Enterprise and Regulatory Reform Bill

Debate between Baroness Ford and Lord Brooke of Sutton Mandeville

Monday 3rd December 2012 Grand Committee

[Baroness Ford]

There are ways of doing it. I do not wish to detain the Committee and perhaps I should have a cup of coffee with the noble Lord to explain; I mean that in a helpful way. Bonds are raised against the cash flows from projects. They are raised against an infrastructure project only if the Government underpin it—hence, PFI.

[Lord Brooke of Sutton Mandeville]

I encourage the Minister to try to turn not a duckling, but a cygnet, into a swan. A cygnet, in banking and legal terms, would have a greater significance than a ducking.