Mr. Peter Walsh:

No. What happened at the time, from my perception of it, was that we came to 2007-2008, and we launched the new public works contracts and the contracting industry was in trauma. Contractors took on contracts in order to keep working. The outturns were far less in terms of the differential between the initial tender sum and the outturn and this was interpreted in some way as being a fairer mechanism but in fact they suffered, in my opinion. They took it on the chin in order to survive. Unfortunately, it was seen as proof positive that this level of risk transfer is acceptable to the industry. We did nothing for quite a few years.