The Treasury is planning to cut staff numbers by a quarter as the Chancellor George Osborne seeks to roll back his department in line with sweeping cuts across the board.
He wants to reduce Treasury staff members from 1350 to 1000 within the next four years.
The Treasury will also scale back the financial services function amidst the belief that the crisis management period is over in the banking crisis.
‘We are going to focus on our core responsibilities as an economics and finance ministry’ said a Treasury spokesman. ‘That means a focus in more spending control and macro analysis.’
Mr Osborne also wants to speed up the comprehensive spending review, which is seeking cuts of 25 to 40 percent for most departments.
Treasury staff will be asked to sit at smaller desks which will be closer together in order to squeeze more civil servants into a smaller space.