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- Tasks: Conduct economic research and analysis to shape impactful tax policies.
- Company: Join HM Treasury, a key player in UK economic policy-making.
- Benefits: Enjoy flexible working hours, generous leave, and a strong pension scheme.
- Other info: Collaborative team environment with opportunities for professional growth.
- Why this job: Make a real difference in shaping the UK's tax system and economic future.
- Qualifications: Strong analytical skills and ability to communicate complex ideas simply.
The predicted salary is between 29800 - 35000 £ per year.
Salary: National: £34,820 - £40,000. If the successful candidate is a current Civil Servant joining on level transfer, HM Treasury will honour their current substantive salary if higher.
Contract Type: Permanent
Working Pattern: This post is available on a full time, part time or job share basis, and flexible working hours can be accommodated.
Location: Darlington (Feethams House)
We are recruiting an Assistant Economist to join the Personal Tax, Welfare and Pensions team. This is an exciting role with analysis having a direct impact on policy work.
About the Team
The Personal Tax team covers a very broad range of exciting policies with sustained ministerial, parliamentary and media interest. The team leads on core elements of the UK tax system, including income tax, National Insurance contributions and inheritance tax, and plays a critical role in shaping policy at fiscal events. The Personal Tax team is responsible for income tax, National Insurance contributions (NICs), the apprenticeship levy, inheritance tax and other aspects of the personal tax system. Total personal tax receipts exceed £400bn, so our policies are fundamental in fiscal and economic importance to the Treasury and of significant interest to the Chancellor and other ministers. For example, over the past few years the team’s work has included changes to employer and employee National Insurance contributions rates and thresholds, changes to the taxation of non-UK domiciled individuals, changes to inheritance tax and more. We are a collaborative and open team. We work with other teams on the impact of tax policy on the labour market, economic growth, and on the interaction of tax with welfare and pensions.
About the Job
The postholder is one of a few economists embedded in the tax teams, and working on crosscutting projects. You will have the opportunity to work side-by-side with policy professionals to ensure that economic theory and analysis is embedded in their policy work, and that real time data (notably tax receipts) is understood and incorporated into their work.
The key responsibilities of the post-holder will be:
- Conducting economic research, modelling and analysis for leads and ministers. These will encompass longer term research projects and rapid modelling to support policy making. Previous examples have included work on the differential between income and capital gains tax, wealth tax and pensions tax.
- Working with teams across HMT at Budgets to provide data and analysis that informs policy decisions and is then used appropriately when those policies are announced.
- Use economic analysis to understand likely behavioural response to our announcements.
- Maintaining and improving the modelling capability of the branch.
- Monitoring and analysis of personal tax receipts, ensure regular updates are provided to seniors and ensuring policies teams fully understand movements in the data.
- Identify and analyse the potential fiscal impacts of trends and behaviours e.g. the changing nature of the labour market to help shape policy development in both the short and medium term.
- Working in close collaboration with HMRC (especially the Knowledge, Analysis and Intelligence team), specialists across the Department and external partners; building effective relationships in multiple teams and at various grades.
- Work flexibly across team to support urgent priorities as they emerge.
We encourage applications from candidates who may have less experience in some of the required criteria but are curious and willing to develop their understanding. Training and support can be provided on-the-job.
Leading on managing the student loan book. Given the scale of the loan book, it is vital that HM Treasury maintains effective control over spending across England and the Devolved Administrations. Through the bi‑annual Estimates process, you will work closely with DfE and other HM Treasury teams to use analysis to set targets - such as the level of student loan debt that can be written off - to support effective monitoring of this spending. You will also lead on providing advice to senior officials and ministers on novel, contentious, repercussive, or otherwise complex spending issues that require HM Treasury approval.
