HC Deb 30 November 1993 vol 233 c933

I have one other announcement to make to improve the way in which the taxpayer's money and public sector capital is used and accounted for.

In my opinion, Government accounting for public spending has become archaic. In my view, the time has come to move to a system of accounting which identifies more clearly the cost of resources. This will put Departments on to a similar accounting basis not only to commercial organisations but to many other parts of the public sector. I shall be publishing a paper in the first half of next year on the introduction of accruals-based resource accounting by Departments, and its implications for the way expenditure is planned and controlled, and money is sought from Parliament.