§ 60. Mr. Tim SmithTo ask the Chancellor of the Exchequer what estimate he has made of the contribution that the financial management initiative has made to securing value for money in public expenditure.
§ Mr. BrookeThe financial management initiative is seeking to improve the basis on which resources are managed by Departments. I regret that it is not possible to quantify the contribution that it is making to improving 51W value for money, nor to distinguish that contribution from the effect of other actions to increase the efficiency with which resources are used. There is however general agreement that the FMI has made a significant impact by clarifying responsibilities, securing a greater awareness of costs and by providing a framework for other reforms.
The "Next Steps" initiative, which the Prime Minister announced on 18 February 1988 at column 1149, builds on and carries forward the principles of the FMI in relation to executive functions. The Government remain committed to maintaining the momentum of their overall programme for improving value for money.