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  1. Carrier Strike: The 2012 reversion decision

    Report Value for money

    Published on:

    The MOD acted promptly to revert to the decision to buy the vertical take-off version of the Joint Strike Fighter but will have to manage significant risks.

  2. A short guide to structured cost reduction

    Overview Short guide

    Published on:

    This paper highlights key issues for public bodies to consider in facing the challenge of adopting a more structured approach to cost reduction.

  7. PaceSetter: HMRC’s programme to improve business operations

    Report Value for money

    Published on:

    PaceSetter has led to productivity improvements and may have contributed to greater staff engagement. However, the extent to which overall efficiency has improved is not clear; and some key principles of process improvement are not yet being applied strategically across the entire organisation.

  8. Procurement of the M25 private finance contract

    Report Value for money

    Published on:

    The Highways Agency’s PFI contract to widen the M25 could have been better value for money. The slowness with which it was taken forward resulted in higher financing costs, and the Agency was slow to investigate a potentially cheaper alternative to widening.

  9. The completion and sale of High Speed 1

    Report Value for money

    Published on:

    The HS1 project has delivered a high performing line, which was subsequently sold in a well-managed way. But international passenger numbers are falling far short of forecasts and the project costs exceed the value of journey time saving benefits.

  10. Financing PFI projects in the credit crisis and the Treasury’s response

    Report Value for money

    Published on:

    By setting up an Infrastructure Financing Unit, Treasury helped reactivate the lending market for private finance projects. While the costs for projects in 2009 represented value for money, Treasury should not presume that continuing the use of private finance at current rates will be value for money.

  11. Lessons from PFI and other projects

    Report Value for money

    Published on:

    Lessons from the large body of experience of using PFI can be applied to improve other forms of procurement. Government should also do more to act as an ‘intelligent customer’ in the procurement and management of projects.

  12. A framework for managing staff costs in a period of spending reduction

    Insight Good practice guides

    Published on:

    This paper sets out a framework for effective management of staff costs in a  challenging environment of cost reduction in public services. It builds on the high level principles set out in the NAO’s short guide to structured cost reduction.

  13. Performance of PFI Construction

    Report Value for money

    Published on:

    This report examines how PFI performs to contracted timetable and to price.

  14. Maintaining the financial stability of UK banks: Update on the support schemes

    Report Value for money

    Published on:

    The scale of the support currently provided to UK banks has fallen from a peak of £955 billion to £512 billion, but the amount of cash currently borrowed by the Government to support banks has risen by £7 billion since December 2009. It is likely the taxpayer will be providing support for years to come.

  16. Financial Management Maturity Model

    Insight Good practice guides

    Published on:

    Good financial management is at the core of good management in government. It supports decision making and the effective running of organisations.

  17. Venture capital support to small businesses

    Report Value for money

    Published on:

    Venture capital funds injected by government into young companies can provide benefit to them, allowing them to raise finance not available through conventional means and to grow. But so far the funds have not been managed as a programme and lack a robust framework of objectives to measure performance, according to a report published by […]

  18. Maintaining financial stability across the United Kingdom’s banking system

    Report Value for money

    Published on:

    The National Audit Office has concluded that the public support provided to UK banks by the Treasury was justified, given the scale of the economic and social costs if one or more major banks had collapsed. In providing that support, moreover, the Treasury met two of the government’s principal objectives: protecting depositors’ money in banks and […]

  19. PFI in housing

    Report Value for money

    Published on:

    The use of PFI by local authorities to improve housing, usually in areas with a high need for housing and where stock condition is particularly poor, has had a measure of success. However, risks to value for money of the programme have not been managed.

  20. Regulating Network Rail’s efficiency

    Report Value for money

    Published on:

    Limitations in Network Rail’s cost information has hampered the ability of the Office of Rail Regulation to assess efficiency savings.