12
Department lacks routine long-term monitoring and evaluation for inward investment project outcomes.
Conclusion
The Department does not routinely monitor what outcomes have been achieved, whether they are higher or lower than forecast, or whether investments have led to any economic disbenefits.27 We asked the Department how many of the jobs it forecasts at the outset are still there five years later. The Department told us that it does not have a long-term evaluation of individual projects in place. It said that it needed to balance the costs involved in following up prior-year projects. However, it agreed that the question of evaluating its long-term impact over five to ten years was a good one which it should look into.28 19 Qq 58–61 20 Q 61 21 C&AG’s Report, para 3.14, Figure 1 22 Letter to the Chair of the Public Accounts Committee from Gareth Davies, DBT Permanent Secretary, 20 March 2023 23 Q 27 24 Q 34; C&AG’s Report, para 3.14 25 Qq 16–17, 34 26 Letter to the Chair of the Public Accounts Committee from Gareth Davies, DBT Permanent Secretary, 20 March 2023 27 C&AG’s Report, para 12 28 Qq 23–25 12 Supporting investment into the UK Digital capacity
Government Response
A response document is linked to this report, dated 24 September 2023. Response attribution to this conclusion has not been verified. Read the response document.
Source
Committee
Public Accounts Committee
Inquiry
Supporting investments in the UK
Report
Fifty-Sixth Report - Supporting investment into the UK
09 Jun 2023
HC 996
Addressee Bodies
HM Treasury
Timeline
Recommendation age
3.3 yrs
Report published
09 Jun 2023