Mr. Peter Walsh:

We discussed it earlier. I feel I cannot comment on any concerns we might have. We see significant volatility in the prices of materials. What we are proposing to the committee today is that indexation within contracts would be helpful and would reflect either increases or decreases in prices, which may happen too. Asking contractors to tender for work with fixed prices and trying to include what they think will happen will either add to the inflation pressures or lead to unsustainably low contract values if the price change materialises.

I do not know whether I can usefully comment further than that. The Chairman talked about interaction with other elements-----