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• Question by: Bob Blackman
• Meeting date: 25 April 2007

Obviously you have not given us figures so, to a certain extent, we have got to conjecture what they are but, say, the cost of the Stadium in your budget is £250 million - I do not know if that figure is correct or not - and then you discover that, lo and behold, now £300 million is the true cost. Does that extra £50 million come from the contingency? What happens about that?

• Question by: Bob Blackman
• Meeting date: 25 April 2007

So is that procedure set up or is it to be determined?

• Question by: Bob Blackman
• Meeting date: 25 April 2007

Sir Roy , what I am trying to get at is how does the contingency fund work to fund specific projects?

• Question by: Bob Blackman
• Meeting date: 25 April 2007

So the process will be that you would have to make an application, and that application would be considered in the due fullness of time. Or is there a time period in which that should be addressed?

• Question by: Bob Blackman
• Meeting date: 25 April 2007

OK. You have this series of different projects, all with their own budgets within the overall budget, and you are going to put a series of contracts out to tender. Supposing, on the first one of those, you have a budget that says it is £250 million, but the cheapest cost comes in at £300 million. Does that mean the £50 million will come from the contingency fund, or does it have a knock on effect on the other budgets?

• Question by: Bob Blackman
• Meeting date: 25 April 2007

What happens after the £500 million contingency reserve is exhausted? Where do you go next?

• Question by: Bob Blackman
• Meeting date: 25 April 2007

Finally, what process is there for adjusting the prices within a contract once the contract has been let if unexpected costs arise?

• Reference: 2007/0023-1
• Question by: Bob Blackman
• Meeting date: 25 April 2007

Where do you anticipate the most likely pressures will occur that could result in having to use the contingency fund?