HL Deb 28 January 1993 vol 541 cc101-2WA
Lord Kennet

asked Her Majesty's Government:

What is their meaning of the phrase "value for money", as used for example in the Answer given by Mr. David Curry on genetic resources (H.C.Deb., 23rd November 1992, col. 527), and how is this calculated.

Earl Howe

The phrase "value for money" reflects considerations of economy, efficiency and effectiveness. The report of the Government's review of the ex-situ conservation of plant genetic resources recognised that the various gene banks and living collections serve a variety of purposes and that there are economic, ethical and environmental arguments for continued public funding. In this context, value for money concerns the effectiveness of collections in meeting policy objectives efficiently and economically.