Liz Truss appoints James Bowler to top Treasury role
Liz Truss has appointed a longtime civil servant with 20 years of experience in the Treasury as its most senior official, in an about-turn seemingly aimed at reassuring financial markets and nervous Conservative MPs.
James Bowler, who was permanent secretary at the Department for International Trade (DIT), would now take that role at the Treasury, a government statement said, replacing Tom Scholar, the long-term incumbent sacked by Kwasi Kwarteng as one of his first acts as chancellor.
Antonia Romeo, the permanent secretary at the Ministry of Justice, was said to have secured the Treasury role last week, having previously been close to Truss when she was the top official at DIT, before Bowler. She is now permanent secretary at the justice department.
Kwarteng was believed to have favoured Romeo, who despite being an experienced civil servant had not worked at the Treasury, part of efforts by the new government to hack away at what was viewed as an overly cautious mindset in the department.
But after the currency and government bond markets reacted with turmoil to last month’s tax-cutting mini-budget, prompting an increase in mortgage rates and recrimination among Tory MPs, Truss and Kwarteng have changed course.
Market anxiety was compounded by the government’s refusal to commission a forecast from the Office for Budget Responsibility (OBR) before the chancellor’s fiscal plan, including the now-reversed tax cuts for the wealthiest.
The Treasury has also announced the appointment of two other experienced hands as second permanent secretaries, the next rung down. Cat Little already works at the Treasury, as director general of public spending, while Beth Russell has been in the department for more than 20 years.
They came just
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