§ Mr. Matthew BanksTo ask the Chancellor of the Exchequer whether he has reached a decision on the prior options in relation to the current three-year review of the Valuation Office as a next steps agency; and if he will make a statement.
§ Mr. NelsonTreasury Ministers have now considered the options for the future of the Valuation Office agency, taking into account views expressed in response to the public consultation. We have concluded that the Valuation Office should continue as a next steps agency in the public sector and within the Inland Revenue.
The next stage of the review, which it is hoped will be concluded by the end of April or very shortly thereafter, involves completing the evaluation of the agency's performance to date, reviewing the detailed framework within which the agency operates and considering the appropriate senior management structure for it.
The next stage will in particular examine the potential for involving the private sector to a greater extent in the agency's non-core work; develop proposals for securing future improvements in efficiency, effectiveness and quality in the tasks it undertakes; and consider whether trading fund status would be appropriate for the agency.
We expect to publish the results of the review in due course.