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• Question by: Kit Malthouse
• Meeting date: 05 June 2013

Kit Malthouse (AM): Professor, it is very interesting, what you have been saying this morning. Obviously the restrictions on borrowing by local authorities were loosened in 2003. I hesitate to be political about it, but the strict introductions that were introduced in the 1980s were in response to irresponsible borrowing by a number of local authorities, not least Liverpool and Hammersmith and Fulham, interestingly, and also I think the interest rate swap debacle where Hammersmith and Fulham lost the case on their treasury management and got into all sorts of trouble. The reason that the Government introduced those restrictions back...

• Question by: Kit Malthouse
• Meeting date: 10 March 2010

I wanted to explore your not-for-profit status. My assumption, from what you are saying, is that, with the not-for-profit status of the Legacy Company, it is not, therefore, envisaged there will be any return to the shareholders at any point, and that any surplus that may or may not arise would be ploughed back into the Park effectively. You are saying it may be the case that actually it is the reverse; it is not only a not-for-profit company but it might be a, 'We need more money company' and that you might look to the shareholders for more money...

• Question by: Kit Malthouse
• Meeting date: 10 March 2010

It sounds to me like you are saying, in coded language, that the retention of the athletics obligation is a disincentive, effectively, for commercial companies to come forward and use the stadium. Is that right?

• Question by: Kit Malthouse
• Meeting date: 10 March 2010

On remediation, are you aware of any warranty protection that the ODA might have on remediation with the contractors and, if so, will you inherit it? If not, is there a general remediation insurance policy in place for any works that may or may not be needed, and are you going to inherit and therefore keep that one on?