Treasury permanent secretary Sir Nicholas Macpherson to step down

Surprise announcement that Treasury's most senior civil servant will quit role in April triggers search for his successor

Sir Nicholas Macpherson, the Treasury's most senior civil servant, will step down in April after 10 years advising successive chancellors of the exchequer.

The surprise announcement will trigger a search for a new permanent secretary, most likely from the ranks of the Treasury's senior staff, although the No 10 adviser Tom Scholar was cited by some insiders as a possible successor.