She says ‘good policy depends on collaboration’

      Unfortunately it’s not clear if that means there’s no room for autocrats, or if she expects quangos and utilities hop into bed with one another to fend off media interest.

      She expects Wee Dangermouse to be treated with respect, too.

    • malairt

      The Commercial Director post was abolished with effect from 1/1/2010. The decision and process were tested with an external legal adviser and found to be legally compliant.

    • Pigeon Toes

      When was the restructuring decision taken?

      How many pots were to be made redundant?

    • Pigeon Toes

      “posts”

    • William, they’ve ‘rebranded’ and slimmed down the Executive – it’s now a Committee not a Team – and they’ve beefed up the Board with an additional ED and an additional NED. In other words, decisions will now be taken by a smaller percentage of people with a day-to-day knowledge of the company.

      None of the NEDs now appear to have any knowledge about the operation of a water utility but perhaps more of them have links to nationalist West Belfast. Ó Muilleoir and Mr White sit on the West Belfast and Greater Shankill Enterprise Council (with the Beltel’s John Simpson) and Ó Muilleoir and Mrs White were associated with Daily ireland (failed).

    • William Markfelt

      http://www.bmfconferences.com/video/Water_forum_09_video/david_gilmour.php

      The man himself speaks last year at the NI Water Forum about procurement issues (other speakers also have vids on that site). And they all seem to be saying, to my legally untutored ear, that there’s flexibility in respect of procurement, and no need for multiple tenders where there’s an identifiable VFM saving.

      If this is the case, doesn’t it all drive a coach and four through McKenzie’s entire premise for an investigation?

      I’d appreciate it if someone else had a gander at the vids and threw their tuppence worth in.

      That means you, PACers. Maybe you need to ask the question as to how much of this £28m (already a flawed figure) could be explained away by NIW as fitting into the ‘flexibility’ element of procurement.

    • William Markfelt

      ‘None of the NEDs now appear to have any knowledge about the operation of a water utility’

      Or a newspaper, judging from your post.

    • William, here is an interesting reference to Nigel Annett – whom I knew as a schoolboy: “As every schoolboy knows, and every utility executive has eventually found out the hard way, water and electricity don’t mix”. Nigel’s roots are here but he now heads up Glas, the Welsh water company. Perhaps it’s a mistake to have too many folks with electricity links dangling their legs in NI water 🙂

    • William Markfelt

      Mr Annett believes it’s important to ‘build up public trust’.

      NI Water badly needs that kind of leadership, I think the current vogue phrase runs.

    • William, NIE in June 2009 was pushing firmly back against the Regulator on the matter of single tender contracts ie before MacKenzie moved behind the desk in NIW. The WAB letter of June 30 argues that the specialist lawyer from London offering a discount was much better value for money than a generalist local numpty fannying about over a longer timescale.

    • William, I’ve just listened to the Gilmour presentation from May 2009. He expected £19 m savings by year end, some way ahead of the Assembly target, and during the course of the year, in association with Mellor, had nearly halved the expenditure on consultants.

      He admited that their information system on ordering had been woeful but expected the tried and tested Oracle P2P eordering system to be live by the end of June 2009.

      So what has all the fuss been about and why were Gilmour’s services disposed of?

    • William, anything with Ó Muilleor’s hands on it is more likely to be a SF propaganda pamphlet than a newspaper.

      He’s seemingly more suited to the belly-board than the board of a public utility:

      “I surfed the waves off Waikiki (okay, paddled belly-down on my board)”

    • William Markfelt

      ‘So what has all the fuss been about and why were Gilmour’s services disposed of?’

      Yes, and when you play Gilmour back to back with Katherine Taylor’s legal arguments regarding procurement, the whole affair begins to look even flimsier than it already does.

      I note from poking about that there’s only four videos, but Chris Mellor also gave a speech. It’s a shame that’s not online to gauge his perspective.

    • Mick Fealty

      It would be very interesting to know how Don Price feels about all of this…

    • William Markfelt

      Pathetic. Isolated. Emasculated.

    • Cynic

      It would be even nicer to:

      1 have a copy of all notes and briefs prepared for the new board to allow them to conclude (with due diligence) that they had confidence in the Chief Executive

      2 understand who authorised and verified the accuracy of statements contained in those briefs and

      3 know ] what due diligence process they commissioned to ensure that the information given to them was correct

    • “Very serious questions must be answered.”

      CCNI should publish these questions now so that we, the public, can see how serious it is about protecting the consumer interest; this would also give us a measure of its competence.

