KNOWLEDGEBASE

What is Her Majesty Treasury?

Her Majesty Treasury (HMT) is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth. A part of Her Majesty Treasury is OFSI as in The Office of Financial Sanctions Implementation that enforces sanctions and ensures that they are carried out correctly.

HMT is responsible for:

  • public spending: including departmental spending, public sector pay and pension, annually managed expenditure (AME) and welfare policy, and capital investment
  • financial services policy: including banking and financial services regulation, financial stability, and ensuring competitiveness in the City
  • strategic oversight of the UK tax system: including direct, indirect, business, property, personal tax, and corporation tax
  • the delivery of infrastructure projects across the public sector and facilitating private sector investment into UK infrastructure
  • ensuring the economy is growing sustainably