Financial Secretary, Dax Richards, and Assistant Financial Secretary, Nicholas Yon, will soon undertake an exposure visit to the UK.
Funding has kindly been provided by the Foreign & Commonwealth Office which is committed to building on expertise in the St Helena Government. The visit will be organised by the Commonwealth Parliamentary Association UK (CPA UK) in partnership with the St Helena Government. Dax and Nicholas will join other participants from: the UK Government, the Crown Dependencies and Local Authorities. Dax will attend from 4 to 11 September and Nicholas from 18 to 25 September 2018.
The CPA UK has formed a consortium with the UK National Audit Office (NAO) and the UK Government Internal Audit Agency (GIAA) to deliver a three-year project of activities to support UK Overseas Territories (UKOT) in building on their financial capabilities. The programme will bring together stakeholders from the Territory Governments and UK Government to discuss frameworks for robust public financial management.
Both Dax and Nicholas have packed itineraries including meetings with DFID, HM Treasury, the Bank of England and the Ships Registry.
They will also observe the Treasuries of the Isle of Man and Jersey.
Financial Secretary, Dax Richards, said:
'I'm delighted to have this opportunity for continued professional development and in particular to gain greater exposure to similar senior finance roles within the UK and the Isle of Man Governments. I hope to be able to bring back skills and ideas which will help SHG as we look to strengthen public financial management across the organisation and the Island in this period of significant change. My thanks are extended to the FCO and the CPA for funding this exposure visit.'
The projected outcomes of the exposure visit are:
Increased understanding of the role and functions of Senior Financial Officers/Finance Leads in a range of organisations, sharing best practice with the UK Government, Crown Dependencies, and in a Local Authorities
Increased understanding of how HM Treasury and the Bank of England approach decision-making on issues such as fiscal policy, inflation etc.
Increased understanding of how the UK manages its shareholder stakes in non-government entities
Increased understanding of how different organisations approach budget management and forecasting, manage risk, and manage operations within the Treasury
Assistant Financial Secretary, Nicholas Yon, concluded:
This is a great development opportunity for me and one which I am looking forward to attending. This programme will provide the means to broaden my understanding of public financial management and accountability particularly within UK Government departments, local authorities and other jurisdictions. I also hope to explore how tax policies are being used to drive development and what other jurisdictions are doing to secure tax revenues.
I am grateful to the UK CPA and FCO for organising and funding this programme.
Source: St Helena Government