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Treasury Minutes On The Twenty Third Twenty Fourth Twenty Sixth Twenty Eighth And Thirty First Reports From The Committee Of Public Accounts
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Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215037350 Total Pages :44 pages Book Rating :4.0/5 (373 download)
Book Synopsis H.M. Treasury by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book H.M. Treasury written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2007-11-27 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under the Private Finance Initiative (PFI) there are now 800 contracts with private sector suppliers for services worth in total £155 billion up to 2032. To achieve value for money, all stages of a project have to be managed effectively, including in the tendering process. The Committee, in a 2003 report highlighted a number of issues regarding the PFI tendering process (HCP 764, session 2002-03, ISBN 9780215011244). This report re-examines the tendering and benchmarking in PFI, finding that the Treasury had done little to apply what it had learned from the large number of PFI deals signed; that there has been no improvement in tendering times and significant risks to value for money continue to be taken when public authorities make late changes to deals. The Committee has set out 7 conclusions and recommendations, including: that since 2004, the proportion of deals attracting only two bidders has more than doubled with the risk of no competition; one third of public sector teams made changes to PFI projects after they had selected a single, preferred bidder; benchmarking and market testing have increased prices by up to 14%; public authorities have found it difficult to find appropriate data to benchmark PFI service costs; there is evidence that public authorities, faced with price increases have had to cut back services in hospitals, including portering, to keep contracts affordable; that there is a continuing lack of PFI experience and skills within public procurement teams.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :0215034570 Total Pages :52 pages Book Rating :4.2/5 (15 download)
Book Synopsis The right of access to open countryside by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book The right of access to open countryside written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2007-06-21 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Countryside Rights of Way Act 2000 introduced a public right to walk across designated mountain, moor, heath, downs and registered common land in England. DEFRA tasked the Countryside Agency with opening-up the new access by the end of 2005, and the target was met with two months to spare. However the implementation of the right to roam cost the Countryside Agency £24.6 million more than anticipated, with knock-on impacts on other programmes. This report looks at the implementation of open access and the effect of the policy under the headings: encouraging the public to use the right to roam across the countryside; protecting the environment of access land and the rights of landowners; improving planning and project management. However the success of legislation is as yet unknown because there is no information on the extent to which the public are making use of their new right. In October 2006 the responsibility for open access passed from the Countryside Agency to Natural England.
Book Synopsis Journals of the House of Commons by : Great Britain. Parliament. House of Commons
Download or read book Journals of the House of Commons written by Great Britain. Parliament. House of Commons and published by . This book was released on 1885 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215561848 Total Pages :44 pages Book Rating :4.5/5 (618 download)
Book Synopsis DfID financial management by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book DfID financial management written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-10-20 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report examines the Department for International Development's financial management capability, its increasing focus on value for money, and the challenges it faces in managing its increasing programme budget while reducing its overall running costs. DFID is protected from overall expenditure reductions as the Government has committed to increasing the UK's aid spending to 0.7% of gross national income by 2013. The Department faces a substantial challenge to improve its financial management while reducing its administration costs by a third over the next four years. The Committee welcomes the planned introduction, in 2011, of a finance improvement plan. DFID must now keep up the focus on better financial management. There is concern that the Department does not quantify the likely level of leakage through fraud and corruption. And DFID is only considering fraud risk at the level of delivery method rather than at a country level. Management of fraud risk will require a stronger framework for ensuring money is properly spent on the ground, with effective monitoring and pro-active anti-fraud work. The likely increase in funding via multilateral organisations (which then determine how to distribute the aid worldwide) might not ensure value for money as DFID does not have the same visibility over the cost and performance of multilaterals' programmes as it does over its own bilateral programmes. Finally, the Committee is concerned that the Department still has insufficient data to make informed investment decisions based on value for money.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215043351 Total Pages :44 pages Book Rating :4.0/5 (433 download)
