€3m shortfall on M50 tolling

THE state suffered a cash shortfall of almost €3m in the first year of operation of barrier-free tolling on the M50 motorway following the Government’s controversial buyout of the Westlink toll bridge.

The Comptroller and Auditor General’s annual report reveals that the state suffered a net loss of €2.8m in operating the toll up to the end of July 2009, despite recording an operational profit of almost €65m.

The loss is largely explained by having to pay €51.3m to the private firm which previously owned the Westlink toll bridge, NTR, as part of the agreement to buy out NTR’s contract to operate the toll, combined with once-off construction costs of €11.5m and €4.8m for an independent tolling review.