DAVID GAUKE has been promoted to chief secretary to the treasury, the second in command at the finance ministry, in prime minister Theresa May’s new look cabinet.
Gauke, whose new role includes responsibility for public spending, previously served as financial secretary to the treasury, having previously served as exchequer secretary. His appointment follows the decision to make Philip Hammond chancellor.
As a shadow minister for the treasury, Gauke focused on tax policy such as tax simplification and corporation tax reforms. As the minister for tax, Gauke has been a key exponent of the government’s plans to make tax digital.
In his new role, Gauke will be responsible for treasury interest in devolution to Scotland, Wales and Northern Ireland and public expenditure including:
- spending reviews and strategic planning
- in-year spending control
- public sector pay and pensions
- Annually Managed Expenditure (AME) and welfare reform
- efficiency and value for money in public service
- capital investment
- infrastructure deals
As part of the cabinet reshuffle, which marks a major departure from David Cameron’s top team, former business secretary Sajid Javid has become the communities and local government secretary, while Greg Clark now heads the restructured department for business, energy and industrial strategy.
PwC alumnus Justine Greening has been made secretary of state for education. Greening, who trained as an accountant with PwC worked as a finance manager with Centrica before being elected as a member of parliament in 2005.
Elizabeth Truss, a qualified management accountant, was named as the first ever female lord chancellor and secretary of state for justice.
The UK consumers “may not benefit” from the European Commission’s proposals on e-books
Companies must report on their complex financial structures including offshore accounts and notify HMRC
Andrew Tyrie suggests there will not be enough time to implement Making Tax Digital (MTD) by April 2018
Colin's take on the chancellor's £27bn cushion fund for rainy days ahead, announced in the Autumn Statement