The price of everything
Think tank: Reform
Author(s): Joe Hill
November 18, 2024
This report from UK think tank Reform sets out a plan for the new Office for Value for Money.
The Chancellor of the Exchequer has announced a new Office for Value for Money, which she said at the Autumn Budget would “help us realise the benefits from every pound of public spending”.
With five ambitious Missions to get Britain back on track, public debt at nearly 100 per cent of GDP and the highest tax burden in decades, it is essential that the public spending framework is reformed to cut waste and improve efficiency. Every pound of public spending must be used as wisely as possible.
A new Office in the Treasury can’t tackle every area of waste, and improving value for money requires drive and determination across Government. But it can focus on those areas of waste which are driven by cross-cutting policy and operational challenges, where no one Department or Accounting Officer holds all the levers to fix improve outcomes.
The price of everything sets out a plan with concrete areas which the new Office for Value for Money could drive reform on between now and the Spending Review in 2025.