Book Synopsis Ministry of Justice financial management by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Ministry of Justice financial management written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-03-20 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Ministry has improved its financial management since the Committee's last report in January 2011 (HC 574, ISBN 9780215556042). Many of the Ministry's processes have improved, including modelling and forecasting, but the Ministry has not achieved significant improvements in the delivery of key financial outcomes and therefore has much still to do. The most serious issue is the Ministry's inability to report its financial affairs on a timely and accurate basis. The Ministry's own resource accounts for 2010-11 were delivered late and there were significant problems with the accounts produced by two of its major arm's length bodies, the Legal Services Commission and HM Courts Service's Trust Statement. The Ministry faces significant accounting challenges for the 2011-12 financial year, due to the required earlier publication of the accounts. The Ministry needs to break the cycle of continuing failure to produce accurate and timely accounts. It also faces considerable challenges in meeting its tough spending review commitments, but without a full understanding of its costs, the Ministry risks unnecessarily cutting frontline services, which are critical to the poorest in the community, rather than ensuring savings are achieved through genuine efficiencies. Maximising the income it obtains will help the Ministry and fine collection is improving, but it is being outpaced by the growth in fines outstanding. Excellent financial management is critical to the Ministry's future success as it seeks to achieve significant efficiency gains while coping with workload pressures, such as increases in the prison population, that are largely outside its control.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215042842 Total Pages :56 pages Book Rating :4.0/5 (428 download)
Book Synopsis Preparations for the London 2012 Olympic and Paralympic Games by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Preparations for the London 2012 Olympic and Paralympic Games written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-03-09 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Olympic Delivery Authority's management of its building programme has been exemplary but, due to significant increases in the cost of venue security, the likelihood of staying within the overall £9.3 billion Public Sector Funding Package is very finely balanced. The Funding Package does not cover the totality of the costs to the public purse of delivering the Games and their legacy, which are already heading for around £11 billion. Operational and financial risks have emerged in areas of the London Organising Committee of the Olympic and Paralympic Games' responsibility, and LOCOG itself now has almost no contingency left to meet further costs, even though it has done well in its revenue generation. The number of security guards required in and around the venues has more than doubled, and renegotiation of the contract for venue security does not appear to have secured any price advantage. With only 109,000 new people regularly participating in sport against an original target (which the new Government chose not to adopt) of 1 million by March 2013, the Department for Culture, Media and Sport has got poor value for money for the £450 million spent through sporting National Governing Bodies. It is unclear what the sporting participation legacy of the Games is intended to be. Responsibility for delivery of all legacy matters is shared across many different parts of Government, and this rings alarm bells about the effective integration of the various legacy plans and about clear accountability to the taxpayer.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215045058 Total Pages :56 pages Book Rating :4.0/5 (45 download)
Book Synopsis Adult apprenticeships by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Adult apprenticeships written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-05-17 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department for Business, Innovation and Skills works with the Skills Funding Agency (the Agency) and the National Apprenticeship Service (the Service), to deliver the Apprenticeship Programme. Adult apprentices represented 325,500, or 71%, of the 457,200 apprentices who started their apprenticeship in the 2010/11 academic year. During the 2010-11 financial year the Department spent £451 million on adult apprenticeships. The Programme has been a success more than quadrupling the number of adult apprenticeships in the four years to 2010/11 and the proportion of adult apprentices successfully completing their apprenticeship has also risen, from around a third in 2004/05 to over three-quarters in 2010/11. Further work, however, needs to be done to maximise its impacts. The Department should improve its understanding of which apprenticeships offer the biggest returns. The Service should give both employers and individuals better information about the benefits arising from different types of apprenticeship, as well as about the quality of the many training providers. The Service should do more to increase the number of employers offering apprenticeships, and to increase the proportion of advanced skill level apprenticeships achieved, moving England closer to the levels delivered in other European countries. Importantly, around one in five apprenticeships lasted for six months or less. The Service accepts concern that apprenticeships lasting for such a short period are of no proper benefit to either individuals or employers. The Service says it is tackling the problem but it needs to do more to guarantee the length and quality of training -especially the off-the-job training apprentices receive
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215038548 Total Pages :56 pages Book Rating :4.0/5 (385 download)
