The House of Commons Treasury Committee (often referred to as the Treasury Select Committee) is a

select committee Select committee may refer to: *Select committee (parliamentary system) A select committee is a committee made up of a small number of parliamentary members appointed to deal with particular areas or issues originating in the Westminster system o ...

of the

House of Commons The House of Commons is the name for the elected lower house of the bicameral parliaments of the United Kingdom and Canada. In both of these countries, the Commons holds much more legislative power than the nominally upper house of parliament. T ...

in the

Parliament of the United Kingdom The Parliament of the United Kingdom is the supreme legislative body of the United Kingdom, the Crown Dependencies and the British Overseas Territories. It meets at the Palace of Westminster, London. It alone possesses legislative suprem ...

. The remit of the committee is to examine the expenditure, administration and policy of

HM Treasury His Majesty's Treasury (HM Treasury), occasionally referred to as the Exchequer, or more informally the Treasury, is a Departments of the Government of the United Kingdom, department of Government of the United Kingdom, His Majesty's Government ...

, with all of its agencies and associated bodies, including

HM Revenue and Customs HM Revenue and Customs (His Majesty's Revenue and Customs, or HMRC) is a non-ministerial government department, non-ministerial Departments of the United Kingdom Government, department of the His Majesty's Government, UK Government responsible fo ...

, the

Bank of England The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the English Government's banker, and still one of the bankers for the Government o ...

, the Prudential Regulation Authority, the

Financial Conduct Authority The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. The FCA regulates financ ...

, the

Royal Mint The Royal Mint is the United Kingdom's oldest company and the official maker of British coins. Operating under the legal name The Royal Mint Limited, it is a limited company that is wholly owned by HM Treasury, His Majesty's Treasury and is un ...

, and so on. Since 2010 the Treasury Committee has taken on new powers, including the right to veto appointments to the independent

Office for Budget Responsibility The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the UK Treasury, that the UK government established to provide independent economic forecasts and independent analysis of the public finances. It was formally ...

, and has forced the

Financial Services Authority The Financial Services Authority (FSA) was a quasi-judicial body accountable for the regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 19 ...

to publish a detailed report into its handling of the collapse of

Royal Bank of Scotland The Royal Bank of Scotland plc (RBS; gd, Banca Rìoghail na h-Alba) is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster B ...

Membership

As of November 2022, the members of the committee are as follows:

Changes since 2019

2017–2019 Parliament

The chair was elected on 12 July 2017, with the members of the committee being announced on 11 September 2017.

Changes 2017–2019

2015–2017 Parliament

The chair was elected on 18 June 2015, with members being announced on 8 July 2015.

Changes 2015–2017

2010–2015 Parliament

The chair was elected on 10 June 2010, with members being announced on 12 July 2010.

Changes 2010–2015

Chair of the Treasury Select Committee

Election results

From June 2010 chairs of select committees have been directly elected by a secret ballot of the whole House of Commons using the alternative vote system. Candidates with the fewest votes are eliminated and their votes redistributed until one remaining candidate has more than half of valid votes. Elections are held at the beginning of a parliament or in the event of a vacancy.

Valuation Office Agency (VOA) Inquiry

On 1 February 2019, the Treasury Committee launched an inquiry looking into the impact o
business rates
and any unfairness in the system of rateable valuation operated by the VOA. Th
inquiry
heard evidence from many businesses and trade organisations. Th
findings
of this inquiry outlined that the service was broken and public confidence had been eroded. In it
reply
to the inquiry, February 2020, the Government promised to make changes to business rates as part of a fundamental review of the VOA.

References

External links

Records of the Treasury Committee are kept at the Parliamentary ArchivesTreasury Committee
{{Authority control Select Committees of the British House of Commons HM Treasury