Nicholas Macpherson, the Treasury’s permanent secretary,  has announced details of a new structure at the department.

Jon Cunliffe, the second permanent secretary, becomes managing director of a new international and finance directorate, bringing together European, international and financial sector teams. Under the plans the inance and industry directorate will be abolished. Cunliffe will also remain responsible for macro-economics in the Treasury. As before, Macpherson and Cunliffe will share responsibility for being the Treasury representative on the monetary policy committee.

And John Kingman has been named as managing director of a new public services and growth directorate. This will bring together all the Treasury’s work on public spending and services, public and private sector productivity, procurement and enterprise.

The reforms were prompted by the promotion of Jonathan Stephens, the former head of public services at the Treasury, to become permanent secretary of the Department for Culture, Media and Sport.