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
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
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
The SME community voices concern about the chancellor's measures in the Spring Budget
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals
One of the bigger announcements of the final Spring Budget is the raising of Class 4 NICs for the self-employed