Question to the HM Treasury:

To ask Her Majesty's Government whether, in seeking to develop new standards and approaches for measuring and reporting the value of knowledge assets in the public sector, they have taken account of the recent work of the Organisation for Economic Co-operation and Development's Working Parties on National Accounts and on International Trade in Goods and Services Statistics.

The Knowledge Assets team, based in HM Treasury but supported by a range of departments, is working with strategic partners to develop an implementation strategy which is aligned with related policy and institutions across the public sector. This includes colleagues in the Office for Life Sciences, which has announced plans to establish a National Centre of Expertise within NHSX that will provide specialist commercial and legal advice to NHS organisations entering data agreements.

The implementation strategy remains in development and it is the intention to publish it later this year. It will respond to each of the ten recommendations made in the 2018 Budget report ‘Getting smart about intellectual property and other intangibles in the public sector’, including questions of future departmental responsibilities and reporting.