Treasury Select Committee

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The House of Commons Treasury Committee (often referred to as the Treasury Select Committee) is a select committee of the House of Commons in the Parliament of the United Kingdom. The committee is responsible for examining and scrutinizing the expenditure, administration and policy of HM Treasury. This includes its agencies and associated bodies, including HM Revenue and Customs, the Bank of England, the Prudential Regulation Authority, the Financial Conduct Authority, and the Royal Mint.

Contents

The current chair of the Treasury Select Committee is Harriett Baldwin MP, a Conservative. The position of chair is considered influential, as the holder of the office can scrutinize figures including the Chancellor of the Exchequer, the Governor of the Bank of England, as well as bank executives. [1]

History

The select committee was established in 1979 as the Treasury and Civil Service Committee. [2] Since 2010, the Treasury Committee has taken on new powers, including the right to veto appointments to the independent Office for Budget Responsibility, and has forced the Financial Services Authority to publish a detailed report into its handling of the collapse of Royal Bank of Scotland. [3]

The select committee has been described as an influential one within British politics. [4] [5] [1] In 2016, the committee was described as among the three most powerful select committees in the House of Commons, along with the Public Accounts Committee and the Culture, Media and Sport Committee. [6]

Activities

Valuation Office Agency (VOA) Inquiry

On 1 February 2019, the Treasury Committee launched an inquiry looking into the impact of business rates and any unfairness in the system of rateable valuation operated by the Valuation Office Agency (VOA). The inquiry heard evidence from many businesses and trade organisations. [7] The findings of this inquiry outlined that the service was broken and public confidence had been eroded. In its reply to the inquiry, February 2020, the Government promised to make changes to business rates as part of a fundamental review of the VOA. [8]

Current membership

Membership of the committee is as follows: [9]

MemberPartyConstituency
Meg Hillier MP (Chair) Labour Hackney South and Shoreditch
Harriett Baldwin MP Conservative West Worcestershire
Rachel Blake MP Labour Cities of London and Westminster
Chris Coghlan MP Liberal Democrats Dorking and Horley
Bobby Dean MP Liberal Democrats Carshalton and Wallington
John Glen MP Conservative Salisbury
Siobhain McDonagh MP Labour Mitcham and Morden
Lola McEvoy MP Labour Darlington
Lucy Rigby MP Labour Northampton North
Jeevun Sandher MP Labour Loughborough
Yuan Yang MP Labour Earley and Woodley

2019-2024 Parliament

As of March 2024, the members of the committee was as follows: [10] [11] [12]

MemberPartyConstituency
Harriett Baldwin MP (Chair) Conservative West Worcestershire
John Baron MP Conservative Basildon and Billericay
Thérèse Coffey MP Conservative Suffolk Coastal
Samantha Dixon MP Labour City of Chester
Angela Eagle MP Labour Wallasey
Stephen Hammond MP Conservative Wimbledon
Drew Hendry MP Scottish National Party Inverness, Nairn, Badenoch and Strathspey
Danny Kruger MP Conservative Devizes
Keir Mather MP Labour Selby and Ainsty
Siobhain McDonagh MP Labour Mitcham and Morden
Anne Marie Morris MP Conservative Newton Abbot

Changes since 2019

DateOutgoing member
and party		Constituency→New member
and party		ConstituencySource
11 May 2020 Liz Kendall MP (Labour)Leicester West→ Mike Hill MP (Labour) Hartlepool Hansard
Alison McGovern MP (Labour) Wirral South Siobhain McDonagh MP (Labour) Mitcham and Morden
16 March 2021 Mike Hill MP (Labour) Hartlepool →VacantResignation of member from Parliament [13]
20 April 2021Vacant→ Emma Hardy MP (Labour) Kingston upon Hull West and Hessle Hansard
19 October 2021 Steve Baker MP (Conservative) Wycombe → Gareth Davies MP (Conservative) Grantham and Stamford Hansard
14 December 2021 Felicity Buchan MP (Conservative) Kensington → Kevin Hollinrake MP (Conservative) Thirsk and Malton Hansard
26 October 2022 Mel Stride MP (Chair, Conservative) Central Devon →Vacant Hansard
9 November 2022 Harriett Baldwin MP (Conservative) West Worcestershire →Vacant Hansard
Vacant→ Harriett Baldwin MP (Chair, Conservative) West Worcestershire
21 November 2022Vacant→ John Baron MP (Conservative) Basildon and Billericay Hansard
Gareth Davies MP (Conservative) Grantham and Stamford Danny Kruger MP (Conservative) Devizes
Kevin Hollinrake MP (Conservative) Thirsk and Malton Andrea Leadsom MP (Conservative) South Northamptonshire
Julie Marson MP (Conservative) Hertford and Stortford Anne Marie Morris MP (Conservative) Newton Abbot
16 January 2023 Alison Thewliss MP (SNP) Glasgow Central → Douglas Chapman MP (SNP) Dunfermline and West Fife Hansard
26 June 2023 Anthony Browne MP (Conservative) South Cambridgeshire → James Duddridge MP (Conservative) Rochford and Southend East Hansard
12 September 2023 Douglas Chapman MP (SNP) Dunfermline and West Fife → Drew Hendry MP (SNP) Inverness, Nairn, Badenoch and Strathspey Hansard
20 November 2023 Rushanara Ali MP (Labour) Bethnal Green and Bow → Keir Mather MP (Labour) Selby and Ainsty Hansard
11 December 2023Sir James Duddridge MP (Conservative) Rochford and Southend East → Thérèse Coffey MP (Conservative) Suffolk Coastal Hansard
Dame Andrea Leadsom MP (Conservative) South Northamptonshire Stephen Hammond MP (Conservative) Wimbledon
11 March 2024 Emma Hardy MP (Labour) Kingston upon Hull West and Hessle → Samantha Dixon MP (Labour) City of Chester Hansard

