Recommendation 6

The evidence we have heard since the publication of our interim report strengthens our view that the NIO should publish specific, measurable, achievable, relevant and time-bound (SMART) objectives, where appropriate, or other key performance indicators for its economic interventions. The NIO should set out how it will monitor and measure the effectiveness of its interventions, setting appropriate targets for their output. This is vital for ensuring that significant public funding commitments provide value for money for the taxpayer. (Recommendation, Paragraph 44)