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This new edition incorporates revised guidance from H.M Treasury which is designed to promote efficient policy development and resource allocation across government through the use of a thorough, long-term and analytically robust approach to the appraisal and evaluation of public service projects before significant funds are committed. It is the first edition to have been aided by a consultation process in order to ensure the guidance is clearer and more closely tailored to suit the needs of users.
HM Treasury: Freedom and Choice in Pensions - Cm. 8835 by Great Britain: H.M. Treasury Pdf
This consultation form a key part of a wider set of reforms announced at Budget 2014. The government is keen to ensure that individuals who want to save are supported in doing so. The nature of retirement is changing as people are living longer and their needs more varied. In this Government's view the State should not be imposing restrictions on individuals who have made tough choices to save for the future. So from next year there will be no restrictions on people's ability to draw down from their defined contribution pension pots after age 55. The tax rules will be drastically simplified to give flexible access to pension savings. Consumers will therefore also need to be well informed to make their choices and the Government will introduce a new duty on pension providers and schemes to deliver a 'guidance guarantee' by April 2015. They will also make available a £20 million development fund to get the initiative up and running
Going behind the doors of the Treasury and Number 10, this book explores why successive British Prime Ministers from Callaghan to Blair have been hesitant towards European Economic and Monetary Union. It uses official documents and interviews with former ministers to understand discussions that took place at the heart of government.
A series of photographs taken by Mark Power between December 2000 and July 2002 at HM Treasury, Whitehall, London, documenting the refurbishment of the Treasury buildings.
The Asset Protection Scheme by Great Britain: National Audit Office Pdf
The Treasury's Asset Protection Scheme to protect over £280 billion of Royal Bank of Scotland's financial assets against losses has, so far, only been partially successful in encouraging lending to creditworthy borrowers on the scale originally envisaged. The Scheme, launched in early 2009, initially involved two banks. RBS eventually put £282 billion of assets into the Scheme, while Lloyds Banking Group paid £2.5 billion to exit the Scheme in November 2009 and instead raised additional capital from shareholders. The principal elements of the Scheme, particularly the first loss, were based on a robust assessment of incentives and on as complete information on the underlying assets as were available at the time. As part of the Scheme, Lloyds and RBS agreed lending targets. While both banks met targets for mortgage lending, there was a shortfall of £30 billion against targets for lending to business. Value for money in the longer term will depend heavily on incentives built into the Scheme to encourage good management of assets. Establishing a requirement for RBS to bear the first £60 billion of losses (a 'first loss') was crucial in providing the right incentive for the bank to manage its assets effectively. However, if the first loss is exceeded, RBS will have less financial incentive to avoid further losses although the bank considers it will still have a legal and moral obligation to manage the assets as best it can. The position of taxpayers would be particularly vulnerable if losses were to exceed about £73 billion
In this important and timely book, Flavio Romano identifies and clarifies the economic implications of Clinton and Blair's 'Third Way' approach to public governance in a book of great interest to students and practitioners of economics and politics.
Understanding social security (Second edition) by Millar, Jane Pdf
In an increasingly risky world the need for social security support is greater than ever. Benefits and tax credits aim to provide protection against economic risks, help families with the costs of bringing up children, enable people to save for retirement, and provide support in old age. Key goals are to redistribute income to alleviate poverty and help people maintain living standards across the lifecourse. Reform of the social security and tax systems has been at the heart of the UK Labour government's aspirations to modernise the welfare state since 1997 with major changes in both policy and administration. This second edition of the important text, Understanding Social Security, reviews these policy developments, giving readers the information and analytical tools to make sense of policy debates and reforms and to evaluate options for the future. The chapters have been extensively updated since the first edition, with new chapters on social security reform, inequalities and social security, and the new 'welfare market'. The main topics covered include: · the social security safety net · racism, ethnicity, migration · social security governance · global social security · social security and the life course · the challenge of childhood poverty · reforming pensions · welfare to work · sickness, incapacity and disability · tax credits · service delivery information technology The book provides a critical examination of social security policy and practice and is essential reading for students of social policy, social work and sociology, as well as policy-makers and practitioners in the fields of social security, welfare-to-work, employment, anti-poverty strategies and welfare rights. It will be of interest to those interested in recent policy developments in these areas, emerging issues and debates, and in wider issues of the modernisation of the welfare state.
