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No CPMA veto for select committee

The Treasury select committee will not have the power of veto over the appointment of the chief executive of the Consumer Protection and Markets Authority.

Treasury financial secretary Mark Hoban replied to a written question from Conservative MP for West Worcestershire Harriett Baldwin, who asked if proposals for the power would be brought forward. He said: “The appointment will be made in line with the normal process for appointing FSA executives, which does not include a role for the Treasury select committee.”

In July, Chancellor George Osborne awarded the TSC the power of veto over the appointment of the head of the Office of Budget Responsibility.

Treasury select committee member and Conservative MP Mark Garnier says: “I am happy the committee does not have this power. Having the veto over the head of the CPMA would be unusual.”

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