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Field is thwarted In comeback bid

Former welfare reform minister minister Frank Field has been blocked by

the Govern-ment in his efforts to rejoin the powerful work and pensions

select committee, which he once chaired.

Field, Labour MP for Birk-enhead since 1979, was fired as minister in

1998. He is known for his outspoken views which often attack the Government.

The committee will now include several first-time MPs as well as Liberal

Democrat MP Archy Kirkwood.

The membership of the Treasury select committee was also approved in a

vote in the House of Commons.

The members will decide on a chairperson for the Treasury select committee

when they meet for the first time later this week. Traditionally, the chair

goes to the most senior Government MP on the committee, which in this case

would be Labour&#39s Jim Cousins.

Cousins has established himself as an independent-minded critic of

Treasury financial services policy. It is thought the Government may

override the committee&#39s decision and impose its own choice instead.

The Treasury select committee made headlines last year when it grilled

former Equitable Life chairman John Sclater and chief executive Chris

Headdon. It also hauled Sir Howard Davies before it to explain the

regulator&#39s role in the debacle. A previous committee report backed IFAs

over their concerns about the pension review.

A political consultant says: “I think it would be a tragedy if someone

with the experience and intelligence of Jim Cousins was not offered the

role of chairing the Treasury select committee.”


Treasury Select Committee names new chairman

The parliamentary Treasury Select Committee has announced today its new chairman will be Labour MP John McFall who represents the Scottish consitutency of Dumbarton, near Glasgow. Labour MP Jim Cousins was passed over for the chairmanship, despite the fact he is the most senior Government member on the committee of backbenchers.McFall, who previously served as […]

FSA sets the table

The FSA has indicated that it is aiming to make its first comparativetables available in the autumn and that these will be for Isa UK growthunit trusts and Oeics. The tables will be put on the FSA&#39s website so they will only beaccessible to members of the public who use the internet. They are notguaranteed […]

Winterthur abandons sale of Sipp arm

Winterthur Life has taken its self-invested personal pensionadministrator, Personal Pension Management, off the market two months afterputting it up for sale, saying the offers received were unsuitable. Credit Suisse-owned Winterthur says it decided in early May to explore thepossibility of selling PPML to a third party following a review of the admincentre to concentrate on […]

Depolarisation survey sends a warning to IFAs

The IFA channel will dominate distribution in the early years of adepolarised environment but will lose market share to bancassurers ande-commerce over time, a new survey suggests. IFAs are the preferred advice channel for 41 per cent of higher-earning UKadults, with another 13 per cent saying they would approach a multi-tiedadviser and 22 per cent […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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