210. If he goes bankrupt tomorrow, who bales the project out anyway?
(Sir Kevin Tebbit) The banks. That is one of the reasons why the rate is the level it is. From the point of view of the Ministry of Defence, I simply have to say that we had no choice in the matter. We have to apply the rules. If I had a lower unitary payment to make each year as a result of this, there would still be a higher risk of a default and somebody else would have to pay the difference, which would be the taxpayer.