Donald Trump Picks Elon Musk For New Cost-Cutting Role

 

US President-elect Donald Trump has picked Elon Musk for a role in government cost-cutting, as part of his drive to "dismantle" bureaucracy when he returns to the White House next year.

Tech billionaire Musk, who has called for huge spending cuts, has been picked alongside biotech investor Vivek Ramaswamy to lead a new "Department of Government Efficiency" (Doge). The acronym is a nod to Musk's favourite cryptocurrency, Dogecoin.

It remains to be seen how the Doge will operate.

The organisation does not currently exist and, when created, it is not expected to be an official department. Such agencies have to be established through an act of Congress and typically employ thousands of staff.

In Tuesday night’s announcement, Trump acknowledged that it will "provide advice and guidance from outside of government". He said the initiative would help his administration "dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures and restructure federal agencies".

He said Musk and Ramaswamy would work with the White House and Office of Management & Budget to tackle "massive waste and fraud" in $6.5tn (£5.1tn) of annual government spending.

- Author: Ana Faguy and James FitzGerald, BBC