The Department validated the amount required

2.8 The Department's initial response in late 2001 was that the Government would only act as a responsible shareholder on the basis that all other stakeholders including the Company, the banks, the other shareholders and the Company's customers had also made a contribution, and would not expect to contribute until the extent of the decline in traffic had become clearer. Throughout early 2002 these matters were clarified, and in July, NATS submitted a formal business case for a total investment of £130 million, of which £65 million would be from Government. In evaluating this business case, the Department's advisers, Credit Suisse First Boston, stated that it represented a compelling case for investment, whilst noting that validating the amount required is not an exact science. The investment would unlock other essential elements of the Composite Solution and generate an annual real return to the taxpayer of eight per cent. In particular, the fact that the CAA would not relax the cap on NATS' prices without more equity on the balance sheet was "the single most important argument in favour of providing additional investment".