View more on these topics

Treasury select committee divided over EU probe

UK-London-Parliament-Big-Ben-700x450.jpg

The influential Treasury select committee is to launch a probe of the costs and implications of next year’s vote on EU membership, but members have been unable to agree the terms of the inquiry.

The committee, which is chaired by Andrew Tyrie, reached an informal agreement to report on the EU at a recent private session, Money Marketing understands.

However, process has been stymied by the failure of members to agree its premise.

EU sceptics including Steve Baker, who founded Brexit campaign group Conservatives for Britain, and Jacob Rees-Mogg are understood to be keen to focus on the current cost of membership, while other members want to look at the cost of an exit.

Both Baker and Rees-Mogg declined to comment, but fellow TSC member and Labour MP Bill Esterson says: “I would like to see us study as far as possible what is the evidence of the impact on the economy of retaining our membership, what would be the effect of leaving on the likes of Jaguar Land Rover and Tata, and what is needed for them to continue their investment in jobs and prosperity in this country.

“We could also ask what renegotiations the Prime Minister should be getting. Given that he is not telling us maybe we should help him out.”

Recommended

Money-Cash-Coins-GBP-Pounds-UK-700x450.jpg

Lighthouse profits climb despite hike in FSCS costs

National advice firm Lighthouse Group has posted an increase in profits of over 300 per cent for the first half of 2015 despite a Financial Services Compensation Scheme levy of over £440,000. The firm posted a pre-tax profit of £359,000, up from £88,000 for the six months to 30 June. But it also saw a […]

SimplyBiz: The real story on auto-enrol opt-outs

Opt-outs from auto-enrolment schemes have been lower than industry expectations. Initial projections ran at around 30 per cent, yet experience to date has shown figures of less than 10 per cent on average. Nest reports an opt-out rate of just 8 per cent. As a result, the Department for Work and Pensions has revised down […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment