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Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215561619
Category : Political Science
Languages : en
Pages : 68
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Book Description
Around half of the Foreign and Commonwealth Office's budget is spent in foreign currencies. In 2008, the Treasury removed the protection it had previously provided to the Department against exchange rate fluctuations. The FCO did not have the expertise or experience to effectively manage the risk of a fall in exchange rates, and that the Treasury imposed poor value for money conditions on forward purchasing foreign currency. As a result of a decline in the value of sterling, in September 2009 the FCO faced an overspend of £91 million on its 2009-10 budget (£72 million centrally and £18.8 million overseas), out of its total budget of £1.6 billion. It made drastic cuts to reduce this overspend. The FCO did well to reduce spending so quickly, which enabled it to live within its budget. However, many of the spending cuts made were short term in nature, and involved simply delaying or stopping some activities, rather than making lasting efficiency improvements. Not enough was done to monitor and measure the impact of the cuts and there is a risk that such short term cuts can lead to increased spending in the future. The FCO needs to achieve sustainable reductions in running costs of £100 million over the next four years, and sees the overseas estate as a potential source of these efficiencies and income. But in the past, high charges have had the unintended consequence of discouraging other government departments from sharing premises.
Author: Great Britain: Parliament: House of Commons: Committee of Public Accounts
Publisher: The Stationery Office
ISBN: 9780215561619
Category : Political Science
Languages : en
Pages : 68
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Book Description
Around half of the Foreign and Commonwealth Office's budget is spent in foreign currencies. In 2008, the Treasury removed the protection it had previously provided to the Department against exchange rate fluctuations. The FCO did not have the expertise or experience to effectively manage the risk of a fall in exchange rates, and that the Treasury imposed poor value for money conditions on forward purchasing foreign currency. As a result of a decline in the value of sterling, in September 2009 the FCO faced an overspend of £91 million on its 2009-10 budget (£72 million centrally and £18.8 million overseas), out of its total budget of £1.6 billion. It made drastic cuts to reduce this overspend. The FCO did well to reduce spending so quickly, which enabled it to live within its budget. However, many of the spending cuts made were short term in nature, and involved simply delaying or stopping some activities, rather than making lasting efficiency improvements. Not enough was done to monitor and measure the impact of the cuts and there is a risk that such short term cuts can lead to increased spending in the future. The FCO needs to achieve sustainable reductions in running costs of £100 million over the next four years, and sees the overseas estate as a potential source of these efficiencies and income. But in the past, high charges have had the unintended consequence of discouraging other government departments from sharing premises.
Author: Great Britain. Treasury
Publisher: The Stationery Office
ISBN: 9780101794220
Category : Business & Economics
Languages : en
Pages : 116
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Book Description
In 2009-10, public expenditure rose to 48 per cent of GDP whilst income fell to 37 per cent, resulting in the largest deficit in Britain's peacetime history. This Spending Review sets out how the Coalition Government will carry out its deficit reduction plan. Particular focus has been given to reducing welfare costs and wasteful spending. This has enabled the Coalition Government to prioritise the NHS, schools, early years' provision and the capital investments designed to support long term economic growth. Departmental budgets other than health and overseas aid will be cut by an average of 19 per cent over four years. Key areas of Annually Managed Expenditure (AME) in addition to Departmental Expenditure Limits (DELs) for each government department and for the devolved administrations are covered. The Review sets out departmental spending plans for the four years until 2014-15 and further savings and reforms to welfare, environmental levies and public service pensions. The Review protects high value transport maintenance and investment, maintains the science budget, invests in apprenticeships and the low carbon economy and allows universities to increase fees from the 2012-13 academic year. Fundamental reforms will simplify the welfare system and make net savings of �7 billion a year. Social housing will be reformed and social care will receive an additional �2 billion by 2014-15. Public service reform underpins the Review: decentralisation of power; cutting burdens and regulations on front-line staff; improving transparency, efficiency and accountability of local services. Local government will have greater freedom but must work within reduced allocations. Public sector pensions will be reformed in line with Lord Hutton's recommendations. Central government administration costs will be cut by 34 per cent by 2014-15. Government departments will produce business plans later in 2010 detailing reform plans and priorities.
