PERMANENT SECRETARY INDIVIDUAL PERFORMANCE OBJECTIVES 2013/14 Name Department Nick Macpherson HM Treasury 1. Business delivery objectives: Performance Measures: Milestones: Ensure the delivery of HM Treasury’s 2013- Feedback from the Chancellor, HMT Work programme and resource 14 Business Plan/Work Programme, in ministers, Lead Non-Executive Director, allocation in place by the start of particular: Cabinet Secretary and Head of the Civil the financial year 1. Ensure the fiscal consolidation Service Six month challenge sessions programme remains on track, with Performance against work programme and demonstrate HMT is on track to public expenditure outturn consistent business plan metrics deliver work programme with plans. Fiscal projections consistent with mandate objectives 2. Promote sustainable economic and spending consistent with plan. Quarterly performance and risk growth, through supply side reform, Long term interest rates relative to reports and implementation of pro-growth competitors Budget and Autumn Statement measures, eg through Infrastructure Coherent and substantive measures to National infrastructure plan update UK (working with departments to support growth, including continued before summer and publication of deliver infrastructure plan and implementation of measures in National infrastructure capacity plans in improve commercial capacity) Infrastructure plan and measures that April. 3. Ensure contingency plans are in increase the supply of credit to the real Infrastructure guarantees place in event of further pressure on economy. Tax measures, including Royal assent of banking reform the banking system; that the strategy simplification, that support growth Bill by end January 2014 for HMT’s shareholdings continues to Stability of UK Banks relative to G7 partners. Implementation of Help to Buy make progress; that there is further Implementation of Govt work programme on (Mortgages) by January 2014 progress on implementation of Scotland Publication of additional papers to financial service regulatory reform Peer review of evidence for the Union support the case for the union, taking into account the conclusions including on currency and of the Tyrie Commission; and monetary policy implement measures which increase G7, G20, European Council and supply of credit to the real economy, Ecofin meetings e.g. through the Funding for Lending Scheme (FLS) and Help to Buy. 4. Support Ministers in their objective of keeping Scotland within the UK, as part of the Government’s preparations for a referendum in Scotland in September 2014 5. Support the international economic agenda, ensuring a successful UK hosted G7 and G8, tight EU budget settlements and a sensible single market for financial services. Lead the Treasury’s relationship with Bank External comment Monetary Policy Committee (MPC) of England, and ensure the successful reports on use of intermediate transition to the new Governor targets in August Discharge responsibility as Principal National Audit Office (NAO) and Public Accounting Officer for the Treasury Group to Accounts Committee (PAC) reports Publication of relevant accounts before recess the highest standard; and maintain a strong External comment Accounting Officer framework for public Key decisions relating to HMT’s expenditure as a whole asset holdings 2. Corporate objectives: Performance Measures: Milestones: Public Expenditure Outturn White Promote value for money across Whitehall, Feedback from the Chief Secretary, Paper; Supplementary estimates ensure departments live within their spending Paymaster General and others Departmental Reports/Quarterly plans for 2013-14, agree totals for 15-16 and Public spending outturns in line with plans; Data Summaries set out plans for 2014-15 and 15-16, working service performance maintained or improved Spending round completed June with the Cabinet Office. 2013 Implementation of civil service reform plan Quarterly civil service reform plan Play an active role in the management of the updates; main milestones met Civil Service through: Chairmanship of the Heads of Analysis Group, membership of the Civil Service Board, the Senior Leadership Committee, the Remuneration Committee and appointment panels 3. Capability building objectives: Performance Measures: Milestones: Senior appointments Provide effective leadership for HM Treasury, Measured through headcount and budget 6 month work programme review setting direction, delivering results and outturns throughout the year, and successful developing its people; and in particular to resourcing of new pressures in year. Credible Board meetings maintain strength of senior management plans for HMT for 2014-15 and 15-16 Capability review milestones team to support twin objectives of growth and Quality of senior team: feedback from Non- Board sub-committee talent fiscal consolidation. executive directors (NEDs) discussion Working with Board, actively plan, manage All Capability/ White review actions continue to Staff survey and prioritise HMT resources to achieve be implemented on time. Succession Plan in agreed headcount reductions whilst place for top team delivering Work Programme objectives and Maintain staff turnover between 15 and 20% remaining responsive to emerging and cross- Treasury to exemplify Civil Service reform cutting issues. Contribute corporately and departmentally to the delivery of the Civil Service Reform Programme. .