Brexit & EconomyPoliticsTreasury to abolish finance department

Treasury to abolish finance department

Cost-cutting drive sees scrapping of finance and industry directorate

Nicholas Macpherson, the Treasury’s permanent secretary, will scrap the
organisation’s finance and industry directorate as part of a widespread
cost-cutting drive.

Macpherson announced yesterday that the finance and industry directorate will
be shutdown and its functions taken on by the Treasury’s international and
public expenditure directorates.

The FT reports that Gordon Brown’s favourite son John Kingman,
previously in charge of finance and industry, will be in charge of the sensitive
public expenditure review.

The management overhaul will also see Jon Cunliffe, the Treasury’s second
permanent secretary, expand his international and finance directorate by
including financial services in his portfolio.

Related Articles

5 key takeaways from Theresa May’s Florence speech

Brexit 5 key takeaways from Theresa May’s Florence speech

3m Alia Shoaib, Reporter
UK at risk of Brexit talent brain-drain

People Practice UK at risk of Brexit talent brain-drain

4m Alia Shoaib, Reporter
Brexit essentials: this week's round-up

Politics Brexit essentials: this week's round-up

4m Alia Shoaib, Reporter
Government publishes post-Brexit customs arrangements policy paper

Politics Government publishes post-Brexit customs arrangements policy paper

4m Alia Shoaib, Reporter
Italy grants first successful non-dom status application to former UK non-dom

Personal Tax Italy grants first successful non-dom status application to former UK non-dom

4m Emma Smith, Managing Editor
Increased government spending partly offset by high tax revenue

Governance Increased government spending partly offset by high tax revenue

5m Alia Shoaib, Reporter
Less than a third of UK businesses have made formal Brexit plans

Politics Less than a third of UK businesses have made formal Brexit plans

5m Alia Shoaib, Reporter
Nicky Morgan elected Chair of the Treasury Committee

Politics Nicky Morgan elected Chair of the Treasury Committee

5m Alia Shoaib, Reporter