Select committee: Public Accounts Committee
Conclusion 14
67th Report - NS&I’s transformation programme
Published 13 Feb 2026
Addressed to HM Treasury
Public Accounts Committee NS&I’s transformation programme All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The Government Internal Audit Agency’s review of NS&I’s culture in December 2024, found that staff felt decision-making was slow and hierarchical, decision-making processes were not understood, and there was a lack of transparency within Programme processes.36 NS&I introduced a leadership development programme as a response to the review, and NS&I said that from this it had found that where issues were raised, “there was not always recognition that those leaders in the room were going to address those issues and drive it forward”. NS&I noted that moving to a multi-supplier model takes a shift in mindset and accountability, and that strategic workforce planning and management is a key part of how it continues to develop that capacity to get the change.37 31 Q 4 32 Q 45; C&AG’s Report, para 3.5 33 Qq 50-51, 60-61 34 Qq 47-48 35 Q 46 36 C&AG’s Report, para 3.5 37 Q 49; C&AG’s Report 11 2 Conditions for success Improving understanding and management of risk
From: Public Accounts Committee, 67th Report - NS&I’s transformation programme (HC 1237), 13 February 2026
Government response
The government responded to the whole report on 7 April 2026 (deadline 13 April 2026).
Summary written by Accountability Index from the government's response. It is not the government's own words.The government states that it "agrees with the Committee's recommendation" on each of the recommendations in the report, and sets target implementation dates between June and Autumn 2026.
- On the integrated plan, the government agrees that NS&I should prepare a realistic plan. NS&I is developing costed options, which will form the basis of a revised Full Business Case in the second quarter of 2026-27, "subject to Treasury and Ministerial process timings".
- NS&I will write to the Committee "within six months" setting out the integrated plan, including timelines and a revised estimated cost, and will provide a written update on its risk management framework "by June 2026".
- On culture, a business-wide programme of cultural change activity will be developed, with an initial plan to go to the Board and the Treasury in early Summer 2026 for "rolling implementation over the coming 12-18 months".
- The Treasury says it will evaluate NS&I's agreed plan through a full Treasury Approval Panel process and will write to the Committee in the Autumn on lessons learned from its oversight.