Business support schemes

[The] Department should ensure that from March 2020, any new business support scheme: a) has clear objectives in place from the outset that are measurable and timebound, enabling a scheme’s progress to be assessed;

Ref Page 14, paragraph 21, point a · Implemented Q4 2020-21

b) considers alternative ways of achieving its objectives, including a meaningful estimate of the value for money of viable alternatives;

Ref Page 14, paragraph 21, point b · Implemented Q4 2020-21

c) has a monitoring plan that shows how interim measures link to the scheme’s ultimate objectives if these are not immediately measurable; and

Ref Page 14, paragraph 21, point c · Implemented Q4 2020-21

d) sets out plans for evaluation, including how it will ensure such assessment is supported by robust evidence of the impact against the criteria in its updated evaluation framework.

Ref Page 14, paragraph 21, point d · Implemented Q4 2020-21

In its management of its overall portfolio of business support schemes, the Department should: e) coordinate a review of its schemes to determine their strategic fit with the Industrial Strategy and what consequent changes are required by July 2020;

Ref Page 14, paragraph 22, point e · Implemented Q4 2021-22

f) develop some standard metrics across schemes that have broadly similar aims, to enable better comparison of their effectiveness by May 2020. This should include routine monitoring of businesses’ views; and

Ref Page 14, paragraph 22, point f · Implemented Q4 2023-24

g) monitor schemes' compliance with the good-practice principles of scheme management that we have set out in this report and use this to drive improvements.

Ref Page 14, paragraph 22, point g · Implemented Q4 2024-25