What amazes me is that I thought the HM Treasury was supposed to be independently supporting the government in power? Perhaps, the true professionals have already been culled and all that’s left are the consultants and “yes- men”? This publication smells of seeking patronage and trying to please George Osborne and his cronies, massaging the news.
The reality, of course, is that the UK’s exports to China and access to massive Chinese wealth funds for inward UK investment have been severely curtailed because of David Cameron‘s foreign policy blunders.
With regard to economic policy, there has been huge economic and social damage from excessive austerity, with ineffective attention to investment, improving skills and creating jobs. The Chancellor, George Osborne, is first and foremost a political animal, with no formal education in economics, and little work experience outside politics. Osborne’s policies have largely been ideology based, rather than evidenced-based.
Add to an ineffective Chancellor, an HM Treasury that is trying to please its political masters and we have a very potent and potentially toxic cocktail.
Let me turn this to an open question:
Should the heads of UK Government departments, like HM Treasury be political appointments or independent professionals?