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In a speech to the Institute for Fiscal Studies today (23 April) Danny Alexander, Chief Secretary to the Treasury, announced that he has asked all central government departments to share spending information with the Treasury on a monthly basis and to identify around 5% of their resource budget that could be re-prioritised if new pressures emerge or new policies have to be funded.
Responding to the announcement Ian Carruthers, CIPFA’s Director of Policy and Technical said,
“We agree with the Chief Secretary's central message that good financial management is critical and should involve planning for the possibility that conditions may become much more difficult. The precarious position in the Eurozone remains a very serious risk.
“Delivering further savings equivalent to 5% of departmental budgets will be a very tall order. But it is more likely to be managed well and delivered successfully if realistic contingency plans have been laid.”
Contact: Tim Windle
CIPFA Press Office
t 0207 543 5787
Notes to Editors:
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