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    Roger, I think people may have taken your posting to imply it was public money being used as opposed to private money  which is would be classified as public debt.

    Private money into public services is not new and comes off balance sheet as a PFI.

    DHB have ruled out PFI ,I presume bcause of management implications and examples of rip offs identified with existing schemes particularly NHS.

    The reality is that there are two schemes.

    1. The terminlal two proposal.

    2. The regeneration scheme.

    Both have to be financed but are separate projects but are interlinked because of roads, access etc.

    Terminal two could happen but the regeneration scheme needs elements of terminal two instructure to go ahead and be commercially viable.

    Both are exciting national and regional projects that are caught up with  general election politics and commercial breast beating.

    I don't know where the ferry operators think DHB pension shortfalls are to be met from, if not them and their customers?

    How do they meet their own company shortfalls?

    From the punter/us of course.

    Red herrings here, but makes a good story and plays into the general election agenda.

    Give six months and see  what has happened?

    Watty

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