Highways (Financing) Bill (Second sitting)
<strong>Q</strong><strong><QNum HRSContentId="{209BFCB0-04C5-453B-BF8C-F42833901873}"> </QNum></strong> It has been really clear today that cost control is a crucial element in the success of this project. Should there be safeguards for motorists within the regulatory framework where, for example, unexpected charges arise or costs are excessive? <em><strong>Will Godfrey:</strong></em> At the heart of the regulator’s responsibilities would be furthering the interests of current and future users. Those are exactly the kind of considerations that would be at the heart of how you approach the regulation, how you set up the instruments—I am referring specifically to the licence—and how you then hold the company to account against that licence. For the first control period, in the case of the lower Thames crossing, the licence would be awarded by the Department, so the particular tolling structure and the level of tolls would be set through that competition for the first licence. Thereafter, the way that the ORR operates is that the code that the ORR would be responsible for creating on the approach to tolling arrangements will clearly be important once you are past that first point. My feeling is that the arrangements necessary to provide protections to end users around, for example, tolling and toll shocks and so on feel about right to me in the enabling legislation. What is really important is what goes into the licence and what we put into the code, and then how the company responds. I hope there will be a virtuous circle, in which there is a clear signal of what is expected, we hold the company to account, it delivers and implements it, and we then take the feedback from the market. I do not know if you were anticipating a different concern, but I will pause there in case I have not answered your question.