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Conservatives reveal Treasury committee members

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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.

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Comments

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.

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