(11 years, 6 months ago)
Lords ChamberMy Lords, I encourage noble Lords to keep their questions brief. We have only 20 minutes and quite a few people want to speak.
My Lords, I very much welcome my noble friend’s Statement. GOCO will certainly introduce commercial disciplines and the incentives that can be provided by the private sector.
I have two questions for him. How long does he think these contracts will run for? How many years are we talking about? Will a GOCO address the question of the affordability of major projects? As we know, in the past we have seen enormous amounts of equipment ordered, particularly by the previous Government, although clearly there was not any money to pay for it. Will this introduction of a GOCO improve that situation in the future?