Helping to implement DfE’s Spending Review settlement and the Post-16 Skills White Paper. The role involves working with DfE to determine the level and distribution of Strategic Priorities Grant funding, balancing competing objectives and managing complex trade‑offs. You will help develop policy interventions to address financial sustainability risks, providing clear advice that reflects ministerial priorities. The Post‑16 Skills White Paper introduced a wide range of ambitious measures, including changes to tuition fees and action to address poor‑quality provision, aimed at placing the sector on a more sustainable footing. This role will oversee the effective and fiscally responsible implementation of these reforms, working closely with DfE, legislative teams and colleagues across HMT to ensure coherent delivery aligned with departmental priorities.
Devising a Higher Education Strategy for the next spending review. Working with colleagues across HMT and DfE to develop a strategy for the next Spending Review on Higher Education. This will include addressing key questions such as how to encourage a subject mix that best supports economic growth, and how to strengthen the long‑term financial sustainability of universities.
About You
We are looking for people who have the ability to synthesise a wide range of evidence to inform decision-making, demonstrating excellent judgement. You will also have excellent communication skills and be able to explain economic concepts or data to a non-expert audience, quickly and effectively. You will also have the ability to work across multiple priorities, effectively managing time and ensuring successful outcomes.
Some of the Benefits our people love!
- 25 days annual leave (rising to 30 after 5 years), plus 8 public holidays and the King’s birthday (unless you have a legacy arrangement as an existing Civil Servant).
- Additionally, we operate flexitime systems, allowing employees to take up to an additional 2 days off each month.
- Flexible working patterns (part-time, job-share, condensed hours).
- Generous parental and adoption leave packages.
- Access to a generous Defined Benefit pension scheme with employer contributions of 28%.
- Access to a cycle-to-work salary sacrifice scheme and season ticket advances.
- A range of active staff networks, based around interests (e.g. analysts, music society, sports and social club) and diversity.
For more information about the role and how to apply, please follow the apply link.
Assistant Economist employer: HM TREASURY-1
Contact Detail:
HM TREASURY-1 Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Assistant Economist
✨Tip Number 1
Network like a pro! Reach out to current or former employees in the Personal Tax, Welfare and Pensions team. A friendly chat can give us insider info on what they value in candidates and might even lead to a referral.
✨Tip Number 2
Prepare for the interview by brushing up on recent tax policies and economic trends. We want to show that we’re not just passionate about economics but also clued up on how it impacts real-world decisions at HM Treasury.
✨Tip Number 3
Practice our communication skills! We need to be able to explain complex economic concepts in simple terms. Try explaining a recent policy change to a friend who knows nothing about economics – it’s a great way to sharpen our skills.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure our application gets seen by the right people. Plus, we can keep track of our application status easily.
We think you need these skills to ace Assistant Economist
Some tips for your application 🫡
Tailor Your Application: Make sure to customise your application to highlight how your skills and experiences align with the Assistant Economist role. We want to see how you can contribute to our Personal Tax, Welfare and Pensions team!
Showcase Your Analytical Skills: Since this role involves a lot of economic research and analysis, be sure to include examples of your analytical work. We love seeing how you've used data to inform decisions or shape policy in the past.
Keep It Clear and Concise: When writing your application, clarity is key! Use straightforward language to explain your experiences and avoid jargon. Remember, we want to understand your journey without getting lost in complex terms.
Apply Through Our Website: Don’t forget to submit your application through our website! It’s the best way for us to receive your details and ensures you’re considered for the role. We can’t wait to hear from you!
How to prepare for a job interview at HM TREASURY-1
✨Know Your Economics
Brush up on key economic concepts and current trends, especially those related to personal tax, welfare, and pensions. Be ready to discuss how these concepts apply to real-world scenarios, as this will show your understanding of the role's impact on policy.
✨Showcase Your Analytical Skills
Prepare examples of past projects where you've conducted economic research or analysis. Highlight your ability to synthesise data and draw meaningful conclusions, as this is crucial for the Assistant Economist position.
✨Communicate Clearly
Practice explaining complex economic ideas in simple terms. The interviewers will want to see that you can communicate effectively with non-experts, so think about how you would present your findings to a diverse audience.
✨Demonstrate Collaboration
Be ready to discuss your experience working in teams and how you’ve built relationships across different departments. This role requires collaboration with various teams, so showing that you can work well with others will be a big plus.