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Alexander, T2 funding has been explained previously on this forum, in the newspapers, on TV and on Radio. I am not about to explain it to you again.
The Treasury require 'fair market value' for the port, as do the DfT. Neither Charlie or I asked that this be the case and, in fact, have argued that the port should be endowed. However, the criteria around Trust Ports require that the treasury receives 'fair market value'. Insisting on getting the port for nothing would have achieved nothing except for a swift transfer under the DHB scheme and loss of the port forever into the hands of remote private equity owners. The DfT, Cabinet Office and the Treasury all made this abundantly clear.
The only opportunity at getting a land trust endowment of the port is to be taken seriously enough to ensure that the DHB proposals are rejected by making a funded, viable bid for the port at 'fair market value'. Once DHB proposals are out of the way and the next stage of the process, under the Public Bodies Act 2011, can be engaged, then, in Parliament, the chance exists to achieve a community land trust endowment of the port. However, if Treasury, the DfT and Cabinet Office insist on fair market value, then we know that that is achievable.