UK Treasury Shakes Up Strategy: Sir Charlie Mayfield, Ex-John Lewis Chair, Brought In to Supercharge Business Leadership

Whitehall taps retail heavyweight in desperate bid for corporate credibility.

The UK Treasury just drafted a knighted department store boss—because nothing says 'financial innovation' like a guy who made his name selling tea towels and flat-pack furniture.

Sir Charlie Mayfield—the former John Lewis chair who presided over the retailer's infamous 'never knowingly undersold' era—now gets to apply his middle-class magic to Her Majesty's coffers. Because if there's one thing Britain's economy needs right now, it's more artisanal jam and overpriced sofas.

Key move: Mayfield's appointment signals the Treasury's latest attempt to cosplay as business-savvy. Previous episodes featured disastrous flirtations with fintech and that time they accidentally legalized crypto scams for 11 minutes.

Bottom line: When your national currency's inflation outpaces John Lewis' Christmas pricing, you hire a man who understands markup. Genius—or another Whitehall pantomime?

Mayfield aims to repair strained business relations

Sir Charlie Mayfield steps into the role with a long track record in leadership and policy. He spent over 20 years in the private sector, including over a decade leading the John Lewis Partnership through one of the most challenging retail periods in history. His tenure was marked by efforts to modernise the business, adapt to online competition, and maintain the company’s employee-ownership model.

In addition, Mayfield chaired the UK Commission for Employment and Skills, where he worked on bridging skills gaps and improving workforce productivity across industries. Combining corporate leadership with policy insight, this background is crucial to the Treasury’s current needs.

His main task will be to rebuild trust between the government and the business community. Those ties have come under strain since Labour came to power, despite early signs of cooperation.

Rachel Reeves, as Chancellor, initially won praise from corporate leaders for her pro-business tone after Labour’s election victory 13 months ago. However, the relationship cooled as key policies began to bite.

One flashpoint was last October’s Budget, which introduced a £25 billion national insurance bill for employers. Business groups warned the move WOULD raise costs, deter recruitment, and slow investment. For many in the private sector, the measure signalled a return to heavier taxation when companies were still recovering from pandemic disruptions and supply chain pressures.

Mayfield’s appointment is seen as a signal that the Treasury is listening to these concerns. His role will involve advising on economic policy and acting as a bridge, encouraging open dialogue, addressing friction points, and helping shape measures that balance fiscal responsibility with business growth.

Reeves has made clear she wants Mayfield to act as both a sounding board for business sentiment and a strategic thinker, capable of guiding the Treasury through the delicate task of keeping economic plans on track without alienating key industries.

Twiddy and Scott to boost innovation and communication

Edward Twiddy co-founded ATOM Bank in 2014 after 13 years as a Treasury civil servant. He is expected to focus on “enterprise and innovation,” especially in financial technology. Reeves has been pressing regulators to speed up support for fintech and other fast-growing sectors in the City of London.

Jenny Scott will advise the Treasury on improving how it explains its policies. She currently runs Apella Advisors, a strategic communications firm.

Her experience includes guiding the Bank of England’s communications during the global financial crisis and the 2016 Brexit referendum.

Reeves recently ordered a review of the Treasury’s communications strategy, signalling she wants the department to speak more clearly to the public and the markets. The appointments mark a push to blend government policy with real-world business and financial experience.

Mayfield, Twiddy, and Scott will be under pressure to help shape policies that promote growth, restore trust, and give the public a clearer picture of the Treasury’s economic plans.

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