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National Audit Office report: Confirmed impacts: Helping to improve strategic management of debt owed to government

Confirmed impacts: Helping to improve strategic management of debt owed to government

This impacts case study shows how Cabinet Office and HM Treasury have actioned our recommendations through updated guidance and strategies, establishing consistent cross-government monitoring measures and creating the company 'Debt Market Integrator' to provide debt management services. It is one example of financial or non-financial benefits realised in 2014 as a result of our involvement, all of which are set out in our interactive PDF.

Impacts case study

Our report on debt management in government made recommendations for HM Treasury and Cabinet Office to work together to improve strategic management of debt owed to government. Our work has been cited as a key part of the case for making the government’s approach to managing debt more integrated.

What are impacts?

The Cabinet Office and HM Treasury have updated the formal Consolidated Budgeting Guidance, which will strengthen financial reporting of debt management in government.  The new Cabinet Office and HM Treasury Joint Working Group has overseen the development of departmental debt strategies, and used the NAO’s suggested performance measures to establish a consistent government-wide approach to monitoring debt performance for the first time, which will fundamentally strengthen the evidence base to inform decision-making.  In terms of delivery, the ‘Debt Market Integrator’ is designed to improve government’s performance in managing debt, with the first services expecting to be delivered from July 2015 (at the time of writing).

 

Publication details:

Published date: October 15, 2015