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The Chancellor has asked the Cabinet Secretary to begin the recruitment process for a new Permanent Secretary to the Treasury to succeed Tom Scholar, who has left his post as Permanent Secretary after 6 years, and will leave the Civil Service after 30 years of dedicated service.

During his time in the Civil Service, Tom has advised successive Prime Ministers and Chancellors on international and economic issues, served as the UK representative at the International Monetary Fund and the World Bank, played a leading role in dealing with the banking crisis of 2007 to 2009, and led the Treasury through the Covid pandemic.

Chancellor of the Exchequer, Kwasi Kwarteng, yesterday said:

“Tom has been a dedicated and exceptional civil servant and I thank him for his exemplary service to the Government and the country for the past 30 years.

“He’s helped steer the Treasury and the Government through many economic challenges, from the financial crisis to the Covid pandemic, and he leaves the Civil Service with the highest distinction.”

The Cabinet Secretary, Simon Case, yesterday said:

“Both personally, and on behalf of the whole civil service, I would like to thank Tom for his remarkable public service and leadership.

“Tom has been a steadfast and loyal colleague to so many of us - and we will be forever grateful for his wise advice, generosity, humour and decency.”

Tom Scholar yesterday said:

“The Chancellor decided it was time for new leadership at the Treasury, and so I will be leaving with immediate effect.

“It has been the privilege of my career to lead this great institution since 2016. I wish the Treasury all the best for the times ahead, and I will be cheering on from the sidelines.”

A successor will be appointed shortly. In the interim, Beth Russell (Director General Tax and Welfare) and Cat Little (Director General, Public Spending) will lead the department as Acting Permanent Secretaries.