“We welcome the appointment of the new Cabinet and wish ministers well as they get to grips with their portfolios. We look forward to establishing a constructive working relationship with the new Communities Secretary Robert Jenrick, and thank the outgoing Secretary of State James Brokenshire for his dedication to public services.
“Last night’s appointments represent a change of direction from the new government, with a new level of certainty on their stated Brexit policy. While businesses will welcome certainty, they have also expressed severe doubts regarding a no-deal Brexit.
“A no-deal scenario could impact on the tax yield that funds public services, which are already under substantial pressure from rising demographic demand, and so we would advise against damaging business and local economies.
“Government appears set for more spending and borrowing. We urge all departments and HMT to focus on medium term risks and liabilities and not just the short term - not least tackling the UK’s sluggish productivity that holds back growth.”
CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. CIPFA shows the way in public finance globally, standing up for sound public financial management and good governance around the world as the leading commentator on managing and accounting for public money.
For further information please contact the CIPFA press office on 020 7543 5737 or email firstname.lastname@example.org.