That's the good news.
The budget is £5m for 2008/09, £7.5m for 2009/10 and £10m for 2010/11. That will barely cover the Stornoway-Ullapool service and not much beyond which strongly suggests that full RET is not scheduled until the next Parliament.
CalMac made a loss of £4.5m in 2006 for the Stornoway-Ullapool route which equates to income of (I guess) about £9m and costs of £13.5m. As fares will fall from about £100 per car to about £20, the subsidy required for this route is £7.2m, and that is before the increase in traffic that RET should generate. And the new ferry we will need to meet that demand.