Treasury committee finally admits government needs more accountants

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In its latest hearing, the Treasury select committee has finally warned the government that the Treasury might not have the accounting manpower to cope with the financial crisis. The announcement came in a report on administration and expenditure in the Chancellors departments.

The report expressed concern that the economic situation was placing ever increasing demands on Her Majestys Treasury at a time when it was making continued staff reductions. Recent months saw the department nationalise Northern Rock, take a majority stake in RBS and a 43% stake in Lloyds TSB-HBOS, and a orchestrate a 500 billion bail-out package for the entire banking sector, all of which raised issues, the committee said. Discussions with the National Audit Office were encouraged.

While we recognise that the quantit...

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