1.5 NS&I funds about 20 per cent of net government debt through sales of savings and investments to the retail market. The strategic review of NS&I's role concluded that NS&I provided added value to the taxpayer. This could be measured by the extent to which NS&I raised funds at lower yields than the alternative of the government issuing gilt-edged securities, taking account of the administration costs and tax foregone on some NS&I products. Appendix 2 explains how NS&I measures the value it adds for the taxpayer. In partnership with SBS, NS&I is better placed to achieve added value as its operations become more cost-effective. During 2001/02, NS&I achieved Value Added of £176 million, meeting its annual target of at least £120 million, and expects Value Added in 2002/03 to be some £227 million.