Past membership lists

2017–2019 Parliament

The chair was elected on 12 July 2017, with the members of the committee being announced on 11 September 2017. [14] [15]

MemberPartyConstituency
Nicky Morgan MP (Chair) Conservative Loughborough
Rushanara Ali MP Labour Bethnal Green and Bow
Charlie Elphicke MP Conservative Dover
Stephen Hammond MP Conservative Wimbledon
Stewart Hosie MP Scottish National Party Dundee East
Alister Jack MP Conservative Dumfries and Galloway
Kit Malthouse MP Conservative North West Hampshire
Alison McGovern MP Labour and Co-op Wirral South
Catherine McKinnell MP Labour Newcastle upon Tyne North
John Mann MP Labour Bassetlaw
Wes Streeting MP Labour Ilford North

Changes 2017–2019

DateOutgoing member
and party		Constituency→New member
and party		ConstituencySource
20 February 2018 Kit Malthouse MP (Conservative) North West Hampshire → Simon Clarke MP (Conservative) Middlesbrough South and East Cleveland Hansard
29 October 2018 Alister Jack MP (Conservative) Dumfries and Galloway → Colin Clark MP (Conservative) Gordon Hansard
3 December 2018 Stephen Hammond MP (Conservative) Wimbledon → Steve Baker MP (Conservative) Wycombe Hansard
10 June 2019 Stewart Hosie MP (SNP) Dundee East → Alison Thewliss MP (SNP) Glasgow Central Hansard
25 July 2019 Nicky Morgan MP (Conservative) Loughborough →Vacant Hansard
23 October 2019Vacant→ Mel Stride MP (Conservative) Central Devon Hansard

2015–2017 Parliament

The chair was elected on 18 June 2015, with members being announced on 8 July 2015. [16] [17]

MemberPartyConstituency
Andrew Tyrie MP (Chair) Conservative Chichester
Steve Baker MP Conservative Wycombe
Bill Esterson MP Labour Sefton Central
Mark Garnier MP Conservative Wyre Forest
Helen Goodman MP Labour and Co-op Bishop Auckland
Stephen Hammond MP Conservative Wimbledon
George Kerevan MP Scottish National Party East Lothian
John Mann MP Labour Bassetlaw
Chris Philp MP Conservative Croydon South
Jacob Rees-Mogg MP Conservative North East Somerset
Wes Streeting MP Labour Ilford North

Changes 2015–2017

DateOutgoing member
and party		Constituency→New member
and party		ConstituencySource
26 October 2015 Bill Esterson MP (Labour) Sefton Central → Rachel Reeves MP (Labour) Leeds West Hansard
31 October 2016 Mark Garnier MP (Conservative) Wyre Forest → Kit Malthouse MP (Conservative) North West Hampshire Hansard

2010–2015 Parliament

The chair was elected on 10 June 2010, with members being announced on 12 July 2010. [18] [19]

MemberPartyConstituency
Andrew Tyrie MP (Chair) Conservative Chichester
John Cryer MP Labour Leyton and Wanstead
Michael Fallon MP Conservative Sevenoaks
Mark Garnier MP Conservative Wyre Forest
Stewart Hosie MP Scottish National Party Dundee East
Andrea Leadsom MP Conservative South Northamptonshire
Andy Love MP Labour and Co-op Edmonton
John Mann MP Labour Bassetlaw
George Mudie MP Labour Leeds East
Jesse Norman MP Conservative Hereford and South Herefordshire
David Rutley MP Conservative Macclesfield
John Thurso MP Liberal Democrats Caithness, Sutherland and Easter Ross
Chuka Umunna MP Labour Streatham