    • One of Conor’s cronies has been (fo)fannying about in the Mournes:

      “One thing about this NI Water gig, it gets you out and about.”

      What a geg – almost as exciting as belly-boarding in Hawaii 🙂

    • Pete, that’s a really dire piece of BBC reporting. Do you suppose it might be a cut and paste job from a wire feed?

    • Pink Lady

      Shame on some sections of the Ulster press for reporting that an informal meeting of the 5 Non-Executive Directors (4 of whom are only new interims) was a ‘Board’ meeting, and that this statement of support for McKenzie was issued by the NIW Board.

      I am all for simplified summaries for the press, but not at the expense of accuracy!

      Some conversations, politics and stray insights –
      a) Before this (special) informal meeting it is likely that an urgent request has been issued from the Minister and DRD to shore up McKenzie. The last thing they all need, at present, is McKenzie to leave.
      b) The new NEDs have not yet had time to complete their own investigations. These are hopefully smart men and one also hopes that they will be diligent. The true range of McKenzies skills, strengths, and flaws will only be revealed to them as they spend increasing amounts of time observing McKenzie, reviewing and challenging his recommendations, and by discussing with others the impacts of his particular behavioural approach to management. The recent staff survey should assist this.
      c) They will, quite rightly, have not wanted to pre-empt the findings of the PAC.

      But have you ever noticed how football managers are sent packing just after a strong message of support from their Board?

      So we must all look to time, and the PAC to do their work. I hope that party politics will be left to one side at the PAC, and that the Seven Principles of Public Life will prevail.

    • Pink Lady

      For ‘press’ above, read ‘media’.

    • belfastjj appears to be the only one to have published correspondence that sheds any light on the power-play between the Minister’s private office and DRD senior officials in the NIW fiasco, Jim Allister the only politician to ask questions about this relationship and Sam McBride the only MSM journalist to bring the story to a wider audience.

      The tone of the Patterson-McGlade letter creates the impression of a ministerial special advisor directing each step of the interim NED selection process and a process which is well below par, indeed a process which is wide open to cronyism.

      So far, the Office of the Commissioner for Public Appointments appears to have adopted a very lethargic approach when it came to the handling of this ’emergency process’; AFAIK only a report has been requested. The last item of news from the office was in June.

      Also, the Consumer Council has failed to comment on an issue which is crucial to public confidence in the governance of NIW.

    • Pigeon Toes

      It’s amazing how the outcomes of investigations can differ, within NI Water. Does it depend on the identity of the whistle blower?
      More importantly, when did this “investigation”, was it part of the review commissioned by MacKenzie /Priestly / Murphy / the tooth fairy?
      Plus it was either “within the rules” or it wasn’t…

      http://news.bbc.co.uk/1/hi/northern_ireland/8531775.stm
      “NI Water ‘must toughen job procedures’

      Northern Ireland Water (NIW) must toughen up its procedures in relation to staff taking new jobs outside the organisation in order to protect the company’s reputation, an internal report has revealed.
      The recommendation stems from an investigation into a case where an NIW employee involved in awarding a contract to an outside company then went on to take a senior job with that company soon afterwards.
      Both the individual and the company were cleared of any wrongdoing, but the investigation said “learning points” had emerged.
      At the time the employee was bound by civil service rules on the appropriate authorisation he needed to take such a job.
      His line manager approved the move, but the report said that was “not strictly in accordance” with the rules….The investigation was launched after a senior manager received an anonymous letter in May 2009 from an employee who alleged the matter “stinks”.
      However, the inquiry did not find any evidence to support the whistleblower’s allegations.
      Strong feelings expressed by a number of staff in relation to the contract were “based on hearsay within the office”, it found.
      During the investigation, the head of the firm which won the contract revealed he had a long-standing friendship with the NIW employee, who later went on to work for him.
      The report found that at the time of the tendering process, no process was in place for potential conflicts of interest to be disclosed.
      Since April 2009, NIW employees on procurement panels have had to sign a conflict of interest document.”

    • interested

      just how much tax payers money is currently financing NIW? (in each of the last five years?)
      If water charges were to go ahead at the UK average of £300 a house over 500,000? houses it would come to a revenue of £150million a year-does this figure fit?-the interest in influencing such a spend is understandabe-might even be more lucrative than bank robbery!!

    • William Markfelt

      ‘the inquiry did not find any evidence to support the whistleblower’s allegations.’

      That’s ‘internal’ inquiry’.

      Which pretty much tells us all we need to know. About as much value as a Dutch Mountain Rescue Team.

      ‘no process was in place for potential conflicts of interest to be disclosed.’

