Finance

Home page

Finance

Osborne cuts Treasury staff by 25 per cent in example to other departments

31 August 2010 13:40 (UTC +04:00)

Baku - APA-Economics. The number of staff at the Treasury is to be cut by more than a quarter as George Osborne leads by example in the search for widespread cuts across Whitehall, Daily Mail reported.

The Chancellor this week reconvenes the â€˜star chamberâ€™ â€“ a group of ministers from different government departments charged with working out where money in Government can be saved.

It is hoped that by September they will have settled the budgets for a number of departments, including justice, transport, environment and culture.

And Mr Osborne wants to lead the way with his own department â€“ making plans to reduce Treasury staff numbers from 1,350 to 1,000 by natural attrition over the next four years.

The Treasury will shrink its financial services function â€“ an indication that the Chancellor believes the crisis management phase of the banking crisis is over.

And cuts to the department will even stretch to the furniture - civil servants will be asked to sit closer together at smaller desks so that hundreds of employees who work elsewhere in Whitehall can operate from its building.