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Foreword page

Introduction

1 Delivering Better Public Service: Progress

Objective A: To promote enterprise, innovation and increased productivity

Objective B: To make the most of the UK's science, engineering and technology

Objective C: To develop strong, competitive markets within a regulatory framework which promotes fairness and sustainability

Objective D: Enhanced competitiveness of Britain's companies through overseas sales and investments; and a continuing level of quality foreign direct investment

Section E: Managing investments, assets and liabilities

Section F: Agencies and related organisations

Annexes (Including Main Estimates)

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Bibliography

This Report sets out the Government’s Expenditure Plans for Trade and Industry for 2001-04 and Main Estimate for 2001-02. It also assesses performance against targets and provides a summary of significant developments in 2000-01. The Report covers the Department of Trade and Industry (including British Trade International), the Export Credits Guarantee Department, the Office of Fair Trading, the Office of Telecommunications, the Office for Gas and Electricity Markets, and the Postal Services Commission. It supplements the Financial Statement and Budget Report 2001-02.

Spending Review 2000 and transition to resource accounting and budgeting

The Report reflects two major developments. First, the Spending Review 2000 settlement set out the Government’s spending plans for the period 2001-04 for each department. It included:

• a boost in investment in UK science, including a £1 billion capital investment in science research infrastructure in partnership with the Wellcome Trust;
• £190 million new funding for the Small Business Service to promote enterprise, particularly in disadvantaged areas, and provide advice and support to small businesses;
• nearly £40 million for renewable energy projects;
• over £30 million funding increase for UK Trade & Investment; and
• extra funding to promote competitiveness through the Regional Development Agencies.

The Spending Review also developed the objectives and targets for the Department in its Public Sector Agreement, as set out in Chapter 1 of this Report.

Second, financial information is presented on an accruals basis for the first time. This change, first announced in the 1995 White Paper, Better Accounting for Taxpayer’s Money (Cm 2929) was designed to ensure that published financial information reflects better the use of resources over time and to encourage greater emphasis on outputs and the achievements of aims and objectives. Further explanatory notes about the change are provided in Annex B.

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