Book Synopsis Protecting consumers - the system for enforcing consumer law by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Protecting consumers - the system for enforcing consumer law written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-11-09 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Commons Public Accounts Committee publishes its 54th report of Session 2010-12, on the basis of evidence from consumer groups, the Department for Business, Innovation and Skills, the Office of Fair Trading, and the Trading Standards Institute, examining the current arrangements for the enforcement of consumer law, and the proposed changes to the regime. Individual consumers lose around £6.6 billion every year because of the malpractices of traders. At least £4.8 billion is lost through malpractices which occur at a regional or national level, such as mass market scams, counterfeiting, and unscrupulous traders who operate over large geographical areas. The Department has overall responsibility for policy on consumer protection. However, the majority of enforcement work, from weights and measures testing to the prosecution of rogue traders, is carried out by local authority Trading Standards Services, each with jurisdiction in only its own local area. The Committee states, that the Department has limited understanding of the true cost of protecting consumers or of the success of existing interventions. There is no clear and complete information on how much enforcement activity actually costs. The approach to enforcing consumer protection has not kept pace with the changing nature of the problems it is intended to tackle, such as online shopping. Any changes the Department makes must deliver a system fit for the modern era. Responsibility for tackling regional and national instances of malpractice or rogue trading must be clearly designated.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215040183 Total Pages :44 pages Book Rating :4.0/5 (41 download)
Book Synopsis Means testing by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Means testing written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-01-12 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Government uses means testing to distribute at least £87 billion of benefits to claimants each year, around 13% of total public spending. The poorest fifth of households rely on means-tested benefits for a third of their net income. The planned introduction of a new means-tested Universal Credit will replace a number of existing means-tested benefits. Currently 30 different means tested benefits are managed by nine departments and 152 local authorities in England. But Departments have a limited understanding of how their design of benefits affects incentives for employment, the burden on claimants, take-up and administrative costs. Departments need to improve their understanding of how all benefits interact and how changes to eligibility rules can affect claimants. Complexity increases the burden on claimants which can harm take-up, and is likely to disadvantage the most vulnerable members of society in particular. The Government expects Universal Credit reforms to simplify the system and improve incentives to find work. The DWP's priority is to focus on the effective delivery of these reforms. However, success will also depend on proper coordination between Universal Credit and other means-tested benefits. In addition, DWP and HMRC are designing a real-time information (RTI) system for Universal Credit to reduce the risk of overpayments, with benefits being recalculated as soon as circumstances change. Both DWP and HMRC need to understand how the introduction of this system will impact on small businesses and the self-employed who may not have the necessary IT to administer it.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215041524 Total Pages :56 pages Book Rating :4.0/5 (415 download)
Book Synopsis DFID by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book DFID written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-02-03 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: The DFiD's transfer programmes deliver cash, food and assets, such as livestock, directly to people living in poverty. Transfers can be used to tackle a range of issues, such as hunger and malnutrition, or access to health and education services, in a variety of contexts. In 2010-11 the Department spent £192 million on social protection programmes, which includes its transfer programmes. The evidence heard suggests transfer programmes are effective in targeting aid, and ensuring the money goes directly to the poorest and most vulnerable people. It is therefore surprising that the use of transfer programmes has not increased. The Department only plans to support transfer programmes in 17 of its 28 priority countries. It does not have an overall strategy for the use of transfers and its decisions on where to support transfer programmes look reactive. The decision as to whether or not to propose a transfer programme is taken by staff working in the country and it is not clear why there are extensive programmes in some countries and none in others. The Department does not collect data on all the costs of the transfer programmes it supports and the Department is therefore unable to say whether it is lifting more people out of poverty for every pound spent on transfers compared to other programmes. The Department's long-term objective is for the governments of recipient countries to take on the responsibility of owning and funding transfers as part of a sustainable social security system. However, the Department has not been clear about how individual programmes will be sustained
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215043764 Total Pages :44 pages Book Rating :4.0/5 (437 download)
