LOCOG Chief Paul Deighton Appointed to UK Government
By Community | September 4, 2012
Prime minister David Cameron has appointed the chief of LOCOG to oversee the delivery of UK infrastructure, ampoule saying: “This proves we mean business.”
As part of the government reshuffle, former investment banker Paul Deighton, CEO of the London Organising Committee of the Olympic and Paralympic Games, will become Commercial Secretary to the Treasury.
Mr Deighton will replace Lord Sassoon, who was appointed as the first Commercial Secretary to the Treasury in May 2010, at the start of next year.
It will give Mr Deighton responsibility for taking forward the National Infrastructure Plan. It will also include overseeing the new private finance initiative model and UK Guarantees scheme – where the government is looking at under writing infrastructure schemes.
Prime minister David Cameron said: “I am delighted that one of the most talented leaders Britain has is joining the Government. His appointment proves this Government means business in terms of delivering infrastructure projects and economic revival.”
Mr Deighton will be a Minister in the House of Lords and report to the Chancellor of the Exchequer as a Treasury Minister. His position will be unpaid.
Mr Deighton said: “Over the last 7 years I have seen extraordinary British companies and incredibly talented British people deliver on the building, staging and hosting of the London 2012 Games.
“The public/private sector collaboration in delivering these Games has been vital to their success. I am delighted to accept the Prime Minister’s and Chancellor’s offer to apply this experience and what we have learnt to the broader UK economy.
“I very much look forward to taking on my new responsibilities in January 2013. In the meantime my entire focus is on delivering a fantastic Paralympic Games that continues to showcase great sport and the best of Britain to the world.”
Chancellor of the Exchequer George Osborne said: “This summer with the Olympic and Paralympic Games, Britain has shown the world it can deliver a world-beating project on time and on budget.
“As Chief Executive of its organising committee, Paul Deighton has played a critical role in that. So I am delighted he has agreed to join the Government to bring his experience and expertise to economic development infrastructure.
“Paul is a man who has shown he can deliver. I am grateful that Lord Sassoon has agreed to stay on until Paul takes up his appointment, and thank him for his service to the Government. He’s done a very good job.”