§ Dr. Moonie
There has been no change from the policy described in the DERA PPP consultation document published in April 2000. Our preference is to seek a flotation on the stockmarket as soon as QinetiQ's potential is suitably developed and as soon as we can ensure best value for the taxpayer. As identified in the consultation document, and subsequent statements on the way forward, we have kept open the option of seeking a strategic partner for the business as an intermediate step.
We have emphasised throughout this process that the precise timing and nature of the transaction will be dependent on value for money considerations and this continues to be the case.