Mr. RobertsonTo ask the Chancellor of the Exchequer what recent assessment he has made of the efficiency of the administration relating to bonds by National Savings; and if he will make a statement. [120218]
§ Miss Melanie Johnson[holding answer 2 May 2000]National Savings (NS) takes great care to ensure the systems it uses to deliver its products are efficient and effective. This is essential if NS are to continue to operate successfully in the increasingly competitive retail savings sector. Ministers set annual targets for NS to measure, report on and improve the efficiency of its product administration systems. To achieve these targets NS uses a framework of performance measures, standards and reporting procedures constantly to monitor the efficiency and effectiveness of its product administration systems, including those relating to bonds. This ensures they are subject to continuous improvement and that they remain competitive.