§ Mr. HealdTo ask the President of the Board of Trade if he will make a statement about the review of options for the future of DTI's Accounts Services Agency.
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§ Mr. EggarThe Department has received a proposal for a management led employee buy out from members of the agency's management. I very much welcome this initiative.
In view of this proposal and of the very good progress the Accounts Services Agency has made in developing a more commercial approach since it became an agency in October 1991, I have decided to commission a review to consider the options for the future of the agency.
PA Consulting Group has been appointed to assess the commercial position and prospects of the agency; to assess the current and potential developments in the markets in financial and management accounts services, and the opportunities and threats these may present to the agency; and to consider alternative possible forms of ownership and management. The consultants will assess the advantages and disadvantages to the Department, the agency, its customers and staff of all options.
In assessing the options the consultants will need to take account of the requirement to ensure that the Department continues to receive essential accounting services. The Department is reviewing its requirements for these services, and the scope for them to be met from the private sector, in parallel with the review by consultants.
In undertaking their review the consultants will take account of the proposal for a management-led employee buy-out.