Reeves appoints senior business leaders as finance committee – but small and medium-sized businesses demand their own voice
Prime Minister Rachel Reeves has appointed three high-profile business figures to the Treasury board — but the move has drawn criticism from small and medium-sized business leaders who say the government has failed to include voices with direct small business experience.
Starting in September, Sir Charlie Mayfield, the former chairman of the John Lewis partnership, will join the board with fintech entrepreneur Edward Twiddy and communications expert Jenny Scott, each serving for three years.
The Treasury said the appointment is intended to bring new insights, improve operational efficiency and help the department support its economic growth “first mission.”
“They bring a wealth of experience and new thinking among them,” Reeves said. “Their insights will be invaluable because we focus on developing the economy to make workers a part of the change plan.”
Newly appointed person
- Sir Charlie Mayfield – Former John Lewis Partner Chairman, with over 20 years of private sector experience and chair of the UK Employment and Skills Committee for 7 years. Known for transformational leadership in talent development and technical leadership.
- Edward Twiddy – Co-founder of Newcastle-based Northstar Ventures and Atom Bank. I spent 13 years with the Ministry of Finance before entering venture capital and fintech.
- Jenny Scott – Co-founder of Apella Advisors and former senior communications director at the Bank of England. Previously he was an economics correspondent and host of the political program for the BBC.
SME Leaders: “Missing Tips”
While dating is welcome and it is a step towards close interaction with businesses, SME leaders are frustrated that no one in the small business community is included.
Mary Maguire, managing director of Derby-based Attute Recruitment, said the company’s leaders “don’t understand the cash flow nightmare faced by SMEs, startups and exclusive traders.” “Let’s have some voice in the Treasury in SME UK, and they actually understand SMEs and can give them the voice they deserve.”
Michelle Lawson, director of Fareham-based Lawson Financial, questioned the timing: “This announcement is an announcement and the Prime Minister finally realized that she and many other senior cabinet members have no business experience? … It may be too late to fix the losses already caused.”
Some commentators viewed the move as a positive step, but emphasized the need for follow-up. “Hopefully there is some voice on board that will lead to a stronger decision…Reeves needs to stop talking about the change plan and actually start implementing it,” said Samuel Mather-Holgate, an independent financial adviser for Mather and Murray Financial.
Rowley Turton’s director Scott Gallacher welcomed Mayfield and Twiddy’s experience but questioned Scott’s appointment: “Her background is primarily in communications between the BBC and the Bank of England and the Bank of England, rather than running a business. Another external business leader may add more balanced and stronger SME perspectives.”
Richard Alvin, managing director of the CBM Group Group, formerly a publisher of capital business media, business affairs, and a former consultant for SMEs, Richard Alvin, a former SME consultant for David Cameron’s administration, said with the call for SMEs: “Reeves’ proposal will stand out from Mayfield, Twiddy and Scott, which are large in scope compared to them, and these companies are in detail. The turnover of less than £20 million is actually £10 million and £2 million in demand for those larger companies because it really doesn’t fit the “business”, which really doesn’t fit the needs of everyone, if Reeves thinks it’s part of the current government problem.”
