Mel Stride unveiled as new Treasury Select Committee chair
Former Treasury minister Mel Stride has been named as the new chair of the Treasury Select Committee.
Stride, the MP for Central Devon, won 263 votes in the race to replace former chair Nicky Morgan, who left the post after she returned to government as culture secretary.
The appointment was delayed after Prime Minister Boris Johnson prorogued parliament not long after summer recess had ended.
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Speaking after the results of the race, Stride said: “At a time of great sound and fury in this chamber I hope that our committee can now bring forward some illumination and light.”
Speaker John Bercow told the House of Commons that Stride was “every inch the public servant”.
As part of his campaign to become chair, Stride has vowed to look at issues including regional imbalances in the UK economy, business rates on retailers and fair banking.
The MP has also highlighted potential taxes on internet platform-based businesses as other areas for considerations
Stride beat Kevin Hollinrake, Mark Garnier and Harriett Baldwin in the election for the influential position.
In his pitch to become chair, Stride told Politics Home: “I took 3 finance bills and the customs bill through the House. I understand the Treasury – how it consults, reaches decisions and translates them into legislation and action. That knowledge will be invaluable in leading the TSC to hold the department and Government fully to account and without fear or favour.”
During her time at the helm, Morgan pushed hard on personal finance matters, as well as the scandal surrounding RBS’ small business unit the Global Restructuring Group.
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As part of Morgan’s pressure, documents were published that revealed staff at the unit were even sent a memo titled “Just Hit Budget” listing various ways to generate income from businesses.
In a section headed “Rope” the memo said: “Sometimes you need to let customers hang themselves. You have then gained their trust and they know what’s coming when they fail to deliver.”
More to follow.
Main image: Getty