Source · Select Committees · Public Accounts Committee
44th Report - Governance and decision-making on major projects
Public Accounts Committee
HC 642
Published 10 September 2025
Conclusions (4)
7
Conclusion
Deferred
We asked the Treasury about when major and mega projects are given the approval to proceed and who makes these announcements. The role the Treasury plays in decisions about whether and how to proceed with a mega- project, its purpose and how to fund it is particularly important. At the …
Government Response Summary
The government refers to the OVFM study published in June 2025, setting out a new bespoke approach to funding and governance for mega projects, and states the Treasury will provide an update on its effectiveness.
8
Conclusion
Deferred
The Treasury told us that, following from the OVFM’s report, for mega- projects it proposes to fund a feasibility stage which will be necessarily long enough to clarify objectives and go through the various business case processes, before setting out publicly what the project intends to do. It explained this …
Government Response Summary
The government refers to the OVFM study published in June 2025, setting out a new bespoke approach to funding and governance for mega projects, and states the Treasury will provide an update on its effectiveness.
10
Conclusion
Deferred
We asked how government will prevent projects being announced too early, noting that politicians are a factor. The OVFM told us that this feasibility stage will try to address this by setting out how governance is going to work, with publication of the strategy and delivery plan for a mega-project …
Government Response Summary
The Treasury will write to the Committee with an update on the effectiveness of the new bespoke approach to funding and governance as set out in the Office for Value for Money (OVFM) study.
11
Conclusion
Deferred
We asked the Treasury to outline what its new supervisory role is going to be for mega-projects. The Treasury explained that it will have a greater role in the governance of mega-projects by requesting a seat at the board and, in its role as financial shareholder, will have far greater …
Government Response Summary
The Treasury will write to the Committee with an update on the effectiveness of the new bespoke approach to funding and governance as set out in the Office for Value for Money (OVFM) study.