5. I agree,
incidentally, that it is ridiculous to object to borrowing for the Airport if it turns out to be necessary. But that pass has already been sold. I also agree with the remark about fixed price tendering, which can cut both ways. But I have been trying harder than Mr Gray not to play at nanny, and I do not think it is a big issue anyway. You might, incidentally, like to refer to my minute of 16 August, which discusses some of these issues in more detail.
6. I happened to have lunch yesterday with Rachel Lomax and John Yaxley to discuss the issues which were to have been considered in the course of her visit to discuss budget planning and control. She said that Paul Gray had reported two possible areas for investigation - the constant-prices planning system, and the possibility of doing more explicit project appraisal. As you will be aware, these are the ones we thought needed a look too as the many estimates of airport costs suggest.
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A
SH/Broadbent