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« What does Irish Business Really Really Need? | Main | Apple Bites »

September 08, 2016

Comments

ourlittesecret

Great article. It's just symptomatic of a cowardly government that sees how systems around the world are floundering and use recession as an excuse to make massive cuts to everything but their own interests. I'll probably go on a watch list for saying this but I hope one day the complacency fades and the people will rise up united against them. We need a new system.

Antoin O Lachtnain

Your figures are incorrect. According to the cashflow statement in the annual report for that year, the subsidy in 2008 Was 107 million. Expressed as a proportion of total revenue, that is 107m/292m = 36 percent. There are other interesting items on the cashflow and segmentation that bring the actual subsidy to the PSO service to closer to 40 percent.

Michael Taft

Thanks for that Antoin. From my reading of the 2008 Dublin Bus Annual Report, the PSO payment was €85.8 million (page 18 and 19). Where did you find €107 million and what other interesting items are you referring to? Thanks. (http://www.dublinbus.ie/PageFiles/2430/AnnualReport2008.pdf )

Antoin

There is a 22 million capital subsidy on the cash flow page, from memory. there is also interest income, which I don't really understand though I think it relates to loans to CIE. There is also profit from the commercial services which subsidises the PSO service and this amounts to 5 million. As well as increasing the effective subsidy, the commercial services also account for part of the revenue. To calculate the percentage subsidy then the denominator needs to be decreased to take the non PSO services into account.

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