Why does Kemi Badenoch want to break up the Treasury?

Conservative leadership elections aren’t usually associated with big policy ideas. But last week Kemi Badenoch put forward a proposal that could revolutionise the way the British state works. She suggested we should break up the most powerful government department, the Treasury. Others also think there’s a problem; Penny Mordaunt’s book Greater: Britain After The Storm suggests ‘decentralising’ and ‘localising’ Britain’s finance ministry.