Recommendation 18

HM Treasury acknowledged that the process of undertaking impact assessments for some major COVID-19 schemes had been challenging and hampered by poor data and evidence.28 It used the example of the excess stockpiles of PPE to illustrate that big lessons need to be learned.29 This fits with a trend the Committee has previously picked up on, that less reliance is being placed on impact assessments, and their quality appears to be waning, despite being integral to understanding whether policies will deliver value for money. HM Treasury has also concluded that there needs to be clearer guidance around accounting officer assessments and on how to apply the principles and the tests in Managing public money. It is planning on identifying and sharing examples of good accounting officer assessments. It plans to update the guidance on how to undertake accounting officer assessments in an emergency, and when policy and delivery are undertaken across multiple departments, for example testing in schools, where the accounting officers of the Department for Health and Social Care and the Department for Education worked together. HM Treasury told us that it is also planning more training across finance functions on how to apply Managing public money, including for ministers.30 23 Q 18 24 Q 21 25 Q 40 26 Q 43 27 Q 44 28 Q 53 29 Q 54 30 Qq 40–42 COVID 19: Cost Tracker Update 13 Government-backed loans