FCO Services Debate
Full Debate: Read Full DebateDepartment: Foreign, Commonwealth & Development Office
James Duddridge
Main Page: James Duddridge (Conservative - Rochford and Southend East)Department Debates - View all James Duddridge's debates with the Foreign, Commonwealth & Development Office
(8 years, 10 months ago)
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The Parliamentary Under-Secretary of State for Foreign and Commonwealth Affairs (James Duddridge)
FCO Services operates as a trading fund of the FCO. I have set the following performance targets for 2015-2016:
1. An in-year surplus before interest, tax and dividend producing a net margin of between 1% and 5%;
2. A return on capital employed of at least 3.5% (weighted average);
3. Cost of corporate functions as a percentage of revenue of no more than 6%;
4. A utilisation rate for revenue-earning staff of at least 75%;
5. A customer satisfaction result of at least 80%;
6. Employee engagement in FCO Services using civil service survey of at least 59% FCO Services will report to Parliament on its success against these targets through its annual report for 2015-16.
[HCWS199]