Book Synopsis Reorganising central government bodies by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Reorganising central government bodies written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-04-24 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under the Public Bodies Reform Programme the Government is reducing the number of its arm's length bodies from 904 to between 632 and 642 by the end of the current Spending Review period and will have a substantial and lasting impact. The Programme is intended to improve accountability for functions currently carried out at arm's length from Ministers. The Cabinet Office says it is on track to make £2.6 billion of administrative savings by 2015. However there are substantial reservations about the robustness of this claim. Key concerns are that: there is a risk departments are claiming savings which are actually cuts to services, when they should be including only genuine savings arising from administrative reorganisations; estimates of transition costs such as redundancy and pension costs are incomplete; the savings estimate does not fully take account of the ongoing costs to other parts of government of taking on functions being transferred from abolished bodies and some departments have wrongly included wider savings from bodies being retained, rather than just administrative savings from bodies being abolished or substantially reformed. The Cabinet Office has accepted that its savings estimate needs to be reassessed and has undertaken to 'rebase' it. Focus now needs to be on managing the Programme effectively. Departments have decided on the form of individual reorganisations themselves without clear direction from the centre, leading in some cases to inconsistent treatment of bodies with similar functions. Furthermore, departments may not be getting the best value for money from the sale or transfer of assets of bodies being abolished
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215038968 Total Pages :44 pages Book Rating :4.0/5 (389 download)
Book Synopsis The cost effective delivery of armoured vehicle capability by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book The cost effective delivery of armoured vehicle capability written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-12-09 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Armoured vehicles such as tanks, reconnaissance and personnel-carrying vehicles are essential for a wide range of military tasks. Since the 1998 Strategic Defence Review, the Ministry of Defence has attempted to acquire the vehicles it needs through a number of procurement projects. However, none of the principal armoured vehicles it requires have yet been delivered, despite the MoD spending £1.1 billion since 1998, including £321 million wasted on cancelled or suspended projects. As a result there will be gaps in capability until at least 2025, making it more difficult to undertake essential tasks such as battlefield reconnaissance. Partly as a result of this £1.1 billion failure to yet deliver any armoured vehicles, and to meet the specific military demands of operating in Iraq and Afghanistan, the MoD was provided with a further £2.8 billion from the Treasury Reserve to buy Urgent Operational Requirements (UOR) vehicles. Over the past six years, the Department has removed £10.8 billion from armoured vehicle budgets up to 2021. This has left £5.5 billion available for the next ten years, which is insufficient to deliver all of the armoured vehicle programmes which are planned. The MoD needs to be clearer about its priorities, and stop raiding the armoured vehicles chest every time it needs to make savings across the defence budget. It will also need to set more realistic requirements in future if it is to deliver projects on time and to budget. The Committee expressed concern that the Department was unable to identify anyone who has been held to account for the clear delivery failures. Further, the MoD has yet to balance its defence budget fully and devise a plan to close capability gaps, despite having conducted the SDSR and two subsequent planning exercises. It needs to determine its armoured vehicle equipment priorities and deliver these as rapidly and cost-effectively as possible, including making an assessment of which of its existing vehicles should be retained after combat operations in Afghanistan cease.
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215044075 Total Pages :48 pages Book Rating :4.0/5 (44 download)
Book Synopsis Department for Education by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Department for Education written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-05-11 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Department for Education is distributing £56.4 billion in 2011-12 to schools, local authorities and other public bodies for the delivery of education and children's services in England. The Department has set out how it intends to provide Parliament with assurance about the regularity, propriety and value for money in an Accountability System Statement (the Statement) of which the Committee has now seen three drafts. Responsibility for value for money is shared by the Department with schools, academy trusts, local authorities, the Young People's Learning Agency and the Department for Communities and Local Government. However, the Statement does not yet clearly describe the specific responsibilities of each body, how these will interact, or how the Department will assess value for money across the entire education system. The Department relies on local authorities and the YPLA to exercise financial oversight over local authority maintained schools and academies respectively. However, oversight by some local authorities is currently weak and could worsen as many authorities reduce the resources they devote to overseeing their schools. There are also concerns about whether the YPLA will have the right skills, systems and capacity to oversee the rapidly increasing numbers of academies expected in coming years. More consistent requirements for data and data returns must be applied to all schools so that academic and financial performance can be benchmarked, and all schools can be held accountable. The Department needs to enforce these requirements more stringently, particularly given previous problems with lack of compliance
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215045195 Total Pages :44 pages Book Rating :4.0/5 (451 download)
