Our Policy on Transparency for Cross-Border Payments
A core part of Fiscal Accountability is understanding where public funds are directed. Tally Sticks provides transparency for payments made by UK public bodies to entities outside of the United Kingdom. This is crucial for tracking international contracts, foreign aid, and overseas service procurement.
Crucially, our system makes a clear distinction between public sector transactions and the private finances of individuals.
In line with the Data Protection principle, Tally Sticks does not and cannot monitor the private bank accounts or subsequent spending of individual benefit recipients (such as Universal Credit claimants). Our role is to provide a verifiable record that the government department (e.g., DWP) made a legitimate payment to the correct UK-based recipient account. The subsequent private financial activities of an individual are outside the scope of public accountability.
How Reports Look for Different Scenarios
Example 1: Social Security Payment (e.g., Universal Credit)
This report focuses only on the government's action. It validates the payment to the claimant's account and goes no further.
----------------------------------------------------------------- | TallySticks.uk - Public Payment Verification | ----------------------------------------------------------------- | Payment ID: DWP-UC-12345678 | | Paying Body: Department for Work and Pensions (DWP) | | Payment Type: Social Security Benefit (Universal Credit) | | Amount: £XXX.XX | | Destination: Verified UK Claimant Account | | Status: VALIDATED & PAID | | Blockchain Record: View Transaction | -----------------------------------------------------------------
Example 2: Overseas Investor / International Contractor Payment
When a UK public body pays an international company for services, Tally Sticks provides transparency on the destination of the funds. This is a matter of public interest and fiscal accountability.
----------------------------------------------------------------- | TallySticks.uk - Cross-Border Transaction Report | ----------------------------------------------------------------- | Contract ID: MOD-TECH-98765 | | Paying Body: Ministry of Defence | | Recipient Company: Global Tech Solutions Inc. | | Recipient Jurisdiction: US (United States) | | Amount: £2,500,000.00 | | Purpose: Phase 1 development of next-gen communication system | | Justification for Cross-Border Payment: | | "Global Tech Solutions Inc. was selected via a competitive | | tender process for their unique, patented technology unavailable | | from UK-based suppliers at the required specification." | | Status: VALIDATED & PAID | | Blockchain Record: View Transaction | -----------------------------------------------------------------
Why This Matters
- Fiscal Accountability: Allows the public and auditors to see when and why money is leaving the country for public contracts.
- Economic Insight: Provides valuable (anonymized and aggregated) data for economists and policymakers about international public procurement.
- Upholding Equity: Ensures that contracts awarded overseas are done so with clear justification, upholding fairness to UK-based businesses.
- Protecting Privacy: Clearly demonstrates a commitment to not overstepping constitutional bounds into the private finances of individual citizens.