Wednesday, 14th July 2010 | by Ray Martin
Responsibility for The Office of Government Commerce (OGC) and the public sector procurement agency, Buying Solutions, will move to the Cabinet Office where they will form part of the Efficiency and Reform Group (ERG).
Francis Maude, Minister for the Cabinet Office, said the move will bring together in one place all the cross-government operational functions, including procurement, project management, IT and Civil Service workforce and reform functions.
The Efficiency and Reform Group will have a strong mandate at the centre of government to ensure departments work together to quickly tackle waste and improve accountability across all these areas. The Group’s work is overseen by an Efficiency Board, co-chaired by the Minister for the Cabinet Office and the Chief Secretary to the Treasury.
In a further boost for the work of the Efficiency and Reform Group, Francis Maude has announced that three senior business leaders, who have all worked in Whitehall, will bring their years of experience to the Efficiency Board. They are:
- Sir Peter Gershon, Chairman of Tate & Lyle, former government efficiency adviser and first chief executive of the OGC;
- Lucy Neville-Rolfe, Executive Director, Tesco PLC; formerly a senior career civil servant; and
- Dr Martin Read, Non-Executive Director of Invensys, Aegis and Lloyd’s of London.
Read the rest of this article »
Tuesday, 22nd June 2010 | by Ray Martin
|
|
| Today the Chancellor of the Exchequer has set out his Budget. |
 |
|
| The measures announced will reduce the deficit, introduce a fairer tax system, and encourage an enterprise and growth agenda in the UK. These steps are based on the Government’s key values of responsibility, freedom and fairness. These measures include:
· To help areas and communities particularly affected by reductions in public spending make the transition to private sector-led growth and prosperity, the Government will create a Regional Growth Fund in 2011-12 and 2012-13. This fund will operate in England only and support proposals from private and public-private bodies that create sustainable increases in business employment and growth.
· Confirmation of temporary increase in the level of small business rate relief (SBRR). Eligible businesses occupying properties with rateable values up to £6,000 will pay no business rates for one year from 1 October 2010. Businesses with rateable values up to £12,000 will receive significant reductions. 58 per cent of properties in the South East have a rateable value of up to £12,000, and will benefit from this measure if occupied by an eligible business.
· The impact of the employer NICs rate rise previously announced will be largely reversed by increasing the threshold for employer NICs by £21 a week above indexation. This will lead to a saving of around £440 million in the South East.
Read the rest of this article » |
Tuesday, 8th June 2010 | by Ray Martin
The Chancellor of the Exchequer George Osborne and Chief Secretary to the Treasury Danny Alexander today announced details of how the next Spending Review (SR) will be conducted. The SR, due to conclude in the Autumn, will set spending limits for every Government department for the period 2011-12 to 2014-15.
The timetable for the review, the process and guiding principles that will underpin the Government’s approach to setting spending limits are set out in the Spending Review Framework presented to Parliament today.
Last year, Public Sector Net Borrowing was the largest in Britain’s peacetime history. The March Budget forecast the UK deficit to be 11 percent of GDP this year. According to the IMF, the UK has the highest deficit in the G7 and G20.
The Government has made clear that the bulk of the reductions in the current structural deficit will be achieved through reductions in spending. The Spending Review Framework sets out how the SR will:
. To ensure that resources are prioritised within tighter budgets, departments will be asked to prioritise their main programmes against a tough set of criteria to ensure value for money in public spending. The criteria:
• Is the activity essential to meet Government priorities?
• Does the Government need to fund this activity?
• Does the activity provide substantial economic value?
• Can the activity be targeted to those most in need?
• How can the activity be provided at lower cost?
• How can the activity be provided more effectively?
• Can the activity be provided by a non-state provider or by citizens, wholly, or in partnership?
• Can non-state providers be paid to carry out the activity according to the results they achieve?
• Can local bodies, as opposed to central Government, provide the activity?
Read the rest of this article »
Tuesday, 25th May 2010 | by Ray Martin
Singapore, Hong Kong and the USA come out on top!
For the first time in decades, Singapore (1) and Hong Kong (2) have topped the USA (3) in IMD’s World Competitiveness Yearbook rankings. They are so close, however, that it would be better to define them as the leading “trio”. In the first 10 places: Australia (5), Taiwan (8) and Malaysia (10) also benefit from strong demand in Asia. Switzerland (4) maintains an excellent position characterized by strong economic fundamentals (very low deficit, debt, inflation and unemployment) and a well-defended position on export markets. Sweden (6) and Norway (9) shine for the Nordic model, although Denmark (13) surprisingly loses ground, in particular due to the pessimistic mood expressed in the survey.
Not surprisingly Germany (16) leads the larger “traditional” economies such as the UK (22), France (24), Japan (27) and Italy (40). Despite a significant budget deficit and growing debt, Germany’s performance is driven by strong trade (second largest exporter of manufactured goods), excellent infrastructure, and a sound financial reputation. It was also to be expected that China (18) would lead the other BRIC nations, followed by India (31), Brazil (38) and Russia (51). And of course the credit-worthiness storm that affects Southern Europe acts as a drag on the performance of Spain (36), Portugal (37) and Greece (46).
JUST RELEASED! IMD WORLD COMPETITIVENESS YEARBOOK 2010
(Pioneers in competitiveness since 1989)
Monday, 24th May 2010 | by Ray Martin
Retailer set to unveil 5 per cent rise in profits
Publication date: 24 May 2010
Marks and Spencer is poised to award staff generous bonuses for the past year as it prepares to reveal its annual results this week.
More than 72,000 staff are expected to share a bonus pot of £80 million, as a reward for raising the retailer’s profits by 5 per cent. It is expected that M&S’s annual profits will be £630 million after the bonuses have been paid out.
If confirmed, the payout would amount to £1,100 per worker on average.
M&S did not pay a bonus last year, but is increasingly positive about its economic outlook after achieving significant cost savings during the recession. New chief executive Marc Bolland took over from Sir Stuart Rose this month, while the group is also seeking a new chairman in time for its main shareholder meeting in July.
