[UK] Mr Stride to lead Treasury Select Committee

Former HM Treasury minister and Conservative MP for Central Devon has been elected as the new chair of the important Treasury Select Committee.  Speaker John Bercow announced Mr Stride’s appointment in the House of Commons on the 23^rd of October, confirming that he has received 263 votes, ending the applications for MPs Kevin Hollinrake, Mark Garnier and Harriett Baldwin.

Mr Stride’s appointment follows the departure of fellow Conservative MP Nicky Morgan who returned to the cabinet in July 2019 as Secretary of State for Digital, Culture, Media and Sport.  She had held the post since July 2017.

The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration and policy of HM Treasury, HM Revenue & Customs, and associated public bodies, including the Bank of England and the Financial Conduct Authority.  It chooses its own subjects for enquiry and one of its reports in 2018 was influential in getting the government to delay the closure of the childcare vouchers scheme to new entrants.

Global Payroll Association Comment

We can understand the anger and frustration of campaigners against this appointment.  After all, when Mr Stride was financial secretary to the Treasury, he was pivotal in advocating the Disguised Remuneration Loan Charge, a controversial policy that is now being reviewed.

Former HM Treasury minister and Conservative MP for Central Devon has been elected as the new chair of the important Treasury Select Committee.  Speaker John Bercow announced Mr Stride’s appointment in the House of Commons on the 23^rd of October, confirming that he has received 263 votes, ending the applications for MPs Kevin Hollinrake, Mark Garnier and Harriett Baldwin.

Mr Stride’s appointment follows the departure of fellow Conservative MP Nicky Morgan who returned to the cabinet in July 2019 as Secretary of State for Digital, Culture, Media and Sport.  She had held the post since July 2017.

The Treasury Committee is appointed by the House of Commons to examine the expenditure, administration and policy of HM Treasury, HM Revenue & Customs, and associated public bodies, including the Bank of England and the Financial Conduct Authority.  It chooses its own subjects for enquiry and one of its reports in 2018 was influential in getting the government to delay the closure of the childcare vouchers scheme to new entrants.

Global Payroll Association Comment

We can understand the anger and frustration of campaigners against this appointment.  After all, when Mr Stride was financial secretary to the Treasury, he was pivotal in advocating the Disguised Remuneration Loan Charge, a controversial policy that is now being reviewed.