'RED HERRING'
Fresh blow to Rachel Reeves as Commons probe delivers scathing verdict on her Office for Value for Money
Questions raised as to what quango will achieve that cannot be done elsewhere
RACHEL Reeves’ Office for Value for Money is a waste of cash, a Commons probe has found.
The Chancellor launched the quango last year to ensure every pound spent was benefitting taxpayers.
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But the Treasury select committee has delivered a scathing verdict in a fresh blow to her handling of the public finances.
Its chairwoman, Labour’s Dame Meg Hillier, said MPs concluded it was “understaffed and poorly-defined” with “no clear plan to measure its effectiveness”.
She added: “All of which leads me to feel this initiative may be something of a red herring.”
Dame Meg also questioned what the quango will achieve which cannot be done elsewhere.
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Other government areas already scrutinise spending.
The National Audit Office has an annual £106million budget and 960 staff — dwarfing the OfVfM’s 12 full-time civil servants.
Shadow Chancellor Mel Stride said: “Labour are more interested in vanity quangos than saving money. If they can’t make clear what this unit will do, and how, it should be abolished.”
But a Treasury spokesman hit back: “For too long, taxpayer money has been squandered and we are putting an end to it.
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“This office’s role is additional to existing parts of government.
“It will draw on a range of expertise to help root out waste, including on where department spending may be overlapping.”
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