Increasing borrowings (beyond what is actually required for the project) allows the private sector to accelerate the benefits to their shareholders by enabling them to pay out inflated dividends shortly after refinancing. The private sector companies may find themselves able to borrow more for a variety of reasons, for example; the market has matured; the project has been successful to date; there has been a general fall in market interest rates, the lengthening of the borrowing period. An increase in the project's debt means an increase in termination liabilities for the public sector, and therefore the private sector requires permission from the public sector before it can proceed to increase its borrowings. The Treasury has advised that authorities must carefully consider the balance between the gains which they are to receive and the extra risk which they will accept if they agree to an increase of private sector debt during refinancing.