HISTORIC PRESS RELEASE : Top notch taskforce to reinvigorate PFI [September 1997]

The press release issued by HM Treasury on 22 September 1997.

Paymaster General Geoffrey Robinson today welcomed the appointment of members of the Treasury’s Project Taskforce, set up in response to the Malcolm Bates review of the PFI, saying:

“Today is an important step forward in harnessing private sector finance and expertise to fulfill the Government’s determination to deliver high quality value for money projects in the public sector. “I am pleased to see such a range of talent and experience coming forward to contribute to achieving the immense benefits to be gained from good PFI and Public Private Partnerships.

“Previously the lack of concentrated expertise, a proliferation of unprioritised projects and constant reinvention of wheels used to stand in the way of success. The Taskforce is going to provide the assistance and impetus required to improve projects and deliver a sound basis for future business”.

Eight individuals, all of whom will be full time public sector employees, will join the Taskforce for two years. Led by Adrian Montague, formerly of Dresdner Kleinwort Benson, they will play a crucial role in screening all significant PFI projects and help departments build up their PFI expertise. They will work inside the Treasury alongside its Policy team.

Malcolm Bates said:

“I was convinced that a small, highly skilled team of project – focused individuals inside the Treasury was vital to PFI success. But those people also had to command respect from Departments and the private sector alike. This team, whom I helped select from an impressive group of applicants, are all renowned in their own fields and bring with them a wide range of skills. They should do well.”

Adrian Montague, the Taskforce Chief Executive, said:

“This is a really strong team of young Turks; they have the qualifications, the experience in PFI deals and, above all, the feel for what the private sector wants from the PFI to be a really effective bridge between the public and private sectors”