27
Accepted
NS&I's corporate metrics inadequately measure programme progress despite significant business risks
Recommendation
NS&I’s annual report and accounts state that it is meeting its overarching corporate metrics, including the important measure of how much finance it raises for government. There are risks to NS&I’s whole business and to its customers if the Programme is unsuccessful. NS&I agreed that its overall corporate metrics did not measure progress on the Programme. This is despite the risks to customer data and NS&I operations. It accepted that disruption from the Programme could impact NS&I’s operations, but claimed that measuring progress might not “add anything”, despite the Programme taking a lot of senior management time, and suggested delays only impact the “perception” of performance.79 72 Q 57; C&AG’s Report, para 9 73 Q 17 74 Qq 56-57 75 Qq 18, 54-55 76 C&AG’s Report, Figure 9 77 Q 16 78 Q 18; C&AG’s Report, para 9 79 Qq 62-64 16 The role of the Treasury
Government Response Summary
The Treasury accepts the recommendation, stating NS&I now tracks programme progress through internal metrics reported to committees and the Treasury, and has adopted revised objectives aligned with the latest plan. These new targets are incorporated into the 2024-25 Corporate Plan, with performance to be publicly reported in NS&I’s Annual Report and Accounts for 2024-25.
Government Response
Accepted
Government Response
Accepted
HM Government
Accepted
The Treasury accepts this recommendation. NS&I tracks the Programme’s progress through a number of internal metrics including progress against milestones, status of deliverables and releases, Programme level risks and issues, and key performance indicators. This is reported to its Investment Committee (IC), the Executive Committee (ExCo) and Board, and shared with the Treasury through quarterly assurance meetings. Programme metrics are also reported through NS&I’s Annual Report and Accounts (ARAC), including progress against a number of key Programme targets. NS&I has also adopted a revised set of objectives and targets that align with the latest Programme plan and benefits realisation targets. These have been incorporated into its 2024-25 Corporate Plan and performance will be publicly reported in NS&I’s Annual Report and Accounts for 2024-25. The Treasury scrutinises NS&I’s corporate plans and associated metrics to ensure they are stretching and aligned with government priorities.
Source
Committee
Public Accounts Committee
Inquiry
NS&I’s transformation programme
Report
67th Report - NS&I’s transformation programme
13 Feb 2026
HC 1237
Addressee Bodies
HM Treasury
Timeline
Recommendation age
0.5 yr
Report published
13 Feb 2026