Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate she has made of the annual budget for the proposed Office for Value for Money; whether that body will be established in statute; and how its Board will be appointed.

As the Chancellor laid before the House in her speech, the government has established a new Office of Value for Money, with an immediate focus on identifying areas where we can reduce, stop, or improve the value of spending. The chair of the office will report directly to the Chancellor and Chief Secretary to the Treasury who will be appointed in due course.

The office will not be established in statute but will sit within HM Treasury.

Existing departmental resources will be reprioritised to fulfil the needs of the office where possible.