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Before I return to the initial question about financial implications, I will talk about best value. Our understanding is that best value is not necessarily about achieving best financial value.
That allows tenants to select the contract that accommodates their interest in the best way, and it allows pubcos to match the tenants to the business model that will best fit them—and provide greater benefits to the pubco.
Sometimes, that has meant learning from and reflecting UK best practice, and sometimes it has challenged us all—including in Scotland—to go further and try harder.
Finally, we have now completed the best-value audits of all 32 councils, and are well advanced in developing our approach to the second phase—the best-value 2 audits.