David Goldstone, the government’s new ‘value for money chief’, is set to earn £950 a day for one day’s work a week.
His tasks will include identifying savings from waste and inefficiency, conducting studies to test value for money in areas where cross-departmental spending is riskier, and examining investment proposals to ensure they show a good return.
Goldstone, who now chairs the new Office for Value for Money, said: “I am honoured to have been appointed by the Chancellor and Chief Secretary to this important role.
“I look forward to working within government over the coming year to bring renewed focus to ensuring we deliver maximum value for the public in how money is spent.”
He is also a non-executive director of both the Submarine Delivery Agency and HS2 Ltd, having previously been chief executive of parliament’s Restoration and Renewal Delivery Authority, and working as the chief operating officer at the Ministry of Defence.
Goldstone also led the government’s £9.3 billion investment for the 2012 Olympics.
Chief secretary to the Treasury Darren Jones insisted Labour’s plan to establish this new body came after Liz Truss’ mini-budget, where she promised unfunded tax cuts totalling £45 billion while sidelining the Office for Budget Responsibility.
“One of the problems that Liz Truss had was that she disregarded independent checks and balances and expertise, borrowed loads of money for unfunded policies, and we know everything that happened next,” he claimed.
A Treasury spokesperson said: “David Goldstone is a highly experienced public sector leader with a track record in delivering complex high value programmes and will bring independent rigour to the government’s approach to improving value for money.”
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