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110 September
Spending public money wiselyMax Tse, Director at National Audit Office
2
OBR spending projections
Fore
cast
20
25
30
35
40
45
50
55
60
65
1920-21 1930-31 1940-41 1950-51 1960-61 1970-71 1980-81 1990-91 2000-01 2010-11 2020-21
Per c
ent o
f GDP
Current receipts
Total managed expenditure
Source: Bank of England,ONS, OBR
Total public sector spending and receipts
3
Recent changes
4
Conflicting priorities Ignoring inconvenient facts
Out of sight, out of mind Not learning from mistakes
Four pervasive issues
4 pervasive issues
5
Conflicting priorities Ignoring inconvenient facts
Out of sight, out of mind Not learning from mistakes
Four pervasive issues
4 pervasive issues
6
Handling conflicting priorities
Department for International Development – Financial Management (2011)
“The Department has improved its core financial management and has an ambitious programme underway to improve its focus on value for money.”
Strategic flood risk management – Environment Agency (2014)
“In the face of increasing flood risk in England and pressure on defences, the Environment Agency has improved the cost effectiveness and prioritization of its flood risk spending.”
7
Conflicting priorities Ignoring inconvenient facts
Out of sight, out of mind Not learning from mistakes
Four pervasive issues
4 pervasive issues
8
Not ignoring inconvenient facts
Transparent about the limitations of assumptions
Identify and monitor critical assumptions
Work through the consequences of variation
Tackle barriers and complications
9
Conflicting priorities Ignoring inconvenient facts
Out of sight, out of mind Not learning from mistakes
Four pervasive issues
4 pervasive issues
10
Sustainability
11
Conflicting priorities Ignoring inconvenient facts
Out of sight, out of mind Not learning from mistakes
Four pervasive issues
4 pervasive issues
12
Lessons from recent welfare reforms
13
Thank you
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Please contact Max Tse with any further questionsmax.tse@nao.gsi.gov.uk
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