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FCO Services (Performance Targets)

Volume 507: debated on Wednesday 17 March 2010

My noble Friend the Minister of State for Foreign and Commonwealth Affairs, Baroness Kinnock of Holyhead, has made the following written ministerial statement: FCO Services operates as a trading fund of the FCO. I have set the following performance targets for 2010-11:

An in-year surplus before interest and tax of at least £4 million.

A return on capital employed of at least 3.5 per cent. (weighted average).

Wider market revenue growth of 10 per cent. on that achieved in 2009-10.

A contribution to the FCO’s comprehensive spending review commitments by delivering £12 million of cumulative cash savings over the three years 2008-09, 2009-10 and 2010-11.

A utilisation rate for revenue earning staff of at least 76 per cent.

A customer satisfaction rating of at least 85 per cent. satisfied or very satisfied.

FCO Services will report to Parliament on its success against these targets through its annual report for 2010-11.