DEPARTMENTAL INVESTMENT STRATEGIES
50. In the Spring of 1999 departments will be putting
together investment strategies showing how they will use their
capital productively to deliver their objectives and these will
form part of the Public Service Agreements. We asked whether this
would also be an opportunity for the Treasury to consider sustainable
development implications before allocating funds from the Capital
Modernisation Fund. They replied that although the strategies
will be approved by the Treasury they are not so much an instrument
of Treasury control as a management tool for departments themselves.
However, they did also say that bids for funding must be supported
by an appraisal and that they would draw attention in the guidance
on making bids to the need to make all costs and benefits transparent
in this appraisal, including any impact on the environment.
51. We welcome the Treasury's decision to incorporate
consideration of environmental impacts in their consideration
of bids for capital funding. We urge them to take this further
opportunity to ensure that in their Departmental Investment Strategies
departments sign up to and have plans to deliver targets for energy
efficiency and dealing with contaminated land.
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