Irish Water's seven-year business plan has been described as "wishful thinking and arrogance rolled into one".

Sinn Fein's David Cullinane made the comments after the firm announced a range of measures it hopes to implement in the coming years.

He said the plan is based on the assumption that 80% of households will pay their water bills, despite a current compliance rate of 51%.

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Senator Cullinane said: "This, the company tells us, should generate €2 billion in revenue by 2021 with a further €2 billion coming from business customers along with €3.8 billion in State subventions.

"The entire plan is predicated on compliance which is pure fantasy as this will never happen.

"An election is looming and there is agreement across the opposition that Irish Water should be abolished."

(CD/JP)