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  • Potential for Further Budget Increases (Supplementary) [19]

    • Question by: Geoff Pope
    • Meeting date: 25 April 2007
    So you are reasonably confident that the figures will be achievable?

  • Potential for Further Budget Increases (Supplementary) [20]

    • Question by: Geoff Pope
    • Meeting date: 25 April 2007
    Now some of those items might be either subject to overrun, and therefore higher costs, or it is very likely that the cost of transport will increase at a fairly high inflation rate. How are you tackling that?

  • Potential for Further Budget Increases (Supplementary) [21]

    • Question by: Geoff Pope
    • Meeting date: 25 April 2007
    Can we move on to the budget item where we have absolutely no information, which is transport. We have a very exact figure of £794 million. What does this cover for the ODA core costs?

  • Contingency (Supplementary) [6]

    • 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?

  • Contingency (Supplementary) [8]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    So is that procedure set up or is it to be determined?

  • Contingency (Supplementary) [10]

    • 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?

  • Contingency (Supplementary) [11]

    • 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?

  • Contingency (Supplementary) [13]

    • 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?

  • Contingency (Supplementary) [15]

    • Question by: Bob Blackman
    • Meeting date: 25 April 2007
    What happens after the £500 million contingency reserve is exhausted? Where do you go next?

  • Contingency (Supplementary) [17]

    • 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?