Book Synopsis HM Revenue & Customs by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book HM Revenue & Customs written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-05-24 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: HMRC estimates that the tax gap - the difference between taxes due and the amount actually collected - stood at £35 billion (7.9% of tax due) in 2009-10, although other estimates suggest the figure is much greater. The Compliance and Enforcement Programme brought in £4.32 billion of tax revenue over the five years to 2010-11and is expected to generate a further £8.87 billion by 2014-15. However, in shedding more than 3,300 staff, the Department lost £1.1 billion in potential tax revenue: about £10 in tax lost for every £1 in running costs saved. The Committee is also not confident that the Department is sufficiently clear about the marginal rate of return it could achieve from different levels of spending. In order to live within funding limits, the Department had to defer the introduction of new systems or reduce their scope. In particular, by delaying implementation of its new Caseflow and Spectrum systems, the Department reduced the expected additional tax revenue of £743 million by 2010-11 to £547 million by 2014-15. In this Spending Review period £917 million has been allocated to further activities to tackle tax evasion and avoidance, and to collect more debt. This investment is more than double the money spent on the Programme over the last five years, and is expected to generate an additional £7 billion a year by 2014-15. It is therefore essential that the Department learns and applies lessons learnt. There was also alarm at reports that the Department had advised that the use of managed service companies to avoid tax could ever be appropriate for full-time employees of public bodies
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215041906 Total Pages :48 pages Book Rating :4.0/5 (419 download)
Book Synopsis Oversight of special education for young people aged 16-25 by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Oversight of special education for young people aged 16-25 written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-02-24 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost a third of young people with a Statement of special educational needs at the age of 16 are not in any form of education, employment or training two years later. The Government spent £640 million on special education for 16- to 25-year-olds in 2009-10, yet too many of these young people are falling through the gaps after they leave compulsory education, damaging their life chances and leaving a legacy of costs to the taxpayer. The system is extremely complex and difficult to navigate, with an array of different providers. Too many parents and young people are not given the information they need to make decisions about what is right for them. But three quarters of local authorities do not give parents any information at all about the respective performance of schools, FE colleges and specialist providers. The Department doesn't know how much money is actually spent on support. The huge variation between local authorities in funding per student suggests that a postcode lottery is at work. Students with higher-level needs are placed on the basis of statutory assessments of need; however, witnesses emphasised just how patchy the quality of these assessments can be. The opportunity for reform presented by the Department's recent Special Educational Needs Green Paper should be used to address our concerns It is right for local authorities to decide how to meet the needs of young people in their area - but local people must have access to clear information so that they can hold local authorities to account for how well they deliver
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215043818 Total Pages :36 pages Book Rating :4.0/5 (438 download)
Book Synopsis Cost reduction in central government by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Cost reduction in central government written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2012-04-27 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The National Audit Office report on this topic published as HC 1788, session 2010-12 (ISBN 9780102975376)
Author :Great Britain: Parliament: House of Commons: Committee of Public Accounts Publisher :The Stationery Office ISBN 13 :9780215561237 Total Pages :70 pages Book Rating :4.5/5 (612 download)
Book Synopsis Lessons from PFI and other projects by : Great Britain: Parliament: House of Commons: Committee of Public Accounts
Download or read book Lessons from PFI and other projects written by Great Britain: Parliament: House of Commons: Committee of Public Accounts and published by The Stationery Office. This book was released on 2011-09 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are legitimate concerns being expressed about the continuing financial cost of PFI for public organisations such as NHS Trusts. The Committee believes that some of the Government's case for using PFI has not been based on robust analysis, but on ill-founded comparisons and invalid assumptions. The costs and benefits identified in business cases need to be revisited after contracts are signed and periodically thereafter, to inform future procurement decisions. In particular, the Committee's view is that the Government should revisit the tax assumptions it builds into the cost and benefit case for PFI. Taxpayers could get a much better deal from PFI, and the taxpayer's position is also made worse by poor transparency of investor and contract information alongside patchy public sector commercial skills. The Treasury and departments should make full use of existing contractual rights of access and further investor information to increase transparency and find ways for taxpayers to get a share of the profits made by PFI contractors. At present, PFI deals look better value for the private sector than for the taxpayer. Private sector funds have built up portfolios of PFI projects from the large market that government has created, benefiting from potential economies of scale without any obligation to share such volume gains. Government, in contrast, has a fragmented approach and is not making use of its bulk buying power. The Treasury is seeking further efficiency savings, but achieving any savings on existing contracts will depend on voluntary agreements with investors and suppliers.
