An important story broke in The Currency magazine today relating to National Broadband Ireland, which could have serious implications for the roll-out of broadband across rural Ireland. In May 2019, I warned the then Taoiseach and current Tánaiste, Deputy Leo Varadkar, that the contract signed by the Government to deliver the national broadband plan was a bad deal for the taxpayer. I raised a concern that the contract would see the taxpayer shell out over €3 billion up front to roll out the broadband network and, at the end of the day, the State would not own the infrastructure. I also raised the concern that the bidder had very little skin in the game and could walk away at any time.

It now transpires that the Secretary General of the Department of Public Expenditure and Reform, Mr. Robert Watt, shared my concerns. In a memo to the Government he described the contract as a "leap of faith" with "unprecedented risk" to the Exchequer in an asset we will not even own. Today's article raises serious questions about this deal. Will the Taoiseach confirm that Oak Hill Advisors are the ultimate majority shareholder of National Broadband Ireland? This is crucial because Oak Hill Advisors is a US firm specialising not in long-term infrastructure investment but as a vulture fund investing in distressed debt. Will the Taoiseach confirm how much this consortium has contributed and how much it has already recouped from this deal?

The Deputy will recall that at the time the contracts were signed I was standing where she now stands. We had a robust debate around broadband more generally. The memo she referenced was published at the time in The Irish Times, if I am not mistaken, and that generated a lot of debate in this House. I may have asked questions about it at the time, so intrigued was I by that memo.

The Taoiseach might answer the question.

I am just pointing out that what the Deputy is revealing is not new. In terms of the memo and so on, these are not new developments. In terms of broadband, the contract is signed and the Government's focus is on rolling out broadband and getting it as widely distributed across the country as we can.

What about Oak Hill Advisors? That was my question. Will the Taoiseach confirm-----

That is a matter for parliamentary questions.

The Taoiseach does not know.