Policy Adviser Financial Transactions

About the GroupFiscal GroupFiscal Group works on a wide-ranging set of issues at the heart of the Treasurys objectives and fiscal events such as Budget. We are responsible for ensuring the sustainability of the governments finances, overseeing its macroeconomic policy framework, and stable and efficient financing of government liabilities. Work includes advising the Chancellor on the appropriate levels of borrowing and debt (as well as broader commitments like guarantees & insurance), providing analysis of the governments finances, overseeing financing raised for the government by the Debt Management Office and National Savings & Investments. We work with teams across the Treasury to support decisions on the full breadth of government policy. We also have particularly wide and deep range of relationships beyond the Treasury including the Office for Budget Responsibility, Bank of England, and the Office for National Statistics. Delivering these objectives requires a range of skills and backgrounds, and we are proud of our diversity as a Group.About the TeamBalance Sheet TeamThe Balance Sheet Team leads work to improve analysis, policy, and risk management across trillions of pounds of assets and liabilities owned by government. It also leads on policy advice for new balance sheet interventions such as guarantees, loans and equity transactions. This is an innovative area for fiscal policy and central to the Treasurys role as a finance and economics ministry. We draw on a diverse network, including international institutions, colleagues across Treasury and departments, utilising expertise from across the public sector.The team (composed of about 12 people) is split into four branches:Frameworks, Assets and MetricsFinancial Assets and TransactionsContingent and Implicit LiabilitiesBalance Sheet ManagementThe importance of our work has been underlined by an increasing focus on the balance sheet in fiscal policy and the growing use of balance sheet interventions, such as during the Covid-19 pandemic and energy price shock. Over the past year, the team have led work to support the decision by the Chancellor to target a broader measure of debt in the fiscal rules, developed a new framework for managing financial investments published at Budget, and have been part of various major policy decisions from the financing of Sizewell C nuclear power station to the governments fiscal support for Ukraine.We are passionate about helping our people thrive, by building an encouraging and friendly team. We champion diversity and team members work flexible working patterns. The team is home to staff based in each of our Darlington and London offices, and we work together to provide a supportive and inclusive home in each location.About the JobEconomic growth is the central mission of the government. Well-directed public investment is a crucial driver of long-term growth, with the ability to catalyse private investment. A key policy tool in supporting this are financial transactions (loans and equity investments) that can be used to finance infrastructure, deliver clean energy projects, support housing development and facilitate business growth. These financial transactions are delivered by expert public financial institutions like the National Wealth Fund and the British Business Bank.At Autumn Budget 2024, the Chancellor of the Exchequer announced new fiscal rules that recognise the value of assets created by financial transactions, thereby providing greater scope for their use. Alongside, the Treasury published a strengthened control framework for financial transactions, to ensure government makes financial investments in a fiscally responsible way.The post holder will be joining the team that is developing the policy framework to implement these reforms. Their key responsibilities will include:Support the Treasurys policy thinking and help manage the approval process for large, new financial transaction proposals at fiscal events like the upcoming spending review. This will involve understanding the financial and policy impacts of proposals across a wide range of areas such as decarbonisation, education funding and affordable housing, considering benefits and risks, and supporting ministerial advice on whether to proceed with policies.Lead policy development for specific aspects of the Financial Transaction Control Framework, such as a new annual publication to set out the value and performance of all governments financial assets. This will involve building expertise on financial transactions and advising teams within Treasury and departments on implementation of the framework.Support the design and implementation of reforms to the management of governments public financial institutions to ensure the Treasury can balance their financial risk, economic policy impact and return for the taxpayer. This will provide a fascinating insight into how investment institutions operate and involvement in major structural reforms, such as the establishment of the new National Wealth Fund.This is a rapidly developing area of work that provides opportunity for exposure to many different policy areas, so the post-holder will be able to shape the role to their interests and development priorities.Candidate Drop-In Session Microsoft Teams The hiring manager will be running a candidate drop-in session for this role to give you greater insight about the role as well as the chance to learn more about HM Treasury and ask any questions you may have. If you would like to join us, then use the link below to join the call at the right time. Tuesday 7th January 2025 @ 17:00 - 17:30 Join the meeting nowIf 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]