Source · Select Committees · Treasury Committee
Recommendation 51
51
Accepted
Paragraph: 231
Waiting until the operational transformation of Companies House is complete risks further delay beyond 2025...
Recommendation
Waiting until the operational transformation of Companies House is complete risks further delay beyond 2025 if, as with many public sector change and IT projects, 78 Economic Crime unexpected difficulties slow project delivery. Given the urgency of the problem, the Government should seek ways to implement as many reforms as possible sooner, before embedding a full transformation.
Government response summary AI-generated
The government has allocated £63 million over the Spending Review period to BEIS to facilitate Companies House reforms and ensure that the Economic Crime (Transparency and Enforcement) Act can be operationalised quickly.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
231
Government Response
Accepted
HM Government · verbatim extract
Accepted
The government recognises the importance of delivering Companies House reform. HM Treasury has therefore provided BEIS with £63 million over the Spending Review period to facilitate reforms. This funding will ensure that the Economic Crime (Transparency and Enforcement) Act, and the legislation being introduced in the Third Session, can be operationalised as quickly as possible.
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