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CHIEF PFI CIVIL SERVANT GOES OVER THE FENCE

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The chief government official overseeing the private finance initiative, Douglas Hogg, is quitting to join the priv...
The chief government official overseeing the private finance initiative, Douglas Hogg, is quitting to join the private sector where he will have responsibility for an equity fund investing in PFI and other projects, reports The London Financial News (p29).

As managing director of public services and infrastructure for the Canadian investment bank CIBC Wood Gundy, Mr Hogg will manage a fund of £125m, believed to the biggest sum set aside by a financial institution in this way.

Mr Hogg said his move would benefit the PFI:

'Everyone is delighted that I'm staying in the PFI and will help now from the other side of the fence.'

Meanwhile, two thirds of British companies have never heard of the PFI, according to a survey of 1,000 firms by lawyers Manches & Co reported in Sunday Business (p4).

The survey reveals that the government has almost completely failed in its bid to get the message of the private financial initiative over to British business, the paper said.

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