That Irish Water is floundering is clear to all but the most stalwart Government acolytes.
Minister Kathleen Lynch has today said that a minimum of 50% compliance rate is needed, if the company is to have a future and to pass the Eurostat test.
To meet the standards of such test, Irish Water must show that half of its operating costs are sourced from customer’s revenue alone. If this is not achieved (i.e. if the company cannot sustain itself), it will be included in the Government’s books and thus count as state deficit.
It was revealed this week that less than half the expected households have honoured their first bill, leaving the company with a gaping €30m shortfall.