Deputy Prime Minister John Prescott is to run the Olympic construction programme if London's bid to host the 2012 Olympics succeeds. The decision comes despite fears among MPs and officials over his mixed track record on delivering major projects.Goldman Sachs and corporate finance boutique Lexicon have been appointed to advise on the funding of London's Crossrail project.
Transport experts say the funding structure could be complex, involving a special London business rate to help finance the £10bn project.
Billions of pounds of public money will be needed to fund a new generation of eight nuclear power stations, according to a report by Oxera this week. The think tank says that potential investment returns would be too small to attract private investment, unless huge capital grants or debt guarantees are provided.