Mr. Frank Daly:

That is the probable loss to the State. The one I am looking for is the one where he concludes that something was insufficient. I will revert to the Chairman on the matter. Effectively, the Comptroller and Auditor General stated that he had not been persuaded that, had we held on to the loans, we could not have got a better result. I take this to mean that, had we worked out the loans to 2020, we would have got £1.49 billion. That is the only way that one can work it-----