The Treasury Select Committee needs someone who can hit the ground running at this crucial time
My combination of private sector and ministerial experience make me the right candidate ensure proper scrutiny of the executive, writes Harriett Baldwin
With Nicky Morgan getting a well-deserved return to Cabinet, Parliament needs to elect a new chair of the Treasury Select Committee – someone who can hit the ground running at this crucial time. There are some key questions which the committee need to pose. Are the preparations for a no deal exit from the EU now in order? What about in the financial sector more generally? Will the banks be able to open on 1 November and provide the credit the economy needs to thrive? Have the regulators done their job to ensure the sector is ready for EU exit on 31 October?
Crucially, a new Bank of England governor will be appointed very soon. The Treasury Select Committee will want to interview the new governor immediately. The committee will also want to look at some of the ways in which the financial services sector is still letting customers down, whether by failing to explain the risks of investment products, or by charging too much. With financial fraud continuing to be a concern, is the Treasury happy with the way it is being dealt with? Her Majesty’s Revenue and Customs can sometimes provide a poor service and tax changes and loopholes are causing distress to the individuals affected.
There are many fine candidates who have also put their name forward. However, none other has the combination of deep and senior private sector experience spanning two decades and ministerial expertise that will ensure the committee is able to move quickly to scrutinise the actions of our new chancellor and the men who are his ministers. All parliamentarians, whatever their political persuasion or views on the EU will want this committee to be a well-chaired and robust scrutineer of the executive and I urge MPs to back me for the role.
Harriett Baldwin is Conservative MP for West Worcestershire