I wish to advise the Deputy that I cannot comment on the review report referenced as it is not yet finalised. As you will be aware, in June 2019, the then Government gave an approval in principle of an expression of support for development at Waterford Airport and to providing Exchequer funding of €5 million towards this development project.
Government support was not only contingent on local authority and private investment necessary to complete the project being committed and any risks relating to cost escalation being borne by the non-State investors, but also on full details of the project being provided to my Department for appraisal. Despite engagement with the airport over the intervening period, this detail remained outstanding from Waterford Airport until 13 December 2023.
As set out to you previously, this detail is being reviewed by my Department in accordance with the Project Outline Document (POD) requirements of the Department's Transport Appraisal Framework (TAF) and the Infrastructure Guidelines.
My Department has prioritised this review, which will take account of the increased Exchequer funding contribution of €12 million now being sought. As would be expected with an appraisal process of this nature, a number of clarification requests and questions seeking further detail have been raised by the Department.
I wish to advise the Deputy that while an updated submission was received from the airport on 23 April, further outstanding supporting detail was only received this week (27 May). While this detail has addressed a number of matters raised, some detail remains outstanding. Officials are continuing to engage with airport management on these matters. Timely responses from the airport to all information sought will have a bearing on the timeframe for the completion of this present review.
Regarding other project proposals, I wish to advise the Deputy that the assessment of affordability is a key consideration in the appraisal of all investment proposals reviewed by my Department. As part of POD under the TAF, any transport investment proposal must outline the potential range of costs involved and outline the potential sources of funding, including consideration of existing public capital budget envelopes. If the proposal is developed further, the examination of affordability within existing resources must be updated appropriately in Preliminary and Final Business Cases. This assessment forms a crucial element of the overall appraisal document, alongside other elements like Cost-Benefit Analysis or equivalent analysis, and seeks to ensure that every transport investment proposal secures value for money in the use of scarce public resources.
