Select Committee on Public Accounts Minutes of Evidence


Examination of Witnesses (Questions 140 - 141)

WEDNESDAY 1 NOVEMBER 2000

SIR DAVID OMAND, MR MARTIN NAREY, MR DAVID KENT, MR ROBIN HERZBERG AND MR ANDREW BANKS

  140. If Mr Banks would help that would be helpful to us. The other thing is really almost a question of protection for you. I am going to ask the Committee for approval to put the transcript of today in the Library of the House of Commons. That will not happen immediately but you made one comment about the internal rate of return in response to a question from me inasmuch as you said the equity capital in the company is only about £100.
  (Mr Herzberg) Yes.

  141. It strikes me as slightly at odds with what the internal rate of return was. Maybe you were talking about return on capital there. I shall get the Clerk to send you a copy of the transcript. Would you just have a look at that and make sure that is accurate and if it is not I shall happily accept a correction to that because I would not want to put you in a position if we are publishing draft evidence—

  (Mr Herzberg) Thank you very much indeed. I shall properly consider it.

  Chairman: Thank you; and as quickly as possible because we need to put it in. Otherwise it remains for me to thank the witnesses for coming today. It has been an interesting session. It is one of these areas where you are at the cutting edge of innovation and we are interested spectators. Thank you very much indeed.





 
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