The Treasury acknowledges the Committee’s comments regarding the requirement for the Lead Non-Executive Director (NED) to assure Ministers that the finances of the Programme are under control. The Treasury receives quarterly affirmation from NS&I’s Lead NED on the progress and financial health of the Programme before releasing funds. This process has been strengthened to ensure enhanced oversight of the Programme, ensuring that the Lead NED fully reviews the Programme’s financial data prior to providing affirmation. NS&I’s Lead NED also attends the Treasury’s quarterly assurance meetings to provide an independent perspective. As noted in the response to Recommendation 25, the Treasury approved NS&I’s Full Business Case for the Programme in December 2023, subject to conditions, which included the requirement for NS&I to develop a Cost Management Plan and a Benefits Realisation Plan, both of which were completed and approved by the Treasury in March 2024. These plans clearly define the scope and costs for the full Programme and how benefits will be tracked and realised. NS&I provides a breakdown of actual spend for the Programme on a monthly basis, which is reviewed by the Treasury and has been in line with the approved expenditure. The Treasury also holds quarterly assurance meetings with NS&I at which spend data is reviewed and validated. The Treasury continues to scrutinise the Programme and ensure that NS&I has robust processes in place to track and manage its costs.