The Irish Water saga continues today with the revelation that the results of a crucial EU test to assess the company’s financial viability will now not be known until at least summertime.
The Eurostat body, based in Luxembourg, is carrying out the test. Its results were originally expected to become known next month.
But now, the Taoiseach said to Fianna Fail TD Sean Fleming that the process will now not take place until June.
Mr. Fleming said that “this market corporation Eurostat test is the centrepiece of the Government’s entire Irish Water strategy.”
The European Commission recently voiced serious concerns about Irish Water’s financial position, and its ability to fund itself into the future
If the company fails to pass the critical EU test, the Government’s recent pledge to slash taxes and increase spending in next year’s Budget may be in serious jeopardy.