HM Treasury Hopes To Headhunt FTSE100 Boss To Lead New Tax Department

by Jason Gorringe, Tax-News.com, London

22 March 2004

Media speculation last week suggested that the UK government is seeking to hire an executive from the private sector, most likely the financial services industry, to fill the newly created post of Executive Chairman of the new Integrated Tax Department.

The widely anticipated announcement that Inland Revenue and Customs & Excise will be merged to form a super tax collector was one of the key measures contained in last Wednesday’s budget. It will mean a fairly dramatic cut in administration costs, with 10,000 jobs axed and £200 million per year knocked off the civil service budget.

It is thought that the government’s preferred candidate will come from a FTSE 100 company, and reports indicate that among the Treasury’s targets for the job are two former chief executives of a high street bank. However, the successful applicant is likely to have to accept a dramatic pay cut in the £250,000 per year post, despite being one of the highest paid civil servants.

The government has already placed an advertisement on the Treasury website for the position, and will publish further ads in the national press this week. The text stipulates that the candidate must have “experience of high-profile leadership in a large organisation and proven ability to manage major change,” in addition to possessing the “skills to influence stakeholders inside and outside Government at the highest level.”

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