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 Saudi Arabia mosque bombing: Two volunteer security guards hailed as heroes for stopping Isis suicide bomber reaching worshippers
- 2 Maisie Williams has an excellent message for one confused fan
- 3 There is something wrong but very right about this Bible illustration
- 4 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
- 5 Tampon tax scrapped in Canada after petition convinces conservative government
Saudi Arabia mosque bombing: Two volunteer security guards hailed as heroes for stopping Isis suicide bomber reaching worshippers
Maisie Williams has an excellent message for one confused fan
Archaeologists discover 2,400-year-old gold bongs in Russia
Tampon tax scrapped in Canada after petition convinces conservative government
Migrants in Kos: Photos show real tragedy after British tourists complain of 'awkward' holidays
EU referendum: David Cameron's rules are a 'democratic disgrace', says French-born Scottish politician set to be denied a vote
British tourists complain that impoverished boat migrants are making holidays 'awkward' in Kos
A nation of inequality: How the UK is failing to feed its most vulnerable people
Australian man punched in the face for defending Muslim women from abuse on train
EU referendum: David Cameron to deny EU migrants and under-18s the chance to vote
David Starkey 'tells Amal Clooney to shut up and stop over-promoting human rights'
iJobs Money & Business
£30 - 35k: Guru Careers: We are seeking a Pricing Analyst to join a leading e-...
£20000 - £25000 per annum + OTE £45K YR1: SThree: At SThree, we like to be dif...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is a mul...
£55 - 65k (DOE): Guru Careers: A unique opportunity for a permanent C# Develop...