Lessons learned
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Lessons for departments from the structure of the original deal:
Lessons for departments from the structure of the original deal:
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Revenue forecasts for start up businesses are subject to great uncertainty
Make sure that bidders for a deal are not encouraged to be over-optimistic
The equity capital to be invested in a project should reflect the risks of that project
Government guarantees of project debts are unlikely to be costless
Substantial risks arise if public sector assets are transferred in advance of external finance raising