Public Sector Financial Discipline 'Strengthened'

The Government has published further details of a new Finance Transformation Programme which will make financial implications inherent to every decision taken in the public sector. The Economic Secretary to the Treasury, Justine Greening, set out the foundations for this programme at the Government Finance Profession’s annual training event, and these are published in Managing Taxpayers’ Money Wisely.

Following commitments in the Programme for Government and the Spending Review Framework, as well as consultation with stakeholders, Managing Taxpayers’ Money Wisely sets out four key areas of focus for the Finance Transformation Programme:

• Effective leadership, driving performance from the top
• Cost conscious culture so that every decision is built on informed financial assessment
• Professionalism so that all public servants demonstrate financial awareness
• Expert central functions – ensuring a coherent approach to financial management from the centre of government

The Treasury will oversee and reinforce these commitments, with updates on the Finance Transformation Programme – and its related activities – available on the HM Treasury website.

The initial focus of the programme will be on developing expert central functions and driving professionalism.

Justine Greening MP, said: "We've got to get a grip on the public finances, but to do that across the public sector we’ve got to drive through a real change in culture. That means becoming more financially disciplined, commercial, adaptable and innovative at all levels when it comes to spending taxpayers’ hard earned money.

"The Finance Transformation Programme will mark a step change in the way that resources are managed by public servants, and Managing Taxpayers’ Money Wisely sets out the framework for how we will make sure that happens."

(BMcN/KMcA)