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CTRL no threat to PFI

PAYMASTER GENERAL Geoffrey Robinson this week gave assurances that the Channel Tunnel Rail Link crisis would not affect the rest of the Private Finance Initiative.

He said that the Treasury's PFI task force had now set up vetting procedures to stop projects hitting problems like those facing CTRL. 'Arrangements have been put in hand to make sure these things never happen,' he said.

The task force has imposed a regime which ensures that projects will not be allowed to proceed unless the public sector can afford them and the financial sector fund them.

Robinson stated that since the election PFI contracts worth a total of £1.5bn had been signed and that plans were in hand to bundle small projects into larger, easy to finance schemes.

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