What discount would investors actually apply?
Partly metMarket
Government decision required
Why it matters
The case assumes investors would accept a discount at or below 35%. Nobody has asked them.
If it fails
Above 35% the instrument is worse than paying cash competitively.
Open evidence gap
GAP-MARKET-SOUNDING
The evidence register is not reachable from here.
Evidence registerWho signs
Programme, with an external facilitator
Cannot start until
Nothing else waits on this.
Holds up
Nothing else waits on this.