Gordon Brown is almost certain to close the
Department of Trade and
Industry when he becomes prime minister as part of a plan to
shake-up the structure of Whitehall.
Sunday Times reports that Brown is considering proposals to
abolish the DTI and replace it with a strengthened energy department. The DTI’s
other responsibilities will be distributed among other departments.
If the move does go ahead as expected Alistair Darling, the trade and
industry secretary, will be the last person to lead the department. Darling has
already been touted as potential successor to Brown as chancellor.
The shake-up is being considered in order improve the use of taxpayer’s
money. Brown has always held scant regard for the DTI, which he has regarded as
representing a throwback to old style corporatism.
The DTI employs 10,400 civil servants. Over the years it has lost
responsibility for overseeing mergers and takeovers to the Competition
Commission and Office of Fair Trading. City regulation is handled by the
Financial Services Authority.
The DTI has been the key regulator involved in the company law reform ball,
however, and also funds the Financial
Reporting Council and was involved in launching the Oxera report
on competition and choice in the audit market.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy
A senior MP has questioned the impact of HMRC’s decision to undertake yet another radical overhaul of its internal structure
The Apple Tax situation; Accountants replaced by robots; and The Accountancy Age Top 50+50; all discussed by head of editorial Kevin Reed