Mr. Peter Walsh:

It is a matter of recognising that the cost of constructing something has to be paid. The forms of contract, we believe, will bring more fairness to this, although it is more onerous in terms of administration. It is an open-book type arrangement whereby the costs are known and there is a certain margin of profit that a contractor can make on it. It requires a high level of diligence but I think we have demonstrated that over the years from the perspective of roads. We have always had a very high level of involvement and oversight on site and in the contracts, so we are not worried that we cannot deal with that.

I refer to having internationally recognised forms of contract that international contractors have been trained in and are comfortable with and their risk committees know what they are getting involved in. I know I said I was not going to talk about public transport projects, but this is one area we are looking after and where we believe the need to have this internationally recognised form of contract, with fair sharing of risks, is one the Office of Government Procurement has recognised and will support.