MPs Criticize UK Treasury's New Value for Money Office

The Treasury Committee has expressed skepticism regarding the newly established Office for Value for Money (OVfM), citing concerns about its limited resources and the potential for duplication of efforts already conducted by other government bodies. The OVfM, created by Chancellor Rachel Reeves, has only 12 full-time staff and a short one-year contract for its chair, David Goldstone, raising doubts about its ability to drive significant efficiencies in public spending. The committee highlighted seven existing organizations that already work on ensuring value for money, suggesting that the OVfM may replicate their efforts without clear justification. Additionally, there is a call for the Treasury to provide more detailed information on how the OVfM will interact with these organizations and on its overall spending. MPs, including Dame Meg Hillier, criticized the OVfM as being poorly defined and lacking a clear plan for measuring effectiveness, describing it as a potentially ineffective initiative. The committee concluded that more transparency is needed concerning the office's operations and its unique contributions to taxpayer value.