Author: Great Britain: Parliament: House of Commons: Foreign Affairs Committee
Publisher: The Stationery Office
ISBN: 9780215559227
Category : Business & Economics
Languages : en
Pages : 94
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Book Description
The Foreign Affairs Committee believes the BBC World Service is of such value to the nation that its income should be ring-fenced against spending cuts. The Service has suffered a disproportionate reduction in its future Grant-in-Aid under the spending review settlement, by comparison with that of the 'core FCO': allowing for inflation, 16% as against 10% across the four years 2010-11 to 2014-15. High-level discussions between the Government and the BBC about a transfer of funding responsibility started only nine days before the formal announcement of the change. The report says that the decision to reduce World Service spending by 16% during the 2010 spending review period should be reversed, and resources made available for it to continue its operations at roughly the 2010-11 level of staffing and output. If the Service's funding is reduced in spite of this recommendation, the committee urges for damage limitation with an unreduced BBC Hindi and BBC China Mandarin shortwave service, and enhanced resources to BBC Arabic as required by the recent and continuing political developments in the region. Some of the activity of the World Service contributes to the wider aims of the Department for International Development, and a transfer of just 0.35% of DFID's resource budget over the next three years would compensate for the proposed 16% reduction in World Service funding. There is no reason why such a transfer should not be made if the political will to carry it out is present.
Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102969641
Category : Political Science
Languages : en
Pages : 36
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Book Description
The spending cuts made by the Foreign and Commonwealth Office in 2009-10 were mainly in response to exchange rate pressures and provided an early experience of the challenges the Department will face in cutting its core expenditure by 10 per cent as a result of the 2010 Spending Review. These spending cuts were a short-term response to the immediate problem of a forecast budget shortfall of £72 million. They were designed to reduce in-year spending quickly, rather than achieving long-term efficiencies. In contrast, cuts to core expenditure as required by the spending review will demand a more strategic approach. There is evidence of the Department's seeking to protect its front-line activities and intending to make reductions in spending permanent. But it could not be sure that all the cuts were implemented as intended or had the least possible impact on its business. Most of the spending reduction resulted from doing less and the NAO also estimates that about 10 per cent of cuts were achieved through simple deferral: postponing activities such as non-essential maintenance to a later year. In addition, although the Department had assessed the risks of making spending cuts, it did not have measures in place to assess the impact of the cuts on the achievement of its objectives. In February 2010 the Department had started to develop contingency plans in case further cuts were required in 2010-11. However, it did not conduct a formal evaluation of its spending reduction activities in 2009-10 and missed a valuable opportunity to learn.
Author: Great Britain. Parliament. House of Commons. Foreign Affairs Committee
Publisher: The Stationery Office
ISBN: 0215081722
Category : Political Science
Languages : en
Pages : 44
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Book Description
The cuts imposed on the FCO since 2010 have been severe and have gone beyond just trimming fat: capacity now appears to be being damaged. If further cuts are imposed, the UK's diplomatic imprint and influence would probably reduce, and the Government would need to roll back some of its foreign policy objectives. The FCO's budget is a tiny element of Government expenditure, but the FCO makes disproportionate contribution to policy making at the highest level, including decisions on whether to commit to military action. The next Government needs to protect future FCO budgets under the next Spending Review.
