Terms of reference: David Goldstone CBE, independent Chair of the Office for Value for Money
Updated 31 October 2024
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1. Role
David Goldstone CBE is appointed by the Chancellor of the Exchequer as the independent Chair of the Office for Value for Money.
2. Duration
The appointment will begin on 30 October 2024, and will conclude on 30 October 2025, with the possibility of extension.
There is no presumption of extension or reappointment. Any reappointment or extension of David’s role will only be made with agreement by the Chancellor of the Exchequer.
The Chancellor of the Exchequer can terminate this appointment at any time if David is guilty of any misconduct that makes him unsuitable to continue to hold this appointment; or David is, in the opinion of the Chancellor of the Exchequer, unable or unfit to discharge the functions of the appointment for any other reason.
3. Role specification
The Chancellor of the Exchequer and Chief Secretary to the Treasury are seeking advice on how to ensure that the government places value for money at the heart of its spending decisions.
The postholder will be responsible for providing expert advice personally to the Chancellor of the Exchequer and the Chief Secretary to the Treasury, in collaboration with other senior civil servants and advisers engaged in delivering value for money. In particular, the postholder will be responsible for:
- intervene to drive better value for money through improved policy outcomes and/or tangible savings
- providing independent advice on actionable recommendations for system reform, to drive cost-effective delivery of policy outcomes
- promoting more active consideration of value for money before government decisions are made and announced
With this in mind, the postholder needs to meet the following criteria:
- experience as a credible C-suite leader with an extensive understanding of the public sector
- a strong track record of delivering value for money activity, supported by robust governance structures
- strong analytical ability to absorb large volumes of complex information and reach robust conclusions quickly
- agile, responsive, able to assess complex situations and set an effective strategy quickly
The role will initially be a 12-month fixed term appointment, approximately 0.2 full-time equivalent (FTE) that could be extended.
4. Resources
David will be paid a day rate of £950 on the basis of a monthly average of 1 day a week commitment, paid gross with the usual deductions and will be supported by a multi-disciplinary team of up to 20 civil servants in an HM Treasury unit, managed day-to-day by a senior civil servant.
The Chancellor and Chief Secretary may appoint expert advisors to support the independent Chair.
5. Governance and ways of working
The sponsor for this role will be Conrad Smewing, Director General of Public Spending. Conrad Smewing will meet with David Goldstone on at least a quarterly basis in order to ensure delivery of these Terms of Reference.
In addition to advising the Chancellor of the Exchequer and the Chief Secretary to the Treasury, it will be essential for David Goldstone to work collaboratively with the key people involved in delivering value for money in public spending, including relevant permanent secretaries. In addition, as appropriate, he might engage directly with the Parliamentary Secretary at the Cabinet Office.
David will have a regular monthly check-in with the Chief Secretary to the Treasury to discuss progress. He will also provide a regular update to the Chancellor of the Exchequer summarising his emerging findings.
As with all such appointees, David will follow the Seven Principles of Public Life and adhere to the Code of Conduct for Board Members of Public Bodies.
David will be provided with IT by HMT, and have access to relevant official and Ministerial papers, subject to the usual security clearance process. David will not disclose any information which is confidential in nature or which is provided in confidence, including his advice to ministers, without express ministerial agreement.
David is not an employee of the Department. Accordingly, nothing in these terms shall be construed as, or taken to create, a contract of employment between him and the Department.
Any expenses will be covered by HM Treasury, although significant expenses are not expected.
6. Conflicts of interest
David will declare any conflicts of interest in the usual way for direct ministerial appointments and he will work with Conrad Smewing to manage any potential, actual or perceived conflicts. David will comply with the measures and mitigations set out by HM Treasury’s Permanent Secretary, with support from the Propriety and Ethics Team if required.
David will remove himself from the discussion or determination of matters in which he has a financial interest. In matters in which he has a non-financial interest, he will not participate in the discussion or determination of a matter as Chair where the interest might suggest a danger of bias. This includes not participating as Chair in discussions or determinations relevant to issues related to his other roles, such as his role as HM Treasury’s nominee member for the HS2 Board, and his role as Non Executive Director of the Submarine Delivery Authority.