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'RESOURCE ACCOUNTING' IN PUBLIC SECTOR TO HAVE WIDE EFFECT

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The Social Market Foundation today called changes to public sector accounting practices as one of the government's ...
The Social Market Foundation today called changes to public sector accounting practices as one of the government's most important Whitehall management reforms, the Financial Times reports (p7).

The foundation says insufficient attention has been given to the budget comment by Kenneth Clarke, the chancellor, calling for a move to 'resource accounting'.

At the moment there is little accounting of the use of capital to meet costs of maintaining resources such as land, buildings and large equipment.

Mr Evan Davis, the report's author, says the introduction of such accounting in the public sector would rank alongside market testing, the introduction of executive agencies and the private finance initiatives in its impact on the restructuring of Whitehall.
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