Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what her planned timetable is for establishing the Office of Value for Money.

The Office for Value for Money was established as part of the Chancellor’s speech on the 29^th July 2024 setting out our actions to tackle waste and inefficiency from our spending inheritance. As a new venture, the Office is still in the process of finalising its workplan and will imminently be appointing an independent Chair.

The Office has been set up with two primary roles. First, to provide targeted interventions, working with HM Treasury and other Government departments, so that value for money underpins every decision government makes. Second, to recommend reforms to the spending system, ensuring that our spending decision-making processes support the Government’s missions and deliver value for money. The Office has already begun working on projects to tackle these issues in advance of the Budget and Spending Review.