Save content
Have you found this content useful? Use the button above to save it to your profile.
2017-18 ICAEW president Nick Parker
Nick Parker_ICAEW
2017-18 ICAEW president Nick Parker

New ICAEW president calls for government spending czar

by
7th Jun 2017
Save content
Have you found this content useful? Use the button above to save it to your profile.

Government financial management and systems are under-resourced and need to be revived by an experienced professional, according to the new ICAEW president.

In his inaugural speech at Chartered Accountants Hall in London today, RSM tax partner Nick Parker said the prospect of a multi-billion pound Brexit exit charge means the government needs the right skills and capabilities to manage public finances.

“Government needs to generate income in order to invest in the economy whilst paying down the national debt. However the latest public sector figures show the UK deficit rising faster than expected. It is clear that government is under-resourced in terms of its financial management expertise and systems, and this needs to be addressed,” he said.

When it comes to government finances, he added, you can rely on accountants “to bring some sense to a discussion”.

Parker’s suggestion was to bring back the role of director-general for spending and finance, an old civil service position that focused on these priorities.

The new ICAEW president’s proposal was one of several set out by the institute in a priorities for the new government document, which also called for:

  • public funding to help connect professional advisers to growing companies and private sector expertise
  • incentivising SMEs to start exporting by providing early stage export advice and introducing an export voucher
  • enhancing access to finance for small businesses and making sure the EU originated programmes are renewed or replaced.

Parker trained as a chartered accountant with a small firm in Slough before moving to Touche Ross in London, where he started to specialise in tax. He became a chartered tax adviser and switched to Tenon, an adventure that eventually saw him end up as a tax partner at RSM.

He has been a member of ICAEW Council since 1995 and chaired numerous institute committees, including its main council.

In his speech, Parker confessed at his father’s prompting, “I decided on a career in accountancy without understanding what it really was… It’s a decision I have never regretted.”

Parker will hold the president’s role for a year, when the position will pass to Somerset practitioner and regular AccountingWEB MTD podcaster Paul Aplin, who now holds the ICAEW deputy president post.

Replies (1)

Please login or register to join the discussion.

Julian Cohen
By bigugly
09th Jun 2017 11:45

Isn't this what is known colloquially as the "Chancellor of the Exchequer"?

Thanks (0)