This Fact Sheet highlights key figures in the Whole of Government Account, audit findings and recommendations. It may also be used by a range of users to obtain a quick overview of the accounts and the Comptroller and Auditor General’s audit opinion.
The 2011 DfID review of the £3.6bn spent through multilateral organisations (such as the UN) is a significant step towards achieving value for money.
This Fact Sheet highlights areas of good practice in preparing Whole of Government Accounts returns, including what should be provided to external auditors. It may also be used by audit committees as part of their governance arrangements over financial reporting.
The National Audit Office has today given an update on the financial support provided by the Treasury to the UK banking sector – how much support has been provided, how much is still outstanding and how much it is costing the taxpayer.
The Comptroller and Auditor General, has published his audit opinion on the 2011-12 accounts of the Department for Work and Pensions.
The Pensions Regulator and other agencies regulating defined contribution pension schemes should take a concerted approach towards collecting evidence and assessing risks to members.
HMRC’s progress in stabilising the PAYE service, its performance in managing tax debt; and its progress in tackling tax credit overpayment.
Diabetes care in the NHS is poor, with low achievement of treatment standards, high numbers of avoidable deaths and annual spending reaching an estimated £3.9 billion.
The Treasury’s 2009 decision to split Northern Rock in two was reasonable at the time but the final net cost to the taxpayer could be some £2 billion.
The £1.4 billion funding could result in 41,000 extra full-time equivalent private sector jobs but thousands more could have been created from the same resources.
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.
Departments have acted quickly to reduce staff numbers and this should bring significant savings. To sustain these savings, and deliver long-term value for money improvements, staff numbers must stay at these reduced levels and departments must develop new ways of working.
A major HMRC programme to improve the way it tackles evasion delivered £4.32 billion of additional tax yield, reduced staff numbers and improved compliance work. However the Department is not yet exploiting the full potential of its new systems.
HMRC’s renewed strategy for dealing with alcohol duty fraud is a significant improvement on the previous strategy. However, the Department needs a reliable estimate of the tax gaps for beer and wine; and to tackle successfully the illicit diversion of duty-unpaid alcohol back into the UK market.
The Olympic Delivery Authority remains on course to deliver its work on the Olympic Park successfully. But almost all of the Public Sector Funding Package is likely to be required, with little scope for unforeseen costs to emerge in the eight months left.
HM Revenue and Customs will have to make sure its staff have the right skills if the Department is to succeed in cutting its running costs by 25 per cent by 2014-2015 and bringing in each year an extra £7 billion of tax revenue.
Shortcomings must be addressed if value for money is to be secured in the future for users of social care “personal budgets” once they are extended to all eligible users by April 2013.
It will be difficult for government departments to achieve value for money from means-tested benefits unless government understands the impacts of means testing, learns from past experience and improves coordination between different benefits.
Our work provides commentary on and analysis of the major public spending issues facing the country today. It is relevant to practitioners, public servants, taxpayers and the users of public services. To do this well we need to recruit, retain and motivate the best people drawing from the widest possible talent pool. Our diversity strategy is central to this.
HMRC faces a significant challenge in securing a £1.6 billion reduction in running costs over the next four years, at the same time as increasing tax revenues, improving customer service and achieving reductions in welfare payments.