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Taxpayers to compensate M3 toll firm for light traffic


MsAnneThrope

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Apr 8, 2009
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The latter part of this Prime Time program from 2005 deals with Tolls and how the Irish motorists are being ripped off for billions of euro, which are going into private pockets, all with our Government's blessing, support and encouragement. It is one of the greatest scams ever imposed on the Irish motorist. Vast profits are made over the 30 year lifetime of these toll road deals. The program also shows you where tolls are going to pop up in the future (some already have as the program is from 2005).
 

myksav

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May 13, 2008
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Not enough Traffic? Get State compo.

State to compensate M3 toll firm for light traffic - National News, Breaking News - Sligochampion.ie


Monday August 10 2009

Taxpayers will have to compensate the operators of the new M3 motorway if the number of motorists using the road falls below agreed targets.

For the first time, the National Roads Authority has agreed a "minimum traffic level" in its contract with the toll company Eurolink.

If traffic falls below expectations, the State will have to make up the shortfall in payments to the firm.

The NRA says the agreement is necessary to attract private investment in the project.

The controversial €650m motorway, which passes through the Tara-Skryne Valley in Co Meath, is due to open in the middle of next year.
See also: Taxpayerwill have to foot bill for M3 toll shortfall - National News, Frontpage - Independent.ie

Bail-outs for the banks and builders, now bail-outs for toll road 'owners'.

Couple of weird things about this.
The Greens are supposed to be into reducing car use to lower our "carbon footprint" and want a carbon tax. Now we see that more cars are needed to be used to reach a minimum income for toll road operators or we'll have to compensate the operators.

There is also the rail link the Greens have been pushing in the same area. If this is taken up instead of using cars, the toll operators, Eurolink, will have to be compensated for loss of earnings, by the taxpayers.

With this compensation package the Gov't have basically given to Eurolink, even those who don't drive will be paying for the N3 toll road unless sufficient drivers are forced to use the toll road.

This show well that Eurolink is not an entrepeneurial company, no risk to them if they don't make money directly on tolls, shure the taxpayer will pay.
Are they a private enterprise or not?
 
Joined
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@MichaelPolSci
So the fact houses aren't being lashed up along the M3 as expected means we have to compensate some company for making a bad business decision. PPP motorways are a good idea in theory but this provision is ridiculous.
 

mmrebel

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Jan 24, 2009
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758
Article in todays indo

TAXPAYERS will have to compensate the operators of the controversial M3 motorway if the number of vehicles using it falls below target.

It is understood this is the first time such a guaranteed minimum toll income has been agreed.

There will be downward pressure on the numbers using the M3, which opens early next year, because drivers could face €11.20-a- day in tolls and there will also be a new rail service to Navan.

The Dunboyne to Clonsilla leg of the rail link to Dublin opens next year, with the full line coming on stream in 2015.

The 'minimum traffic level' clause for the M3 was included in the contract for the €650m motorway through Co Meath. It means the State will have to pay the toll operators, Eurolink, compensation if traffic flows (predicted at up to 60,000 drivers per day) fail to meet the agreed minimum target. But the National Roads Authority (NRA) has not revealed what this target is.
Read the full piece
Taxpayerwill have to foot bill for M3 toll shortfall - National News, Frontpage - Independent.ie
 

MsAnneThrope

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Taxpayers to compensate M3 toll firm for light traffic
It's just ripe for abuse isn't it? What failsafe mechanisms are in place to verify the number of tolls received, or are we just going to take their word for it that they're €20,000,000 short, for example?
 

corelli

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Merged.
 

The OD

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Oct 10, 2005
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I wonder who could have been bribed in relation to this?

I heard the spokesman for the company running this on Newstalk this morning, a guy with an incredibly annoying Irish-American accent (I think anyway) defending their taking 2 payments of €2.80 on on stretch of road, making a grand total of €11.20 for a round trip.

