Labour give HS2 director new £950-per-day 'value for money' role

THE Labour Government will pay its “value for money” tsar – who previously oversaw HS2 spending – £950 a day.

David Goldstone’s appointment as the “independent chair of the Office for Value for Money” was announced by Chancellor Rachel Reeves on Wednesday, with his pay packet being revealed later.

Sky News reported that Goldstone is expected to work around one day per week, bringing in an annual salary of around £50,000. He will be supported by “a multidisciplinary team of up to 20 civil servants based in HM Treasury”, the UK Government said.

Goldstone will continue in his role as a non-executive director of HS2 Ltd, where he acts as the Treasury’s representative on the board.

Costs for HS2 were estimated at around £33 billion in 2012, but have since ballooned. In February 2020, reports said total costs would be more than £100bn.

Goldstone also holds roles as non-executive director of the Submarine Delivery Agency and as a member of the Projects and Programmes Committee of GB Nuclear.

Previously, he was the chief operating officer of the Ministry of Defence, and oversaw the UK Government’s £9.3bn investment for the 2012 Olympic Games, including the delivery of the Olympic Park venues and infrastructure.

David Goldstone is the UK Government's new 'value for money' chief (Image: Archant) After his appointment to the “value for money” role was announced, he said: “I am honoured to have been appointed by the Chancellor and Chief Secretary to this important role.

“I look forward to working within government over the coming year to bring renewed focus to ensuring we deliver maximum value for the public in how money is spent.”

A Treasury spokesperson said: “David Goldstone is a highly experienced public sector leader with a track record in delivering complex high value programmes and will bring independent rigour to the government’s approach to improving value for money.”