Skip to main content

Public Money

Volume 694: debated on Wednesday 25 July 2007

My right honourable friend the Chief Secretary to the Treasury (Andy Burnham) has made the following Written Statement.

Today the Treasury publishes Managing Public Money. Formally it will replace Government Accounting from October. It is part of a suite of documents of which the Code of Good Practice on Corporate Governance in Central Government Departments is the apex. It can be found on the Treasury website. Copies are available in the Library of the House.

The new document makes no significant change to the high standards of stewardship expected of those responsible for handling public resources. Rather, it brings out clearly and concisely how important it is that public money is well managed and achieves good value. At the same time it emphasises that Parliament expects these standards to be honoured and will hold public servants accountable against them.