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To renew and modernise the FE College estate with modern, versatile buildings, facilities and industry standard equipment; through a well managed, benefit/value-focused programme; offering learners high quality learning environments in line with the FE College Capital Investment Strategy (December 2012) and Ministerial priorities |
The Francis Crick Institute (formerly UKCMRI) is a joint venture between the UK's largest biomedical research and academic institutions: The Medical Research Council (MRC), Cancer Research UK (CRUK), the Wellcome Trust, University College London, Kings College, London and Imperial College, London. A new research Institution will be established involving the construction of a new facility located close to St Pancras station, London. This facility will accommodate 1,268 scientists when fully operational. The National Institute for Medical Research (NIMR) will be closed. This NIMR site at Mill Hill and the National Temperance Hospital site will be disposed of as part of this project. The project aims are: Sustain UK's position as a leader in biomedical research; Engagement with the most challenging research questions; A scale to compete with major new overseas developments; Promote the health of the public and wider UK economy; Address key concerns of 2006 Cooksey review on publicly-funded healthcare research; Excellent training environment for biomedical research. |
To build a green investment bank, to accelerate a transition to a green economy, by engaging in activities which the companys board considers will, or are likely to, facilitate the development or expansion of businesses; enterprises; industries; infrastructure; projects or technologies which, in the opinion of the board of the company, have an environmentally beneficial objective, such as facilitating the reduction in greenhouse gases; improving resource efficiency or protecting and enhancing the natural environment. |
To put higher education funding on a sustainable footing from September 2012 by shifting public spending away from teaching grants towards repayable tuition fee loans and contribute to eliminating the economic deficit while maintaining high quality in higher education. This overarching objective is supported by a number of subsidiary objectives with the following key deliverables:
Generation of £3 billion savings annually by 2014-15
A single regulatory framework by Academic Year (AY)15/16
Quality of HE provision maintained or improved from AY11/12 levels
Successful launch of the annual student support application cycle
An agreed Communications and Stakeholder Engagement Strategy and Plan |
To sustain the universal postal service for the benefit of all users by securing Royal Mails future through the introduction of private sector capital and associated commercial disciplines.
This will be achieved through:
i) delivering a sale of shares of Royal Mail within this Parliament;
ii) creating an employee share scheme that, as decided by Parliament, will lead to at least 10% of the company in employee ownership to drive strengthened employee engagement;
iii) delivering a financial outcome for the taxpayer, which when considered in the context of the overarching policy objective, represents overall value for money.
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A shared service solution for the BIS network will:
- deliver a structural reduction in the cost base;
- provide simpler, transparent and more integrated processes across the BIS family of organisations; and
- secure continuous cost and process improvement through innovation and the application of a professional business focus.
Shared services enables wider business transformation. Greater benefits will be realised as the service matures beyond transactional services to higher value ones. There are opportunities for shared services to support:
- strategic procurement with effective compliance managing the >£1bn contract expenditure of BIS and partners much more effectively, to deliver savings that could dwarf those from consolidating transactional services
- real benefits from Clear Line of Sight so that rather than being an initiative about consolidating end-year accounts, it can underpin strategic management of BIS and its partners with timely, accurate, valued and well-aligned financial management information |
The SLC Transformation Programme supports the Coalition's programme for Government. The objectives of the programme respond to a number of challenges including the reforms introduced in the White Paper "Students at the Heart of the System". Over the next three years the SLC anticipates major increases in student numbers, and loan values and volumes. The student experience at present is very poor, due to operational and technology issues including lack of availability of complete case information and the time delay between the issue of evidence by students to the completion of the application process at times of high demand. Due to the limited technology update over the last few years the current system needs replacement. A robust and agile customer-centred student finance system is required. Introduce a modern, integrated and flexible IT system to enable the safe delivery of HE reform (including changes to borrowers repayment terms including variable interest rates).
Enhance customer service and operational efficiency.
Support the transformation of SLCs business through introduction of a unified technology platform and the standardisation of processes.
Expected benefits:
Improved customer experience: easier access to real time information, additional communication channels and a reduction in incomplete calls, etc;
Operational efficiencies: increased process automation, reducing avoidable contact and standardisation of workflows;
Strategic fit: alignment of the programme with Government ICT strategy as well as with the strategic direction taken by SLC.
Financial benefits to Government: ensuring HE reform-related savings, agreed as part of the Comprehensive Spending Review, are realised; potential for increasing the value of the loan book and an increase in the recovery of student debts;
ICT efficiencies: introduction of a unified business technology platform, the use of standard technology and the ability to use more agile development approaches |
HM Government is carrying out a programme of asset sales with the purpose of reducing public sector net debt (PSND). The Government has announced intentions to sell the pre-Browne Income Contingent Repayment (ICR) student loan book to contribute to this objective and to realise value to the taxpayer. This loan book will be sold in a series of tranches over a number of years. The first tranche of loans is expected to be sold by 2015-16. As is normal with transactions of this type, there will be a value for money assessment made before each sale. Each sale is required to meet the value for money assessment as well as other key project objectives to be considered a success. Failure to meet objectives will result in a decision not to sell.
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The Government has adopted a policy of asset disposal where there is no longer a good case in public policy terms for continued public ownership. On that basis, the Department of Energy and Climate Change (DECC), with commercial advice and support from the Shareholder Executive, are taking forward preparations for a sale of HMGs one-third shareholding in Urenco, a uranium enrichment company. A sale could realise significant proceeds which have, in part, been earmarked to capitalise the Green Investment Bank in 2014/15. The project was transferred to BIS (in the Shareholder Executive) through a Machinery of Government change in February 2013.
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To Introduce loans for those aged 24 or over, undertaking provision at Level 3 and above from 2013/2014. The project will allow savings to be realised through the conversion of grant to loan funding while still allowing access to advanced and higher level provision . Introduction of loans should put greater power into the hands of learners, creating a more responsive system. System should be simple and non-bureaucratic , representing good value for money and making use of HE infrastructure to minimise disruption and facilitate progression. |
In September 2012 the Government announced the creation of a business bank to address long-standing structural gaps in the supply of finance to SMEs and mid-sized corporates. The bank, which has been allocated £1bn of Government funding, will be tasked with supporting the development of diverse finance markets for business, tackling market failures in the provision of finance, and ensuring that businesses are aware of and can access the support provided by Government.
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