Changes 2010–2015

DateOutgoing member
and party		Constituency→New member
and party		ConstituencySource
29 November 2010 David Rutley MP (Conservative) Macclesfield → David Ruffley MP (Conservative) Bury St Edmunds Hansard
4 July 2011 Chuka Umunna MP (Labour) Streatham → Tom Blenkinsop MP (Labour) Middlesbrough South and
East Cleveland 		Hansard
14 November 2011 Tom Blenkinsop MP (Labour) Middlesbrough South and
East Cleveland 		→ Pat McFadden MP (Labour) Wolverhampton South East Hansard
John Cryer MP (Labour) Leyton and Wanstead Teresa Pearce MP (Labour) Erith and Thamesmead
5 November 2012 Michael Fallon MP (Conservative) Sevenoaks → Brooks Newmark MP (Conservative) Braintree Hansard
12 May 2014 Andrea Leadsom MP (Conservative) South Northamptonshire → Steve Baker MP (Conservative) Wycombe Hansard
12 September 2014 Brooks Newmark MP (Conservative) Braintree → Alok Sharma MP (Conservative) Reading West Hansard
24 November 2014 Pat McFadden MP (Labour) Wolverhampton South East → Rushanara Ali MP (Labour) Bethnal Green and Bow Hansard
George Mudie MP (Labour) Leeds East Mike Kane MP (Labour) Wythenshawe and Sale East

List of chairs of the Treasury Select Committee

ChairPartyConstituencyFirst electedMethod
Mel Stride Conservative Central Devon 23 October 2019Elected by the House of Commons [20]
Nicky Morgan Conservative Loughborough 12 July 2017Elected by the House of Commons [21]
Andrew Tyrie Conservative Chichester 10 June 2010Elected by the House of Commons
John McFall Labour Co-op West Dunbartonshire
(Dumbarton 1987–2005)		18 July 2001Elected by the select committee [22]
Giles Radice Labour North Durham 17 July 1997Elected by the select committee

Election results

From June 2010 chairs of select committees have been directly elected by a secret ballot of the whole House of Commons using the alternative vote system. Candidates with the fewest votes are eliminated and their votes redistributed until one remaining candidate has more than half of valid votes. [23] Elections are held at the beginning of a parliament or in the event of a vacancy. [24]

29 January 2020 [25]
Candidate1st round
Votes %
Mel Stride Unopposed
Not redistributed
Valid votes
23 October 2019 [26]
CandidateFirst roundSecond round
Votes%Votes%
Mel Stride 23746.426352.1
Kevin Hollinrake 16632.517534.7
Harriett Baldwin 6212.16713.3
Mark Garnier 469.0Eliminated
Not redistributed61.2
Valid votes511505
12 July 2017 [27]
Candidate1st round2nd round3rd round4th round5th round
Votes %Votes %Votes %Votes %Votes %
Nicky Morgan 20035.120736.422740.525446.429056.2
Jacob Rees-Mogg 13623.914124.816028.617932.722643.8
Charlie Elphicke 7413.08214.49817.511420.8Eliminated
Richard Bacon 6511.47112.57513.4Eliminated
John Penrose 6311.16812.0Eliminated
Stephen Hammond 325.6Eliminated
Not redistributed10.2101.8234.0549.5
Valid votes570569560547516
17 June 2015 [28]
Candidate1st round
Votes %
Andrew Tyrie Unopposed
Not redistributed
Valid votes
9 June 2010 [29]
Candidate1st round
Votes %
Andrew Tyrie 35261.6
Michael Fallon 21938.4
Not redistributed
Valid votes571

