Search questions

• 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?

• Question by: Bob Blackman
• Meeting date: 17 January 2007

Were these rather bizarre people that want to limit your scope for investment to get their way, what would be the financial effect on the pension funds of a blanket ban, say, on any companies that were involved in any form of defence or arms trade, or tobacco for that matter?

• Question by: Bob Blackman
• Meeting date: 17 January 2007

I just want to follow up on the issues here. If there were blanket bans or your opportunity to invest was fettered in any way, shape or form, would that throw off the 15 year plan to fully funding the plan?