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Treasury back in control

The Treasury is to take more control of retail financial services

policy after a reorganisation of Government departmental

responsibility following the departure of senior civil servant Paula

Diggle from the Inland Revenue.

Since Diggle&#39s secondment to the Revenue in 2001, responsibility for

policy making in the industry has been divided, with Diggle retaining

an active role.

Now that she has left, industry sources suggest that responsibility

will revert back to the Treasury. Paul Kirkman is responsible for the

savings & investments team while Peter Betts is responsible for

pension policy. The new structure means those in the industry will

have a single place to concentrate their lobbying.

Treasury financial secretary Ruth Kelly continues her responsibility

for the industry although until her return from maternity leave,

economic secretary John Healey will have control.

A political consultant says: “It&#39s going to be helpful for all to

have clarity. It is no surprise to see the Treasury take greater

control.”

The Treasury and the Revenue would not comment.

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