OECD Economic Surveys: United Kingdom 2004 by OECD Pdf
OECD’s 2004 review of the UK economy finds that performance has been impressive in recent years. This edition also looks at product market competition and sustainable development in the UK.
The Rise of Managerial Bureaucracy by Lorenzo Castellani Pdf
The book provides detailed analysis of the structure and operation of the British Civil Service along with a historically grounded account of its development in the period from Margaret Thatcher to the Tony Blair premiership. It assesses continuity and change in the civil service during a period of deep transformation using new archive files, government and parliament reports, primary and secondary legislation. The author takes the evolutionary change of the civil service as a central theme and examines the friction between new managerial practices introduced by government in the 80s and 90s and the administrative traditions rooted in the history of this institution. In particular the author assesses the impact of the New Public Management agenda of the Thatcher and Major years its enhanced continuity during the Blair years. Further changes that involved ministerial responsibility, codification, performance management, special advisers and constitutional conventions are analyzed in the conclusions.
The Way the Money Goes by Christopher Hood,Maia King,Iain McLean,Barbara Maria Piotrowska Pdf
The Way the Money Goes traces out what happened to the UK's fiscal constitution - the framework for planning and controlling public spending - under three different governments (Conservative, Labour, Conservative/Liberal Democrat) from the early 1990s to the mid-2010s. The book tells the story of what happened under each government and combines narrative with vignettes that range from the funding of a new Treasury building to efforts to 'crowdsource' ideas for spending cuts. It also includes chapters devoted to different domains of spending control, namely capital spending, spending by subnational governments, running cost expenditure, fiscal forecasting, and the development of new accounting metrics. This book is based on over 120 in-depth interviews of civil servants and ministers who were involved in public spending over the period, as well as documents from the same timeframe. It explores how and why, despite much talk of change and reform in everything from parliamentary procedure to bureaucratic processes, many of the underlying features of the UK's fiscal constitution persisted, including arrangements for formula-funding of the different countries within the union designed as a temporary stopgap in the transition to devolution. To put UK developments into perspective, the book includes a discussion of how the UK system was rated in reports from international bodies over the period, which suggests that in such exercises the more 'political' parts of the fiscal constitution were rated differently from the more 'technocratic' parts. Given several volcanic-type political eruptions in the UK over recent years, the book concludes by exploring some different possible scenarios for the future of its fiscal constitution in the light of those and other possible eruptions to come.
Progress in improving financial management in Government by Great Britain: National Audit Office Pdf
Despite good progress in improving the professional capability and capacity of government finance departments since the National Audit Office last reported in 2008, good financial management is still not embedded in the civil service culture, and financial matters do not have sufficient influence over departments' strategic decision making. The NAO concludes that departments have achieved a core level of competence in financial management, but further improvement in financial management capacity and capability throughout their organisations is required to enable them to meet the challenge of delivering the savings set out in the Spending Review 2010. There has been important progress - all departments now have a professionally qualified Finance Director, supported by an increased number of qualified finance staff. The Treasury is also implementing accounting changes to bring greater transparency to government financial reporting. Whitehall's central finance functions competently capture and report the transactions and financial position of the departments. Annual accounts are delivered before the July Parliamentary recess. The number of overall overspends against the amounts approved by Parliament is low. However, departments are generally weak at monitoring their balance sheets and at forecasting cash flow in the medium term. Departments do not fully understand the costs of their activities, and it is rare for them to have good information on the unit costs of outputs, levels of productivity or the value of outcomes. Departments generally focus on monitoring against the agreed one-year budget, with a few looking as far ahead as the current spending review period of four years.
