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Neil, apart from the fact that borrowed money - £50 million - cannot generate into hundreds of millions of pounds, especially when deducting from that sum the costs for structural regeneration with no profit, there is also the fact that the DPPT proposal makes no allowance for the required £85m investment in the Eastern Docks or the £250m needed to build a new terminal.
DPPT would have to borrow at least £600 million, 250 for T2, 85 for Eastern Docks, 200 for the Treasury, 50 for the District.
I cannot see a Charity obtaining Port ownership and permission to borrow money for local regeneration.
These things simply do not function under a charity.
The only way forward is through a continuous Port Revenue for local communities in all British ports, This would put the local Community in a position to finance local regeneration and to contribute to the maintenance and expansion of its port structure.
I'm afraid the realistic figures as to what DPPT would have to borrow are those I mentioned in paragraph 2, in order to be able to run the Port, as the Government has given DHB the go-ahead for the construction of a T2.
I know Peter, as a DPPT director, has stated in the past that there is no real need for a T2, but actually there is!
If DPPT want to go along the road of borrowing money and getting the Port in debt, at least state realistic figures and keep in line with requirements for Port expansion (T2) as required by the Department for Transport.