9
Accepted
HM Treasury confirmed that it regards the NAO’s £372 billion estimate of the total cost...
Conclusion
HM Treasury confirmed that it regards the NAO’s £372 billion estimate of the total cost of the government’s response to the pandemic to be a good representation of the total gross lifetime costs of policy decisions driven by COVID-19, and a reliable snapshot based on what is known now. It remarked that the NAO’s estimate is close to the figure of £407 billion for the COVID-19 funding made available at the Budget, and that it can reconcile the £35 billion difference between the two.11
Government Response Summary
The government confirms it continues to work closely with the National Audit Office (NAO) and departments to support the COVID-19 cost tracker publications, sharing information and reconciling data.
Government Response
Accepted
Government Response
Accepted
HM Government
Accepted
1.1 The government agrees with the Committee’s recommendation. Recommendation implemented 1.2 HM Treasury has worked closely with the National Audit Office (NAO) to support the publication of each version of the COVID-19 cost tracker and has shared information to help them identify new COVID-19-related measures. HM Treasury teams work closely with departments to assist their returns to the NAO and to reconcile these to internal HM Treasury data. 1.3 HM Treasury continues to develop closer partnerships with the NAO to produce cost tracker updates, including through regular meetings during and after the planning and project phases.
Source
Committee
Public Accounts Committee
Inquiry
COVID-19 cost tracker update
Report
Twelfth Report - COVID 19: Cost Tracker Update
25 Jul 2021
HC 173
Addressee Bodies
HM Treasury
Timeline
Recommendation age
5.0 yrs
Report published
25 Jul 2021