Image source: UK Parliament CC BY 3.0
The Cabinet Office has said that £45 million of the proceeds from the sale of its stake in Shared Service Connected Ltd (SSCL) will go to investment in cross-government productivity – with an emphasis on building the digital capability.
This comes after the news that it will sell its 25% share of the operations to Sopra Steria, which has been its joint venture partner in SSCL.
SSCL provides consolidated digital solutions for the public sector including finance and accounting, procurement, and HR and payroll.
The sale has been valued at £82.3 million.
The Cabinet Office said the reinvestment of £45 million will include a particular emphasis on digital capability, and it will also channel the proceeds to continue its work streamlining services and processes across government. The remaining balance will be returned to HM Treasury.
Greater efficiency
Minister for the Cabinet Office Jeremy Quin said: “The SSCL joint venture was set up to drive greater efficiency.
“The Government is now realising its successful investment, securing additional value for the taxpayer and using it to make the long-term decisions to deliver the best public services and boost productivity across the Civil Service.”
