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November 2006£25
 
© Crown copyright 2006Published with the permission of HMTreasury on behalf of  the Controller of Her Majesty’s Stationery Office.The text in this document (excluding the Royal Coat of Armsand departmental logos) may be reproduced free of chargein any format or medium providing that it is reproducedaccurately and not used in a misleading context. The materialmust be acknowledged as Crown copyright and the title of  the document specified. Any enquiries relating to the copyright in this documentshould be sent to:HMSOLicensing DivisionSt Clements House2-16 ColegateNorwichNR3 1BQFax: 01603 723000E-mail: hmsolicensing@cabinet-office.x.gsi.gov.uk 
HMTreasury contacts
This document can be found on the Treasury website at:
hm-treasury.gov.uk 
For general enquiries about HM Treasury and its work, contact:Correspondence and Enquiry UnitHMTreasury1 Horse Guards RoadLondonSW1A 2HQTel: 020 7270 4558Fax: 020 7270 4861E-mail: public.enquiries@hm-treasury.gov.uk ISBN-10:X-XXXXX-XXX-X ISBN-13:XXX-X-XXXXX-XXX-X Printed by The Stationery Office 11/06Printed on at least 75% recycled paper. When you have finished with it please recycle it again.PU021
 
C
ONTENTS
PageForeword1Executive Summary3Chapter 1Definition11Chapter 2Challenges and Opportunities23Chapter 3Performance35Chapter 4Instruments45Chapter 5Operations77Chapter 6Governance111Chapter 7Conclusion119 Annex AGlossary121 Annex BCall for evidence129
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