Denis O’Brien criticises proposal to suspend water charges

Businessman Denis O'Brien criticised the proposal to suspend water charges which has formed a central part of Fine Gael's deal with Fianna Fail to form a minority Fine Gael government.

Mr O’Brien said the plan to set up a commission to examine the issue meant it had been “kicked in the air and down the field.”

”The Government was wrong to back down on Irish Water,” Mr O’Brien said in an interview with Bloomberg Television, due to air Tuesday.

"All the infrastructure is Victorian for the supply of water in Ireland. "

Mr O’Brien was drawn into the water charges controversy after one of his companies was awarded a contract to install meters in 2013 as part of a consortium. Mr O’Brien said as much as €4 billion is needed to upgrade the water system.

He also said the ongoing political instability could have a wider impact on inward investment into Ireland, as concerns about a possible UK exit from the European Union mount.

"I really don't care who is in power but I think there needs to be stability in Ireland," Mr O'Brien said. "It's a time in Europe where a lot of unsettling things are happening."

Bloomberg