HM Treasury has set up a Sponsor and Oversight Board to decide the main trade-offs on cost, timing, scope and benefits for NS&I's business transformation programme. Ministers approved an updated business case for a simplified solution in October 2026, and the interim chief executive is now Sir Jim Harra. The National Audit Office reported last year that the programme was four years late and expected to cost £1.3bn more than planned. The latest business case gives no new cost or timetable.
