IPA also characterised inflationary pressures as a “very real issue” which was “beyond a risk: it was a reality”. For example, it quoted inflation at 23% over the last six months on materials. IPA concluded that programmes will need to be more productive to help offset inflationary pressures.57 HM Treasury recognised that all departments were facing inflationary pressures with some struggling to evidence the impact of these pressures. This may be, for example, because some programmes were pro...

IPA also characterised inflationary pressures as a “very real issue” which was “beyond a risk: it was a reality”. For example, it quoted inflation at 23% over the last six months on materials. IPA concluded that programmes will need to be more productive to help offset inflationary pressures.57 HM Treasury recognised that all departments were facing inflationary pressures with some struggling to evidence the impact of these pressures. This may be, for example, because some programmes were progressing commercial negotiations or had not yet reached a stage where the impact of inflation could be quantified.. HM Treasury also said that inflationa Type: conclusion | Number: 19 | Response status: not_addressed Government response: 5. PAC conclusion: Government major programmes are experiencing significant challenges, such as skills gaps and inflation, which will impact on their feasibility and value for money. 5. PAC recommendation: HM Treasury and IPA should outline the extent to which cu