{
  "id": 9495423,
  "title": "Treasury’s new Head of Growth will have their work cut out",
  "url": "https://urgent.news/2026/09/24/treasurys-new-head-of-growth-will-have-their-work-cut-out",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T04:25:00.000Z",
  "source": {
    "name": "City AM",
    "slug": "city-am",
    "url": "https://www.cityam.com/treasurys-new-head-of-growth-will-have-their-work-cut-out/"
  },
  "original_language": "en",
  "account": "The Organisation for Economic Co-operation and Development (OECD) has lowered its forecast for UK economic growth from 0.9 per cent to 1.1 per cent this year. However, they have also reduced their projection for 2027 from 1.1 per cent to just 1 per cent. Inflation is expected to peak at 3.1 per cent this year, up from an earlier estimate of 3.7 per cent, but the Bank of England anticipates it will continue to rise, reaching 4 per cent by early 2027. While it's possible that growth is better than predicted and inflation may be lower than expected, don't get your hopes up. Private sector activity has slowed, and consumer confidence is dipping. With rising fuel prices and energy costs expected to surge in 2027, even a couple of interest rate hikes will result in higher mortgage payments as other expenses begin to appear. Furthermore, there's the upcoming Budget, likely to see tax increases (once more) to maintain John Healey's adherence to his \"iron clad\" fiscal rules. A mix of domestic policy blunders and international conflict suggests that next year may be marked by stagflation. So, can the Treasury come to the rescue? They are hiring a new head for the Growth Strategy Unit, tasked with \"shaping and driving the UK’s growth agenda.\" The position promises a \"fun and fast-paced\" atmosphere in a \"high-performing department,\" involving extensive \"strategic, two-way stakeholder engagement\" and \"working in partnership.\" Applicants must demonstrate a \"clear commitment to promoting diversity, inclusion and belonging\" for a salary of £86K, with a 29 per cent employer pension contribution. The Treasury claims to operate a \"office-based working approach,\" allowing for remote work on Mondays and Fridays. The Growth Strategy Unit collaborates with teams across various departments, possibly even in Newcastle. While I remain skeptical, having been reporting on our underperforming economy for too long, I won't be surprised if this new bureaucrat's appointment doesn't raise too many expectations.",
  "summary": "Do you want the good news or the bad news? Trick question, I’m afraid. There is no good news. The Organisation for Economic Co-operation and Development (OECD) has revised its forecast for UK economic growth this year from 0.9 per cent to 1.1 per cent, but – before you reach for the champagne – they’ve [...]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}