Author: Great Britain: Parliament: House of Commons: Foreign Affairs Committee
Publisher: The Stationery Office
ISBN: 9780215559470
Category : Political Science
Languages : en
Pages : 234
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The Foreign Affairs Committee believes the Foreign and Commonwealth Office (FCO) will not be back at the centre of Government and able to lead UK foreign policy, in line with the Foreign Secretary's ambitions, unless it can provide deep foreign policy expertise and judgement to underpin and implement Government decision-making. The FCO must have the resources and skills required to fulfil this role, especially specialist geographical expertise and knowledge of foreign languages. The FCO has a vital role to play for the Government, namely the timely provision of world-class foreign policy information, analysis, judgement and execution. Finances, people and buildings must be well-managed, but managerial requirements must not divert time and focus disproportionately from the FCO's core foreign policy functions. Given the resource constraints facing the FCO, however, there is doubt whether the department can achieve the Government's ambitions for enhanced commercial work while maintaining its core foreign policy functions at the required standard. The committee regards the FCO's network of overseas posts as integral to the department's ability to discharge its functions, and recommends that the FCO should seek to maintain a global UK presence. The committee also called "confusing" the fact that under the current Government the FCO has three sets of priorities: the Foreign Secretary's, the Cabinet Office's Business Plan for the department, and the 2010 Strategic Defence and Security Review.
Author: Mr.Jack Diamond
Publisher: International Monetary Fund
ISBN: 9781557757876
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Traditionally, economics training in public finances has focused more on tax than public expenditure issues, and within expenditure, more on policy considerations than the more mundane matters of public expenditure management. For many years, the IMF's Public Expenditure Management Division has answered specific questions raised by fiscal economists on such missions. Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash planning. For each aspect of public expenditure management, the guidelines identify separately the differing practices in four groups of countries - the francophone systems, the Commonwealth systems, Latin America, and those in the transition economies. Edited by Barry H. Potter and Jack Diamond, this publication is intended for a general fiscal, or a general budget, advisor interested in the macroeconomic dimension of public expenditure management.
Author: Carl Copeland Parsons
Publisher:
ISBN:
Category : Office equipment and supplies
Languages : en
Pages : 50
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Book Description
Author: Great Britain: Parliament: House of Commons: Foreign Affairs Committee
Publisher: The Stationery Office
ISBN: 9780215556370
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
This report focusses on the FCO's financial situation and the implications of the Spending Review 2010 for its work and performance, and that of its associated body, the British Council. The FCO is one of the major departmental 'losers' in the Spending Review. Reductions in spending on the FCO, if they result in shortfalls in skilled personnel and technical support in key countries and regions, can have a serious effect in terms of the UK's relations with foreign countries, out of all proportion to the amounts of money involved, especially in relation to the UK's security and that of its Overseas Territories. Cuts to the core FCO budget of even 10% may have a damaging effect on the Department's ability to promote UK interests overseas. The FCO will also face cuts of 55% to its capital budget. The target of raising £50 million per year through selling existing buildings may be difficult to achieve, and may not secure savings in the long-term. A further reduction in the opportunities for more junior UK-based staff to serve in overseas posts, and a consequent diminishing of experience and morale among FCO employees, could over time have a damaging effect on the quality of British diplomacy and the effectiveness of the FCO. The British Council, facing a 25% cut in spending, should give detailed information on its strategy for implementing the cut, which may well trigger fundamental rethinking of the role and work of the Council.
Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102986198
Category : Business & Economics
Languages : en
Pages : 48
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Book Description
The 2012 Budget, announced the 'ambition' to double the value of exports by 2020 to £1 trillion a year. However current performance has been flat over the last two years and, to meet the Government's ambition, exports will have to grow by 10 per cent year on year. Many factors which affect export performance are outside the control of the FCO and UKTI, such as exchange rates and political and economic changes overseas. While the UK outperforms Germany, France and Italy in the Gulf, it has not traditionally performed as well in many other emerging markets, such as Russia, Brazil, Turkey and China. Success here is essential if the Government is to meet its target. There is a joint UKTI-FCO Board to oversee coordination of their work overseas but currently there is no further joint accountability for planning, monitoring and delivery against their goal. Their initial responses to the government's objectives have not been sufficiently coordinated. UKTI is now increasingly looking to measure actual business outcomes rather than volume of activity. Among the NAO's recommendations is that the FCO improve how it measures and monitors the impact of its activities supporting exports so that it can demonstrate that its spending of some £420 million a year yields tangible results. UKTI is piloting the use of external business partners to provide some of its services, and needs to implement lessons from the evaluation of its pilot initiative to use external partners if it decides to roll it out
