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 Departmental Overview is one of 17 we have produced covering our work on each major government department. It summarises our work on the HM Revenue & Customs 2013-14
The NAO publishes a briefing paper considering capital investment by government and how it chooses to finance it.
The update looks at how the centre of government’s role has evolved in response to austerity, examines recent developments such as how the leadership of functions and professions has been brought together under the new Chief Executive of the Civil Service.
HMRC has made good progress towards maximising revenue and making cost savings but also needs to do much more to improve its customer service.
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.
This Departmental Overview is one of 17 we are producing covering our work on each major government department. It summarises our work on the HM Treasury during 2013-14.
The NAO has today published an investigation of two grants awarded by the Big Lottery Fund and one awarded by the Cabinet Office to three related organisations.
The National Audit Office has today reported on HM Treasury’s 2013-14 Annual Report and Accounts. The report provides an overview of the context in which the Comptroller and Auditor General has carried out his audit of the Treasury’s 2013-14 financial statements; and details of his assessment of audit risk arising from the Treasury’s major financial stability and wider economic support schemes.
Government has given less attention to grants than to other policy funding mechanisms, despite grant funding being higher in value, making up 41 per cent (£292 billion) of its total expenditure.