Makes the mind boggle, normally I abhor violence, but this guy had me fantasising about running the car up to 90mph and holding his face to the road below so I could literally wipe the smug expression (yes, it actually beamed out of the radio into my car if you can believe that, it was that smug) off his face.
 

The OD

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State to compensate M3 toll firm for light traffic - National News, Breaking News - Sligochampion.ie




See also: Taxpayerwill have to foot bill for M3 toll shortfall - National News, Frontpage - Independent.ie

Bail-outs for the banks and builders, now bail-outs for toll road 'owners'.

Couple of weird things about this.
The Greens are supposed to be into reducing car use to lower our "carbon footprint" and want a carbon tax. Now we see that more cars are needed to be used to reach a minimum income for toll road operators or we'll have to compensate the operators.

There is also the rail link the Greens have been pushing in the same area. If this is taken up instead of using cars, the toll operators, Eurolink, will have to be compensated for loss of earnings, by the taxpayers.

With this compensation package the Gov't have basically given to Eurolink, even those who don't drive will be paying for the N3 toll road unless sufficient drivers are forced to use the toll road.

This show well that Eurolink is not an entrepeneurial company, no risk to them if they don't make money directly on tolls, shure the taxpayer will pay.
Are they a private enterprise or not?
It would be nice to get the compensation figures, the way I look at it, if they are compensated for 20,000 cars per week (for example purposes) then surely I could drive up the barrier and pass through free, if asked, I could say that I have already paid for it.

Think that would work?

Me neither, only people like John O'Donohue and his ilk get away with that level of brass neckery.
 

controller

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Feb 25, 2009
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3,176
I'm a bit thick about all this. Was this a normal contract, with all the normal provisions, such as this clause about compensating a business for a bad decision........or is this just more of the same from FF? Seriously, could somebody / anybody who can check this do so BEFORE I EXPLODE:mad:
 

crocked

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Jun 25, 2008
Messages
171
I'm a bit thick about all this. Was this a normal contract, with all the normal provisions, such as this clause about compensating a business for a bad decision........or is this just more of the same from FF? Seriously, could somebody / anybody who can check this do so BEFORE I EXPLODE:mad:
It is understood this is the first time such a guaranteed minimum toll income has been agreed.

From: Taxpayerwill have to foot bill for M3 toll shortfall - National News, Frontpage - Independent.ie
 

MsAnneThrope

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SPN

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Feb 2, 2004
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Couple of weird things about this.
The Greens are supposed to be into reducing car use to lower our "carbon footprint" and want a carbon tax. Now we see that more cars are needed to be used to reach a minimum income for toll road operators or we'll have to compensate the operators.
Nothing to do with the Greens I'm afraid. This deal was signed by the previous Government.


I have consistently said that PPPs are a scam designed to rip off the taxpayer, and I doubt that this is the last dodgy contract term that will come to light.


You will recall that the Incinerator operators were pushing a similiar put-or-pay revenue guarantee for their schemes too - until John Gormley made them illegal.
 

SPN

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Feb 2, 2004
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16,890
Then the Greens should insist that this is treated like the pharmacy issue. The contract should be ripped up and a new one offered on a take it or leave it basis.
LOL!

The world doesn't work that way my friend. ;)
 

wysiwyg

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Jun 29, 2008
Messages
366
It is absolutely crazy all right.. if you make loads of profits, you can keep them.. if you don't, we'll make them up for you

This isnt investment, this is plain and simply corruption.. of the highest order

If the tool is going to make money one way or the other, then the state should have built it and run it.. no private company should have been brought into the mix at all
 

Wakeupcall

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Jan 7, 2009
Messages
1,017
This is a TOTAL JOKE

These are the same CLOWNS that want you to vote YES to LISBON.

Let me tell you. Voting YES will be the worst decision this government ever CONNED you into making.

Vote NO for FREEDOM
 

Akrasia

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Oct 6, 2006
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Heads I Win, Tails, You lose!
 
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