Fury at ‘borrowing own money’ for meters

Outrage over why householders will have to pay back a Government “slush fund” for the cost of having water meters imposed on them despite bailed-out bankers being “let off” by the same institution erupted in the Dáil.

Independent TD Shane Ross expressed dismay people would be charged about €800 in standing payments for the meters to reimburse a €450m loan taken out from the National Pensions Reserve Fund to cover the rollout costs.

Households will be forced to pay about €40 a year over the next two decades to the fund at interest rates that could be as high as 6%.