TaxAdministrationTories plan to strip down ‘dysfunctional’ Treasury

Tories plan to strip down 'dysfunctional' Treasury

George Osborne wants to move tax credits and child benefit to the DWP and force the Treasury to focus on core responsibilities

Shadow chancellor George Osborne has stated that the Treasury would undergo a
major restructuring of its’ rather dysfunctional’ operations, should the Tories
win the next general election.

In an interview with the Financial Times, Osborne claimed that the
Treasury became an ‘imperial power base’ for Gordon Brown during his ten-year
chancellorship, allowing him to challenge the then Prime Minister Tony Blair’s
authority. This, he said, ‘meant that the Treasury itself became a rather
dysfunctional organisation’ and claimed that many within the department agreed
with this assessment.

One of the key changes would be to move the administration of tax credits and
child benefit from HMRC to the Department for Work and Pensions.

‘The DWP is better than the HMRC at understanding the pressures involved,’ he
said.

Osborne also hit out at the Treasury’s extension of responsibilities into
domestic policy, claiming the Whitehall department had ‘lost sight of its core
responsibilities, which are the stability of the economy and also value for
taxpayers’ money’.

Related Articles

New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

1w Emma Rawson, ATT Technical Officer
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

2w Austin Clark, Reporter
Are you ready for the Trusts Registration Service?

Administration Are you ready for the Trusts Registration Service?

4w Helen Thornley, ATT Technical Officer
European Commission close to anti-tax avoidance package

Administration European Commission close to anti-tax avoidance package

1y Fraser Simpson, Reporter
‘Significant recovery’ for HMRC customer service, claims boss Thompson

Administration ‘Significant recovery’ for HMRC customer service, claims boss Thompson

1y Fraser Simpson, Reporter
Advisers bullish despite Brexit concerns

Accounting Standards Advisers bullish despite Brexit concerns

1y Fraser Simpson, Reporter
Brexit: Five questions accountants should be asking

Accounting Firms Brexit: Five questions accountants should be asking

1y Fraser Simpson, Reporter
UK votes to leave EU – accountancy profession reacts

Accounting Firms UK votes to leave EU – accountancy profession reacts

1y Fraser Simpson, Reporter