      Which pretty much tells us all we need to know. The processes are about as much use as a chocolate fireguard.

    • Pigeon Toes

      William, the fact that these processes were not in place prior to 2009, might also have had a bearing on the later “shooting offences”.

      What is interesting though, that this information only came to light after an FOI request, by the BBC.

      One would have expected MacKenzie’s antennae to have gone up on hearing that.

      ow, there’s another investigation I would love to see the Terms Of Reference for ,the identity of the person undertaking the “investigation”,, and the minutes of any follow-up board discussion ( to see just how seriously the board was taking the issue)

    • “Does it depend on the identity of the whistle blower?”

      DRD rushed out some new whistleblowing guidelines in March 2009 in which they even dealt with matters raised by third parties:

      “Staff are nevertheless reminded that they have a duty of care to ensure that any such complaint is investigated, particularly if it involves a security or safety issue, and to bring it, in confidence, to the attention of an appropriate senior officer.”

      Unfortunately, some time previously a member of DRD staff had abysmally failed to respect the rights of someone who raised a safety issue in confidence.

      “We will not tolerate the harassment or victimisation of anyone who raises a genuine concern, and, given these assurances, we hope you will raise your concern openly.”

      Third parties, on the other hand, run the risk of harassment and victimisation by DRD and its ‘independent’ inquiries.

    • William Markfelt

      ‘there’s another investigation I would love to see the Terms Of Reference for ,the identity of the person undertaking the “investigation”,, and the minutes of any follow-up board discussion ( to see just how seriously the board was taking the issue)’

      Yes, those details would be very interesting indeed in such cases. I favour discontinuing ‘redaction’ on such matters because, if the allegations stick, they stick. If the allegations don’t stick, then that’s corruption at a level that may be far and above the seriousness of the initial claims themselves.

      It would also help establish the extent of back scratching (corruption again) that goes on when establishing the TOR to these ‘investigations’ and just how flawed their findings may be as a result of nepotism, between people, between departments.

    • William Markfelt

      Let me ask a simple question, since it may be presumed that a good many MLAs may read Sluggers or are kept informed of ‘the mood of the people’.

      Are there any MLAs out there with enough spine to look again at some of these seriously flawed historical investigations, while also examining the spectacular dodginess of NIW/DRD, and to press for these ‘investigations’ to be re-investigated independently this time? I mean, properly independently, which precludes the intervention of the fatally flawed NIAO.

      Are there any MLAs with the guts to request information pertaining to what appears to be an ongoing culture of flawed investigations?

      Are they prepared to press for a Public Inquiry into these matters and this time include ALL evidence as offered, as opposed to what often seems partial, in order to secure a ‘conviction’ (i.e. Declan Gormely’s missing testimony as offered to the IRT)?

    • interested

      and what an amazing press release on 27th by the interim chairman in the face of the well reported position adopted by elected politicians on the operation of this monopoly publically funded enterprise

    • malairt

      @William
      You can’t have external inquiries for everything. You’d paralyse the organisation and run up massive bills.

      No organisation has processes that are 100% comprehensive and cover every eventuality. Processes and procedures change as the perception of risk changes and the priorities of the managers who are running the show change.

      Your comment on redaction is a bit odd – if the allegations stick they should be made public, if they don’t stick it’s only because of corruption in the investigation process. That would imply that all allegations are true, which can’t be right. Or have I misunderstood?

    • William Markfelt

      ‘MacKenzie’s antennae’

      We need to stop this.

      Antennae are the sensory organs of antrhopods (insects).

      Spineless at that.

      And sometimes they feed off humans.

      I can’t see any analogy between a spineless insect that feeds off humans, and Wee Dangermite, so could every drop this comparison? Please?

    • interested

      and the interim chairmans info in the late press release that they are spending £365million a year(£1m a day)

    • William, ‘the vision of the NIAO is to promote accountability and the best use of public money’. So why doesn’t it do just that or is it suffering from blurred vision?

    • malairt

      The million a day figure was coined back in Katherine Bryan’s day and referred to capital expenditure of £1 million per working day. So about £240 million which I think was the Capex budget in 2007/8.

    • William Markfelt

      ‘You can’t have external inquiries for everything. You’d paralyse the organisation and run up massive bills.’

      Perhaps the investigations need to be more vigorous, transparent and fair to begin with, rather than us witnessing, time and time again, investigations where the their findings, based on a capacity to ‘be economical with the truth’ or, in some instances, palpably fail those who are alleged to have some protection afforded them, are failed entirely by that system.

