Tax and regulation policy briefing

New Treasury leadership could see a loosening of the fiscal purse strings

In perhaps the least surprising vote in recent political times, the Conservative party elected Boris Johnson as its new leader and the UK’s new Prime Minister. He in turn offered the post of Chancellor of the Exchequer to Sajid Javid, formerly Secretary of State for the Home Office.

But Mr Javid has been in the Treasury before, as a Junior Minister in the role of Financial Secretary to the Treasury and Economic Secretary to the Treasury. This should mean that he is familiar with the machinations of our country’s economic and finance ministry, including the annual Budget cycle. It may also mean that he has specific ideas about how he wants to run things that are different from his predecessor and which he didn’t have influence over as a Junior Minister. Only time will tell.

For businesses, his background in fin