The sale of Eurostar generated proceeds of £757m. The government prepared well for the sale and achieved its objectives to maximise proceeds. The sale illustrates some general lessons for government as it embarks on its asset sales programme.
Kids Company, a children’s charity, received at least £46m of public funding. Officials raised concerns about the charity’s cash flow and financial sustainability at least 6 times between 2002 and 2015 but the charity never reached a position where it was able to operate without government assistance.
This impacts case study shows how our review of the government’s sale of shares in Royal Mail led to the appointment of an expert panel that made recommendations about the whole system of Initial Public Offerings.
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.
This impacts case study shows how our work has led to reform of contract management across government, including improved accountability and governance, information management and performance management.
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.
Since privatisation, Ofwat and Defra have overseen major improvements in water quality and service quality. Customers have seen a marked rise in bills but not the benefits of companies’ unexpected financial gains.
The government is selling assets on an unprecedented scale but, given the equally large scale of its new loans and other initiatives, the overall projected net effect is a £200m increase in borrowing.
The government continues to lose large amounts of money through fraud and error overpayments and many vulnerable people get less support than they are entitled to.
Amyas Morse, the Comptroller and Auditor General, has today issued a report on the 2014-15 accounts of HM Revenue & Customs.
Wave 1 City Deals encouraged cities to develop capacity to manage devolved funding and increased responsibility. It is too early to tell what impact they will have on growth.
Payment by results (PbR) schemes are hard to get right, and are risky and costly for commissioners. Credible evidence for claimed benefits of PbR is now needed.
The first phase of the Care Act has been implemented well, but this places new responsibilities on local authorities whose core funding is being significantly reduced.
The Department for Communities and Local Government has taken steps since November 2014 to improve its understanding of new burdens on local authorities.
HM Treasury is improving the content of the Whole of Government Accounts, which shows the overall financial position of the UK public sector, and the document has been produced faster than ever.
This report examines the arrangements for disabled students at Plymouth University whose support requirements were assessed by an assessment centre based on the University’s main campus.
Under the Scheme, the Treasury guarantees that lenders to infrastructure projects will be repaid in full and on time, irrespective of project performance. The NAO is calling for the Treasury to be rigorous and objective in assessing whether the guarantees, which transfer risk to the public sector, are genuinely needed.
There is little evidence that government’s commitment to pay 80% of undisputed invoices within 5 working days is having the intended effect of helping the UK’s 5 million small and medium-sized enterprises.
The NAO strategy 2015-16 to 2017-18 sets out how our public audit perspective will help Parliament hold government to account and improve public services.
The Department for Education is not meeting its objectives to improve the quality of care and the stability of placements for children in care.
The DWP has reset Universal Credit on a sounder basis but at significant cost, by extending the time for implementation and choosing a more expensive approach.
The MoJ is on track to make significant and quick reductions in its spending on civil legal aid. But it is less clear to what extent it has met its objective of targeting legal aid at those who need it most.