PFI head to quit as scheme is reworked
Thursday 04 March 1999
Adrian Montague, who is in charge of the Treasury's PFI Taskforce, had been canvassed about staying on for a further year. But he is thought to have decided to leave when his two-year contract expires in August.
His departure would leave a questionmark hanging over the future of the entire taskforce. Its other 10 members, all drawn from private industry and finance, are also on two-year contracts which end this summer.
A wide-ranging review of the PFI conducted by the chairman of Pearl Group, Sir Malcolm Bates, is due to be delivered to the Chancellor before next week's Budget.
Mr Bates, who carried out the first review of the PFI shortly after Labour came to power, has been asked to examine how well the PFI has performed, the extent to which it is fully bedded down and what new institutional arrangements should be made when the taskforce reaches the end of its term.
Since Labour took office, a further pounds 4bn worth of public projects have been financed through the PFI, bringing the total value amount of private capital raised to pounds 11bn. The aim is to get a further pounds 3bn worth of projects financed through the PFI in each of the next three years.
- 1 Tourist films plane's descent just metres above packed Caribbean beach
- 2 Kate Moss: Previously unpublished nude photo revealed by Mert and Marcus
- 3 Indian woman creates 'Marriage CV' after parents put her on dating site: 'Definitely not marriage material. Won’t grow long hair, ever'
- 4 World Book Day: Boy 'excluded' from school after dressing up as Fifty Shades' Christian Grey
- 5 Bad Jews poster 'censored' on London Tube
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
Durham Free School: 'Creationism taught at' free school facing closure
End of the licence fee: BBC to back radical overhaul of how it is funded
Elif Shafak: Turkish author warns against rise of British nationalism
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
iJobs Money & Business
£13000 per annum: Recruitment Genius: This is an exciting opportunity to join ...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
£12 - £15 Hourly Rate: Jemma Gent: In this role you will report to the Head of...
£8 per hour: Recruitment Genius: This Pension Specialist was established early...