Mr. Robert Watt:

Yes. There is also a risk with a traditionally procured motorway where we might have said that X number of vehicles would use the road and it turns out the number is not X. In that case, there is not a financial penalty to the State in that sense but there is a significant loss to the State because the benefits of the road subsequently are not commensurate with the benefits we thought of. It is not the case that there are no risks with those type of contracts. In regard to PPPs, it is more transparent that we have not met the traffic projections, as opposed to projects which are procured traditionally. Where there is a loss to the State it is a notional loss because the value of the investment we made has not been realised.