Wednesday 03 Jun 2015 @ 09:10
HM Treasury
Printable version

Statement to Parliament: Machinery of Government changes: 1 June 2015

The Prime Minister announced Machinery of Government changes to the Shareholder Executive, the Digital Economy Unit and policy on cities.

This written ministerial statement confirms the following Machinery of Government Changes.

Shareholder Executive

Responsibility for the Shareholder Executive will transfer from the Secretary of State for Business, Innovation and Skills to the Chancellor of the Exchequer. A new government-owned company (GovCo), wholly owned by HM Treasury, will be formed to oversee the activities of both the Shareholder Executive and UK Financial Investments. This change will take place on the establishment of GovCo.

Digital Economy Unit

Responsibility for the Digital Economy Unit will transfer from the Secretary of State for Business, Innovation and Skills to the Secretary of State for Culture, Media and Sport.

Cities policy

Responsibility for cities policy will transfer from the Chancellor of the Duchy of Lancaster to the Secretary of State for Communities and Local Government.

Channel website: https://www.gov.uk/government/organisations/hm-treasury

Share this article

Latest News from
HM Treasury

Readout of Five Finance Ministers Meeting in Washington DC

19/04/2024 15:10:00

UK Chancellor Jeremy Hunt chaired a meeting of the “Five Finance Ministers” of Australia, Canada, New Zealand, the United Kingdom and the United States.

Landmark Childcare Rollout on Track

19/04/2024 12:12:00

Government publishes new data showing 195,355 children benefitting from government-funded childcare for two-year-olds in successful April launch.

Boost to everyday charitable donations through new VAT relief

18/04/2024 12:25:00

Consultation on VAT relief on everyday charitable donations will be launched before 23 July 2024.

Jessica Pulay to become CEO of the UK Debt Management Office

17/04/2024 11:05:00

She will succeed Sir Robert Stheeman as Chief Executive Officer of the UK Debt Management Office this summer

Joint statement on Multilateral Development Bank Callable Capital

16/04/2024 15:22:00

The UK participated in a joint shareholder statement on Multilateral Development Bank (MDB) Callable Capital in response to the G20's Review of MDB Capital Adequacy Frameworks.

UK and U.S. to clamp down harder on the trade of Russian metals

15/04/2024 11:10:00

The recent (12 April 2024) action brings the world’s two largest metal exchanges into the scope of existing bans.

Government rewards workers with record tax cut for 29 million

05/04/2024 16:10:00

Government rewards hard work with record tax cut to National Insurance for 29 million workers

UK Government rewards work with £701 a year boost for workers in Wales

05/04/2024 11:12:00

Average worker in Wales will be £701 better off a year as government cuts taxes.

Boost for small business as VAT threshold raised and rates frozen

02/04/2024 09:05:00

Small businesses receive boost as VAT threshold raised and business rates frozen

How Lambeth Council undertakes effective know your citizen (KYC) / ID checks to prevent fraud