NAO saves £1.3bn.
The National Audit Office said today it had met its target of saving £8 for every £1 it spends.
The news comes in the government watchdog’s annual report which reveals it has managed to save £1.3bn of taxpayers money over the last three years.
Savings made by the NAO include £120m in 1999 for prematurely retiring teachers and £25m a year from April 2000 saved by electricity customers following recommendations to the Office of Gas and Electricity Markets. Sir John Bourn, head of the NAO, said: ‘The backdrop of all we do is of course our contribution to the accountability process. The audit regime provides a vital safeguard for taxpayers’ money.’