#treasury

#treasury

CFOs should be paying attention to stablecoins this year, even if they're not quite ready to use them yet. Stablecoins are digital assets designed to maintain a stable value, typically pegged to and backed by the U.S. dollar or equivalent assets. Passage of the GENIUS Act has helped clarify how stablecoins are regulated, pushing them from a "crypto side-topic" into mainstream treasury and finance discussions.

The chancellor's decision is a setback for the health secretary, who had been lobbying behind the scenes in Whitehall for extra money to pay off 18,000 personnel who are losing their jobs. The Treasury has instead allowed the Department of Health and Social Care (DHSC) to overspend its allotted budget by about 1bn this financial year. But this is on the understanding that it will have less money in 2026-27 and no new cash overall. Streeting had spent months trying to persuade the Treasury to grant additional funding to enable the NHS's 42 integrated care boards to start slimming down their role.

"This came as a huge shock," one executive said. "If the reforms are implemented as drafted, it will push costs beyond what is viable for many projects."