• by setting a stable and prudent macroeconomic framework which fosters economic stability and reduces the variability of output and inflation; and by increasing productivity

• by setting clear, long term policy objectives.
• following predictable, well-understood procedural rules for fiscal and monetary policymaking.

A.3 Over the economic cycle to maintain:

(a) public sector net debt below 40 per cent of GDP

(b) the current budget in balance or surplus.

• by planning and controlling public expenditure within firm overall spending limits
• planning spending and taxation so that they impact fairly both within and across generations.
• smoothing the path of the economy in the face of variations in demand through automatic stabilisers and changes in the fiscal position, where prudent and sensible.

• modernising the public services through performance and efficiency targets that focus on key objectives and on outcomes.
• promoting strategic planning of new capital investment and better use of assets through Departmental Investment Strategies and the National Asset Register.

• by maintaining macroeconomic stability through the new monetary, fiscal and public spending frameworks.
• by targeting the five key drivers of productivity performance: competition, enterprise and innovation, skills, investment and public sector productivity.

• by establishing appropriate incentives to work
• by establishing a new Agency for people of working age, with stretching output, service delivery and value for money targets in Summer 2001. These targets will be updated on an annual basis.

• by ensuring a decent family income through tax and benefit reforms
• working with DSS to extend the availability of minimum income guarantees for working people by March 2004.

• by measures to ensure, through IMF and other relevant bodies, transparent surveillance of countries adherence to internationally-agreed codes and standards
• by measures to promote open trade and capital flows
• by tackling financial crime, corruption and regulatory abuses
• by measures to implement reforms to the international financial architecture, to enhance global crisis prevention and resolution.
• maintaining discipline and tackling fraud on the EU Budget
• promoting policies which increase the economic gains, and limit the budgetary consequences of EU enlargement

• by securing faster, wider and deeper debt relief for the poorest countries, through the effective implementation of the Heavily Indebted Poor Country Initiative
• by working internationally to promote growth, development and poverty reduction in developing countries, in line with the International Development Targets

• The £1 billion committed to in this target is defined as value for money gains. In meeting this target OGC will be implementing a wide range of initiatives to ensure value for money improvements in the Government's commercial activities which will deliver real savings to departments (see http://www.ogc.gov.uk/).