NAO saves the UK £1.4bn
The National Audit Office has exceeded its target of saving £8 for every £1 it cost to run, according to its annual report published today.
During the past three years the NAO said it saved the taxpayer £1.4bn through identifying cost-savings for government departments.
In the last year, it produced 53 major value for money reports, including those on the Millennium Dome and the public private partnership scheme for the London Underground.
During this period, the office audited £650bn of income and expenditure.
Head of the NAO, Sir John Bourn, said: ‘We always aim to make our contribution as constructive as possible and to make recommendations that will make a real difference to the quality of services delivered to citizens.’
Savings of £124m were achieved as a result of the NAO’s examination of the Private Finance Initiative, said its report.
A further £51m was saved by its work on the National Insurance fund.
The NAO said it was working hard to encourage government departments and agencies to take up its recommendations.
The work of the office has extended overseas, including EU-funded work in Hungary, Slovenia and Estonia.
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