In September the Homes and Communities Agency published a consultation on a revised Value for Money (VfM) Standard. The consultation proposed to revise the VfM Standard and publish a new associated Code of Practice to help registered providers understand how compliance with the new Standard might be achieved.
The proposed Standard aims to move the focus of the regulatory approach away from the primarily narrative self-assessment to more outcome-based reporting from registered providers on targets, including a suite of metrics to be defined, from time to time, by the regulator.
In response to the consultation, and in order to gather the views of its members, the NHC arranged and facilitated three meetings around the North East, North West and Yorkshire and Humber regions. The key points in discussions held at those meetings have informed a response to the consultation.
We look forward to the publication of the final standard. The NHC will reconvene groups of members following the issue of the standard to discuss implementation, timescales and any other regulatory issues.
The NHC response to the consultation which includes member’s views of how the VfM Standard and the associated Code of Practice are developed and implemented can be accessed here.