Fifty-Sixth Report - Supporting investment into the UK
Select Committee
Public Accounts Committee
HC 996
9 June 2023
Government response
Treasury minutes: Government response to the Committee of Public Accounts on the Fifty-sixth report from Session 2022-23 · published 24 Sep 2023
Recommendations & Conclusions
4 results
5
Conclusion
Rejected
Ensure overseas posts prioritise investment support and train staff on UK-wide opportunities
Conclusion
Overseas posts have a range of roles and priorities and may not be consistent in promoting investment across the UK. Potential investors’ first contact with the Department is often with staff in overseas posts whose role is to help them …
Read more
Government Response Summary
The government rejected the recommendation, stating it already provides comprehensive investment training through its Investment Academy for staff globally and delivers pre-posting training for senior officials, arguing these existing provisions address the committee's concerns.
HM Treasury
View Details
19
Conclusion
Rejected
Overseas posts possess insufficient knowledge of UK-wide investment opportunities.
Conclusion
Potential investors’ first contact with the Department is often with staff in overseas posts. The Department’s network of more than 90 overseas posts across nine geographical 35 C&AG’s Report, para 3.9 36 C&AG’s Report, Figure 2 and Figure 14 37 …
Read more
Government Response Summary
The government disagrees with the Committee's concern, stating that senior FCDO leaders already play an important role and describing existing training programmes like the Investment Academy, pre-posting training, and access to Trade Faculty learning.
HM Treasury
View Details
20
Conclusion
Rejected
Overseas posts exhibit varying levels of staff knowledge and expertise.
Conclusion
We are concerned that staff in overseas posts may have varying levels of knowledge and expertise. We asked the Department about the training available for overseas staff and how the Department is involved in framing the training.50 The Department said …
Read more
Government Response Summary
The government disagrees with the Committee's concern, stating that senior FCDO leaders already play an important role and describing existing training programmes like the Investment Academy, pre-posting training, and access to Trade Faculty learning.
HM Treasury
View Details
21
Conclusion
Rejected
Investment support remains a low priority in smaller overseas posts.
Conclusion
Support for investment may not be a priority among embassies’ other responsibilities, particularly in smaller posts where there are only one or two investment deals each year. We asked the Department whether all embassies are focused on investment. The Department …
Read more
Government Response Summary
The government disagrees with the conclusion that support for investment may not be a priority for embassies. It explains that investment priorities are aligned and targets agreed annually with HM Trade Commissioners, supported by comprehensive training for overseas staff.
HM Treasury
View Details