About the Group - Fiscal Group
Fiscal Group works on a wide-ranging and exciting set of issues which are at the heart of the Treasury's objectives. We are responsible for ensuring the sustainability of the government's finances - over both the medium and long term - to support economic stability and growth.
This means making sure that the government has enough revenue to meet its spending commitments. Work in this area includes advising the Chancellor on the appropriate levels of borrowing and debt, overseeing financing raised for the government by the Debt Management Office and National Savings & Investments, and managing the daily flow of cash across the public sector.
About the Team
Fiscal Statistics and Policy (FSP) is a team of analysts and policy professionals, that plays a key role at the centre of the Treasury's policymaking! We closely monitor the public finances, jointly producing the monthly Public Sector Finances (PSF) statistical release with the Office for National Statistics (ONS). The team produces risk, forecasting and scenario analysis on the fiscal position, identifying issues and providing analysis on the Office for Budget Responsibility's (OBR) forecasts as necessary.
We provide advice to the Chancellor on the fiscal framework and, work very closely with other Treasury central fiscal teams, on the fiscal policy judgement at each fiscal event. The team has a key representational role on UK fiscal policy, promoting and defending it to external stakeholders including the International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD) and Credit Rating Agencies.
FSP is also the departmental sponsor of the relationship with the OBR acting both as its primary customer and relationship manager, and also fulfilling governance roles including managing appointments to the Budget Responsibility Committee. We are a friendly team who are proud of our diversity.
About the Job
This is an exciting role at the centre of delivering the Treasury's objectives for sustainable public finances and economic growth! The Fiscal Strategy branch of FSP provide advice to the Chancellor on the level of government borrowing and debt over the medium term and the government's fiscal framework, including its fiscal rules. We collaborate with tax and spending teams to ensure that new policies are developed in line with the fiscal strategy. This is a high-profile area with lots of ministerial interest and exposure to senior officials.
The postholder will be responsible for supporting the development of the government's fiscal strategy and effectively communicating it to a range of audiences. The role would suit an individual who thrives when working with others and can use their excellent verbal and written communication skills to clearly explain often complex ideas. We work in an often fast-paced environment, so the postholder will need to be able to effectively prioritise.
Experience in economics, analysis or prior knowledge of the public finances is not required. We are seeking someone who is keen to learn! You will work with a friendly team of policy advisers and analysts to ensure our advice is informed by the best possible evidence.
The branch work flexibly across a range of priorities and exact responsibilities can be adapted to suit the interests and development areas of the post-holder. Key duties will include:
- Lead on advice on the medium-term fiscal strategy. The postholder will collaborate with teams across the Treasury to provide advice which balances economic, fiscal and policy considerations and will help to ensure the development of tax and spending policy is in line with the government's overall fiscal strategy. This includes responsibility for running the Fiscal Strategy Group, a cross-Treasury forum for fiscal discussion and decision-making on key areas including overall approach to fiscal strategy and the balance between borrowing, tax and spend.
- Lead on advice regarding the fiscal rules. Responsibilities include providing advice to Ministers on rule design and ensuring delivery of the fiscal framework approved by Parliament.
- Deliver key elements of fiscal events. Specific responsibilities will vary to suit the interests and development needs of the postholder. Previous post-holders have written a published chapter of the Budget document, written internal briefing for Ministers, identified and presented mitigation for presentational risks, and reviewed the Chancellor's speech for clarity and accuracy.
- Communicate fiscal policy to a range of different audiences. The postholder will independently draft a range of high-quality products, such as press briefings, speeches, letters, and reports. There will also be opportunities to orally brief Ministers, deliver presentations and support parliamentary debates.
- Lead on external stakeholder monitoring and engagement. To support effective policymaking, the postholder will build an understanding of the varying perspectives on fiscal policy and provide insights for senior officials and Ministers. This could include attending events, summarising academic developments, and planning meetings for senior officials. This will also include monitoring international developments, and working closely with International Group to understand live fiscal policies debates in other countries.
- Contribute to ensuring FSP and the wider Fiscal Group is an inclusive place to work. This could include contributing to corporate objectives such as on staff wellbeing and diversity and inclusion.
If you would like to speak to the hiring manager informally prior to the closing date for applications to find out more about the job, please contact [email protected]
