Committee of Public Accounts: Press Notice

A STATEMENT FROM EDWARD LEIGH MP

CHAIRMAN OF THE COMMITTEE OF PUBLIC ACCOUNTS

National Audit Office report: The Shareholder Executive and public sector businesses

The Shareholder Executive has been on the ball in helping government improve its performance as a business owner, and its results-orientated approach has delivered healthy returns for government and the taxpayer.

But the Executive's powers are too limited and its remit for oversight of some industry watchdogs could cloud its focus to the detriment of its main job - improving government's performance as a shareholder.

The Shareholder Executive has demonstrated its value but even more could be achieved if it was given greater independence and all departments were obliged to let the Executive manage their shareholdings, or explain why if they don't comply.

It is time to unlock the shackles on the Shareholder Executive and to give it the powers it needs to help government get the most from its business dealings.

Notes for Editors

Requests for further comment from Edward Leigh should be made via Luke Robinson, Select Committee Media Officer, on 020 7219 5693 or 07917 488549.