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13 January 2011
The Chancellor welcomed new members to the Board, Baroness Sarah Hogg (the Treasury’s Lead Non Executive Director) and Julian Kelly (Group Finance Director). The Permanent Secretary set out the key challengers for the year including, embedding Spending Review settlements, banking reform and developing the growth agenda.
Members discussed implementing the Treasury’s own Spending Review Settlement, where there would be a particular emphasis on bearing down on non-pay and building costs. It was agreed it is important for officials and ministers to work closely on strategic planning and flexible resource allocation to priorities.
Board members discussed plans for the forthcoming Budget financial services issues and the growth agenda.
22 July 2010
The Chancellor welcomed members, noting that under the new arrangements, this was the first time for over two centuries that the occupier of his post was chairing the Board. Members discussed the role of the non-executives and the value of the political leadership coming together with the official leadership and the non-executive leadership periodically to test whether the department was genuinely focusing on ministerial priorities.
Members noted the development of Treasury’s Structural Reform Plan and the need to ensure that the work programme in the plan was consistent with the resource available.
Members discussed the strategic review of the Treasury. The review’s scope would include considering how Treasury carried out its role and policy areas it could potentially withdraw from. The Treasury should apply the same rigour of scrutiny to that expected of other departments. The review would report back in the autumn.