See also

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References

  1. 1 2 Aldrick, Philip (27 August 2022). "Matt Hancock One of Six MPs Running for Treasury Committee Chair". Bloomberg News. Retrieved 17 January 2024.
  2. ↑ "Role - Treasury Committee". UK Parliament. Retrieved 16 January 2024.
  3. ↑ George Parker (26 January 2012). "Tyrie aims to bring 'Sun King' down to earth". FT.com. Archived from the original on 31 January 2012. Retrieved 5 May 2012.
  4. ↑ Mason, Rowena (7 July 2017). "Conservatives battle for chairmanship of powerful Treasury committee". The Guardian. ISSN   0261-3077 . Retrieved 17 January 2024.
  5. ↑ "The Guardian view on select committees: chairs of power". The Guardian. 12 July 2017. ISSN   0261-3077 . Retrieved 17 January 2024.
  6. ↑ Ford, James (30 March 2016). "The Three Most Influential Select Committees". PLMR. Retrieved 17 January 2024.
  7. ↑ "The impact of Business Rates on business inquiry". UK Parliament. 24 June 2019. Retrieved 16 January 2024.
  8. ↑ "Government response to Treasury Committee business rates inquiry". GOV.UK. 27 February 2020. Retrieved 17 January 2024.
  9. ↑ "Treasury Committee membership appointed". committees.parliament.uk. Treasury Committee. 29 October 2024. Retrieved 4 November 2024.
  10. ↑ "Treasury Committee - Membership Committee". UK Parliament. 6 July 2022. Archived from the original on 16 May 2022. Retrieved 6 July 2022.
  11. ↑ "Committees Volume 737: debated on Tuesday 12 September 2023". hansard.parliament.uk. UK Hansard. 12 September 2023. Retrieved 15 September 2023. That Douglas Chapman be discharged from the Treasury Committee and Drew Hendry be added.
  12. ↑ "Business without Debate Volume 742: debated on Monday 11 December 2023". hansard.parliament.uk. UK Hansard. 11 December 2023. Retrieved 17 December 2023. That Sir James Duddridge and Dame Andrea Leadsom be discharged from the Treasury Committee and Dr Thérèse Coffey and Stephen Hammond be added.—(Sir Bill Wiggin, on behalf of the Committee of Selection.)
  13. ↑ Allegretti, Aubrey; Elgot, Jessica; Halliday, Josh (16 March 2021). "Hartlepool Labour MP Mike Hill quits, triggering red wall byelection". The Guardian. Retrieved 16 July 2022.
  14. ↑ "Speaker's Statement: Select Committee Chairs". Parliamentary Debates (Hansard) . Vol. 627. Parliament of the United Kingdom: House of Commons. 12 July 2017.
  15. ↑ "Business without Debate". Parliamentary Debates (Hansard) . Vol. 628. Parliament of the United Kingdom: House of Commons. 11 September 2017.
  16. ↑ "Speaker's Statement". Parliamentary Debates (Hansard) . Vol. 597. Parliament of the United Kingdom: House of Commons. 18 June 2015.
  17. ↑ "Business without Debate". Parliamentary Debates (Hansard) . Vol. 598. Parliament of the United Kingdom: House of Commons. 8 July 2015.
  18. ↑ "Speaker's Statement". Parliamentary Debates (Hansard) . Vol. 511. Parliament of the United Kingdom: House of Commons. 10 June 2010.
  19. ↑ "Committees". Parliamentary Debates (Hansard) . Vol. 513. Parliament of the United Kingdom: House of Commons. 12 July 2010.
  20. ↑ "Ex-minister Mel Stride elected as head of Treasury committee". The Times. 24 October 2019. Archived from the original on 24 October 2019. Retrieved 24 October 2019.
  21. ↑ "Nicky Morgan to lead Treasury committee". BBC News. 12 July 2017. Archived from the original on 15 April 2019. Retrieved 15 April 2019.
  22. ↑ "House of Commons – Treasury – Second Special Report". publications.parliament.uk. Archived from the original on 15 April 2019. Retrieved 15 April 2019.
  23. ↑ "Standing Orders of the House of Commons". publications.parliament.uk. Archived from the original on 27 March 2019. Retrieved 15 April 2019.
  24. ↑ Priddy, Sarah (16 October 2018). "Chairs of Commons select committees since 2010". UK Parliament. Archived from the original on 6 April 2019. Retrieved 15 April 2019– via Research Briefings.{{cite journal}}: Cite journal requires |journal= (help)
  25. ↑ Treasury Select Committee (29 January 2020). "Committee Chair Election Results 2020" (PDF). House of Commons of the United Kingdom. Archived (PDF) from the original on 27 February 2020. Retrieved 7 March 2020.
  26. ↑ Treasury Select Committee (23 October 2019) "Treasury Committee Chair Election – Result Sheet" Archived 2019-11-11 at the Wayback Machine (PDF). House of Commons of the United Kingdom. Retrieved November 11, 2019.
  27. ↑ Treasury Select Committee (12 July 2017). "Committee Chair Election Results" (PDF). House of Commons of the United Kingdom 2017. Archived (PDF) from the original on 12 July 2017. Retrieved 15 April 2019.
  28. ↑ Treasury Select Committee (17 June 2015). "Committee Chair Election Results 2015" (PDF). House of Commons of the United Kingdom. Archived (PDF) from the original on 6 May 2016. Retrieved 15 April 2019.
  29. ↑ Treasury Select Committee (9 June 2010). "Committee Chair Election Results 2010" (PDF). House of Commons of the United Kingdom. Archived (PDF) from the original on 5 January 2020. Retrieved 15 April 2019.
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