      There’s human error, of course, but the NIA government machinery looks more like a widespread culture of destroying evidence, being economical with the truth, denying the accused a platform in which their voice can be heard (Declan Gormley, again) and that’s patently unfair and a clear denial of several people’s human rights.

      Why was Mr. Gormley denied a voice? Why was that chap who raised ferry safety ‘outed’? Why are the DRD at the centre of these failings, and these denials of human rights, each and every time?

      When a pattern emerges, it begins to look deliberate, and that’s why we need a Public Inquiry.

      And does cost really come into it the small matter of establishing the truth? I think the good people of Derry would, quite rightly, say ‘no’. And although no one has died in these other matters, lives are often altered forever because of a culture of deliberate denial of human rights. There is also a human cost involved (to a ‘lesser’ degree, but something we, as a community, and MLAs, as a group, cannot afford to ignore.

    • Pigeon Toes

      “malairt 28 August 2010 at 5:13 pm”
      The Commercial Director post was abolished with effect from 1/1/2010. The decision and process were tested with an external legal adviser and found to be legally compliant.

      When was the restructuring decision taken?
      How many posts were made redundant?

    • William Markfelt

      ‘the vision of the NIAO is to promote accountability and the best use of public money’. So why doesn’t it do just that or is it suffering from blurred vision?’

      Because it is in the pocket of the government, flawed, compromised and open to allegations of being more ‘corrupt’ that those it claims to investigate. (‘Corrupt’ in the sense that it does government’s bidding, as opposed to taking a bung, as the old footballing term runs)

      Stevie Wonder’s guide-dog-in-the-street can see that.

    • malairt

      “When was the restructuring decision taken?” You’d have to ask MacKenzie; it was announced to the Commercial team in mid November.

      “How many posts were made redundant?” In the Commercial team? one.

    • Pigeon Toes

      “Because it is in the pocket of the government, flawed, compromised and open to allegations of being more ‘corrupt’ that those it claims to investigate”

      Which is why John Dallat was calling for a more independent form of PAC, rather than members merely relying on the information coming from NIAO, which has after all been through the “clearance” process from the departments involved.
      The making public of those Priestly emails, both to NIAO and Dixon has firmly highlighted just how close and integrated that machinery is.

    • Pigeon Toes

      Thanks. Apologies for grilling ya, but how many post in total ?

    • Pigeon Toes

      “it was announced to the Commercial team in mid November.”
      And the post was gone by 01/12/10.

      That’s remarkably quick, for any organisation!

      Was there a call for voluntary redundancies prior to mid November.

    • malairt

      “How many posts in total?” Across NIW there have been hundreds over the last 3 years.

      The post was effectively gone when the announcement was made: the formal date was 1/1/10.

    • William Markfelt

      ‘rather than members merely relying on the information coming from NIAO’

      I think John may find it’s DISinformation.

      By contrast, Chemical Ali begins to look like a trusted source.

    • William Markfelt

      ‘the interim chairmans info in the late press release that they are spending £365million a year(£1m a day)’

      Any indications on how much of that would be on Health and Safety?

      The interim Chairman’s very keen on Health and Safety.

    • PT, it seems strange that they got rid of Gilmour when he seemed to be doing a good job: “William, I’ve just listened to the Gilmour presentation from May 2009. He expected £19 m savings by year end, some way ahead of the Assembly target, and during the course of the year, in association with Mellor, had nearly halved the expenditure on consultants.” [posted further up page]

    • Pigeon Toes

      It’s the position the becomes redundant Nevin, not the person…

    • interested

      I know it moving away from the core of this discussion about wrongdoing in high places but
      the £1million investment a day is interesting as an important proportion of this assumed debt is taken on by PPP contracted companies with 25 year fixed price contracts having fixed annual payments guaranteed by Government and paid by you as water charge(soon)-not clear what public visibility there is on the internal working of these contracted entities.

    • malairt

      I’m not clear on what you’re getting at here. The £1 million per day in NIW’s case is directly funded by DRD and has nothing to do with the PPP’s. If you look at NIW’s published annual accounts for 07/08 and 08/09 you can see where the figure came from.

      PPP’s in any context are funded by the finance houses who back the concessionaires, and were dreamt up by Gordon Brown as a way of getting capital investment into government enterprises without adding to government debt. The fact that it costs considerably more in the long term, seemed to bother him not a whit.

      Or have I misunderstood your point?

    • observer

      Peter Bunting was quoted in an Irish News article that he would get to the bottom of this before committing to anything. Does that mean he has got to the bottom of it last friday before he put his name to the board statement? Did he put his name to the board statement? The Irish News could follow that up to understand more.