Recommendations & Conclusions
6 items
22
Recommendation
Twentieth Report - Monitoring and respo…
Deferred
The Treasury told us that having the right skills and capabilities in place is “a really critical lesson” highlighted by the NAO’s report. It acknowledged that these skills are currently “patchy across government”.61 The relevant specialist skills for responding to company distress situations are concentrated mainly at the centre of …
Government response. The government agrees with the recommendation to address patchy skills across government, setting an April 2025 target. It outlines existing guidance and training but commits to the Cabinet Office Commercial Function working with relevant bodies to look at developing a …
HM Treasury
23
Recommendation
Twentieth Report - Monitoring and respo…
Deferred
Nonetheless, the Treasury reiterated that it is up to departments and regulators to ensure they have the capability and capacity to discharge their duties, including understanding what financial expertise they need.66 The Department for Business and Trade explained how the kinds of skills it requires, including commercial, financial and accounting …
Government response. The government agrees with the recommendation regarding skills and capabilities across government, setting an April 2025 target. It refers to existing guidance and risk management frameworks, and commits to the Cabinet Office Commercial Function working with other bodies to look …
HM Treasury
24
Recommendation
Twentieth Report - Monitoring and respo…
Deferred
Evaluation is a systematic assessment of the design, implementation, and outcomes of an intervention.69 It is important for learning what works and why, and to demonstrate accountability for the use of public money.70 Our work on the use of evaluation in government found that much of government activity is not …
Government response. The government agrees with the recommendation on the importance of evaluation and sets a target date of July 2024. It acknowledges that evaluation of company cases has not been formalized and will work with Cabinet Office and UKGI to consider …
HM Treasury
25
Recommendation
Twentieth Report - Monitoring and respo…
Deferred
We asked the witnesses about how robustly government collates and shares evaluation findings and lessons on this topic. The Treasury suggested that this was something they “can probably be a bit more systematic on”. It provided the example of the covid support business grant schemes as a “systemic evaluation that …
Government response. The government agrees with the recommendation to systematically evaluate interventions and non-interventions, setting a target date of July 2024. It commits to working with Cabinet Office and UKGI to consider future changes, potentially including placing conditions on departments to report …
HM Treasury
26
Conclusion
Twentieth Report - Monitoring and respo…
Deferred
We asked the witnesses whether there had been any learning from the experiences of airline collapses about industry insurance schemes and also how government manages the risks around recuperating money from private insurers. UKGI suggested that there was some work undertaken to identify where there might be similar risks but …
Government response. The government agrees with the recommendation and aims for a July 2024 implementation, acknowledging that evaluation of company cases has not been formalized. It states HM Treasury will work with Cabinet Office and UKGI to consider future changes to internal …
HM Treasury
27
Recommendation
Twentieth Report - Monitoring and respo…
Deferred
We also asked the witnesses whether they looked to different international regimes to learn any lessons about how to deal with companies and sectors that might be in trouble. The Treasury and the Cabinet Office said that each country is unique and will have its own way of handling insolvency …
Government response. The government agrees with the recommendation and aims for a July 2024 implementation, but focuses its response on improving and formalizing the internal evaluation of company distress cases. HM Treasury will work with the Cabinet Office and UKGI to consider …
HM Treasury