Throughout the Coronavirus pandemic, the level of public spending in the UK has seen a boost unexampled in recent memory. Many are now arguing that a more effective approach to public finances is needed. An approach which ensures that public funds are spent sensibly with optimal value for the taxpayer in mind.

Simon Clarke, Chief Secretary to the Treasury and MP for Middlesbrough South and East Cleveland, spoke at the Institute of Economic Affairs about a ‘quiet revolution’ within the Treasury pushing for the above strategy. Simon asserts that it is vital that government facilitates the economic conditions necessary for innovation and guarantees that taxpayers’ money is spent as wisely as possible.