Is it time to trim the UK Treasury? | Larry Elliott
by Larry Elliott from Economics | The Guardian on (#46WRR)
Harold Wilson was right: we need a separate department for the economy to boost growth
The Treasury is the most powerful institution in Whitehall. It is actually a super-ministry combining functions separated in many other countries: management of the economy and control of the public finances.
These two functions are not accorded equal weight and never have been. The Treasury has always been primarily a finance ministry that views its main task as ensuring the nation's budget arithmetic adds up.
Related: Why the UK economy needs a platform 93/4 leap of imagination
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