View more on these topics

Conservatives reveal Treasury committee members


The Conservatives have confirmed the five MPs who will represent the party on the influential Treasury committee.

Steve Baker, who launched Conservatives For Britain to call for a European exit if Prime Minister David Cameron fails to secure radical reforms, was one of five Tories elected in a meeting of the Conservatives’ 1922 committee.

He returns to the Treasury committee after first joining it in 2014.

Also returning to the committee is former banker Mark Garnier, who sat on the committee for the entirety of the last parliament.

Alongside the duo, the Conservatives also elected three new MPs to the committee in Stephen Hammond, Jacob Rees-Mogg and Chris Philp.

All three bring financial services expertise, having held various roles in the City of London.

Hammond has sat as an MP since 2005 and served as a minister in the Department for Transport in the last Parliament. He previously worked at Dresdner Kleinwort Benson, where he was director of equities, and Commerzbank, where he was director of pan European research.

Prior to joining Parliament in 2010, Rees-Mogg also worked as an investment banker, holding roles in the global emerging markets division of Lloyd George Management before setting up his own company, Somerset Capital Management, in 2007.

Elected for the first time in May, Philp is a former entrepreneur who co-founded financial investor and asset manager Pluto Capital, which specialises in funding construction in the UK and Europe.

The Treasury committee will again be chaired by Andrew Tyrie, who was re-elected unopposed as chairman earlier this month.

Labour and the SNP have yet to select their committee members.


Frank Field to chair Work and Pensions committee

Long-serving Labour MP Frank Field has been elected to chair the House of Commons’ work and pensions committee. Field, who has been in Parliament since 1979, defeated fellow Labour MPs Teresa Pearce and Kate Green in a poll of all parliamentarians. Field has been a long-time campaigner on poverty issues, and served as David Cameron’s […]


Labour MP tells Parliament financial services must reform

A former Aviva public policy manager has used her maiden speech in Parliament to call for tougher regulation of financial services. Louise Haigh, who was elected as the Labour MP for Sheffield Heeley last month, said yesterday the attitudes of the City remain unchanged following the recession, and called for further political intervention. “The culture […]


FSA accused of ‘contempt for Parliament’ on RDR small pots debate

Lord David Lipsey has accused the FSA of showing “contempt for Parliament” after the regulator failed to brief the Labour peer ahead of a debate on small pension funds. On Tuesday, Baroness Sally Greengross tabled a question for debate in the House of Lords on the action being taken by Government to ensure people with […]


Regulator issues pension scheme governance warning

The Pensions Regulator says the industry and employers “have to accept” that many small schemes will never meet its defined contribution governance standards. In a survey of trust-based schemes, the regulator found all master trusts and 88 per cent of larges schemes had good knowledge of its quality features for DC schemes. However, 74 per […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Julian Stevens 26th June 2015 at 4:51 pm

    Welcome to the club, guys. We have no powers whatsoever other than to ask questions and/or occasionally put forward a suggestion or two, which representatives of bodies such as the FCA are quite at liberty to brush casually aside. But the money’s fair, you get to be on TV fairly regularly and a spell on the Committee will look quite good on your CV. Apart from those things, there’s nothing much to it, certainly nothing likely to make any real difference. It’s just a talking shop, really.

    Didn’t I read something about a Statutory Code of Practice for Regulators by which the FCA is supposed to abide but which it manifestly doesn’t?

    Yeah, there’s that, but we’re under strict instructions never talk about it. It was just a bit of window dressing.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm