Mr. Conor O'Kelly:

I suppose that, in everything, things change and not everything is going to work out as initially thought. However, I personally think there is a place for PPPs, particularly where one has scale - that is the most important thing - where one has a very low interest rate environment as we have right now, and where the State has got some on-balance sheet restrictions, which is the case right now. They are conditions where PPPs are attractive and should be looked at closely, but for smaller once-off projects it is not an effective mechanism. It is time-consuming. The real value comes in the cost and that really comes from the scale. That is a key element.