National Security: Finance
The question
To ask the Secretary of State for Business and Trade, what steps he is taking to ensure that funds directed to UK‑based suppliers under the national security initiative are (a) monitored and (b) reported.
Answered by Mr Douglas Alexander
Managing Public Money sets out expectations for all public services, including money spent procuring any goods and services. The standards are honesty, impartiality, openness, accountability, accuracy, fairness, integrity, transparency, objectivity, and reliability. All should be carried out in the spirit of, as well as to the letter of the law, in the public interest, to high ethical standards and achieving value for money.
It also sets out that there shall be adequate reporting arrangements to provide assurance to the board, the Accounting Officer and ultimately ministers about what is being achieved, to what standards and with what effect. Monitoring and evaluation are part of the development and planning of any intervention from the start. They are important to ensure successful implementation and the responsible, transparent management of public resources.
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