News that the UK's new coalition government is turning to a top clothing executive to advise on its spending review speaks volumes for both Sir Philip Green and the clothing industry.

While the downturn claimed its fair share of fashion victims in the UK, the clothing sector has led retail sales towards recovery of late.

Clothing has outstripped other categories in sales growth recently, even during a tough July for the UK. High street retailers like Next have since issued warnings on rising sourcing costs and an imminent VAT increase, but are approaching the latest double dip threat with appropriate caution.

And it is this kind of caution that Prime Minister David Cameron is executing with projected cost cutting measures.

Cameron has enlisted Sir Philip in the hope that his expertise, garnered through the development of Arcadia Group chains Topshop, Wallis and Bhs, will point his government in the right direction.

Sir Philip began importing clothes to the UK as a teenager, and is now one of the country's richest businessmen. His hands-on approach almost saw him acquire the UK's largest clothing retailer, Marks and Spencer (M&S), in 2004, but he has instead focused on Arcadia brands, including the global launch of Topshop.

It will be this kind of entrepreneurial spirit that the new government will hope to infiltrate into British society.

However, the primary task is to review what is actually being spent, and where efficiencies can be made. This is where Sir Philip, as a private investor, is a far from obvious appointment.

As a government statement concedes though, his remit is to "scrutinise government spending in the last three years to identify inefficiencies and potential savings, and to look at where lessons can be learned for the future". They are hoping to learn from his commercial experience and track record at managing large organisations.

Therefore, those experienced in weathering a recession, and becoming leaner in the process, could play an integral part in future political strategy.