HC Deb 25 February 2002 vol 380 cc1038-9W
Mr. Chope

To ask the Chancellor of the Exchequer if a cost benefit analysis of changing the name of the Office of National Savings was carried out; and if he will make a statement. [36800]

Ruth Kelly

The name change is just one part of the transformation process undertaken by National Savings and Investments to modernise its operation, improve efficiency and upgrade services to customers.

It followed a strategic marketing review which showed that the agency's main role of raising funds for the Government cost effectively could only be sustained if it:

  • designed a new brand positioning and relaunched
  • introduced new products
  • introduced new channels of distribution
  • improved direct mail capability
  • developed the relationship with the Post Office.
The most important key success factor was demonstrated to be the relaunch of the brand.