PracticeAccounting FirmsFinancial Power List 2018: 1-5 revealed

Financial Power List 2018: 1-5 revealed

Here we reveal the top 5 individuals we feel will have the greatest impact on the accountancy industry in 2018

Compiled by the Accountancy Age editorial team, the Financial Power List 2018 ranks the 50 individuals who we believe will have significant influence on the direction of the accountancy industry over the next 12 months. Individuals considered for the list span government, practice and business with the rankings reflecting who has the power to make an impact in 2018.

We have counted down to the number one spot, so make sure you check back later today to view the full rankings table. You can also read up on each individual on the list by visiting their profile page.

Here, we reveal the individuals who have made positions 1-5 on this year’s list.

5. Mel Stride, Financial Secretary to the Treasury

Stride is 5th on our Financial Power List 2018. His powers and responsibilities as Financial Secretary span HMRC, tax, and duties and customs policy, as well as women in the economy and public spending issues.

In the past, Stride has heavily supported investment into R&D, skills, business, and productivity in the economy. He also champions education as the path to social mobility and a way to combat poverty.

Around the time he was appointed Financial Secretary, he spoke in the chamber about addressing school standards, a banking reform, and National Insurance Contributions. We are looking forward to the changes and improvements he makes as a result of this in the year ahead.

4. Elizabeth Truss, Chief Secretary to the Treasury

Liz Truss ranks fourth on the Financial Power List 2018.

As Chief Secretary to the Treasury Truss is responsible for public expenditure, and some issues within her remit are capital investment, trade spending, transport policy, public sector pay and pensions, and more.

An unlikely Instagram and Twitter star, Truss champions the Conservative party reaching out to younger generations while touting the benefits of free enterprise.

In her role as Chief Secretary, Truss also oversees tax credits, childcare and labour market policies.

3. David Sproul, Senior Partner and Chief Executive, Deloitte

Sproul is third on the Accountancy Age Financial Power List 2018. His impact on Deloitte, and Deloitte’s impact on the economy, is set to continue on an upward trajectory this year following a revenue rise of 11.2% last year. It seems that increasing concerns over cyber security, upcoming regulation, and the impact of Brexit drove up demand elsewhere.

Deloitte are striving to snatch some of the financial advisory market. The firm is also aiming to increase its presence in the technology and creative consulting space, after recently announcing its partnership with Apple as well as buying creative agency Acne.

Sproul also highlighted how the firm is on the lookout for digital design and big data analytics experts.

2. Philip Hammond, Chancellor of the Exchequer

Philip Hammond comes second on the Financial Power List 2018.

As Chancellor of the Exchequer, Hammond heads the Treasury and oversees the government’s fiscal and monetary policy.

Hammond has delivered two Budgets since assuming the role in 2016 due to timetable changes; the first was overshadowed by a U-turn on NIC rises, and the second dominated by a pledge to slash stamp duty tax for first time home buyers.

The Chancellor’s moderate approach to Brexit has drawn ire from Eurosceptics and pro-EU MPs alike, and this friction is likely to continue into 2018.

Brexit planning and building thousands of new homes will be priorities for the Chancellor in the upcoming year.

1. David Davis, Secretary of State for Exiting the European Union

As Secretary of State for Exiting the European Union, Davis plays a crucial role in spearheading Brexit negotiations.

Davis has endured a difficult year – contending with fitful Brexit talks while attempting to present a cohesive negotiation position, something that does not seem to exist even within his party.

In the year ahead Davis has his work cut out for him as he attempts to finalise draft agreements before the UK’s official departure from the EU in March 2019. While progress has been made in the initial phase of Brexit negotiation – looking at citizen’s rights, the divorce bill and the Irish border –Davis will now advance to crucial trade negotiations and establishing the future relationship between the UK and EU.

You can also see who made the power list in 2016 and 2017.

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