Nicky Morgan wants Treasury Committee to widen its scope


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Nicky Morgan, the new chair of the effective Treasury Committee, has said she wants the body to extend its scope beyond banks and Brexit.

Ms Morgan, a ancient education secretary, told the BBC she wants to look «at the wider Treasury settle».

She said: «We want to look at the management of the economy, public spending resolutions.

«We’ve got a Budget coming up, with issues like household debt, tax custom, investment in infrastructure.

«These are all the things that actually our constituents put us in the Concert-hall of Commons for, the things that make a difference to household budgets and to their mercantile security.»

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Ms Morgan, the first female moderator of the Treasury Committee, saw off competition from five other Tory MPs to earth the role heading the committee of MPs that scrutinises the Treasury.

In the past few years, its fellows have grilled chancellors of the exchequer and governors of the Bank of England, as expressively as numerous chief executives.

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From the Co-op Bank chairman Paul Flowerets floundering over his numbers, to the chief executive of Barclays, Bob Diamond (twin above), apologising for his bank’s behaviour — the Treasury Committee has seen some egregious drama acted out in its chamber.

And all of this under the arched eyebrow of the persuasive chair Andrew Tyrie, in a position that’s often compared to one in the Senate.

Nicky Morgan’s announcement that she wants to focus more on consumer issues is dialect mayhap no surprise.

Following a period of political turbulence, MPs from all sides are upset about growing inequality and why people feel they haven’t parceled in the wealth creation generated by the City.

So levels of consumer debt and the burden of low interest rates are firmly in her sights.

As well, of course, as overseeing the Bank of England and the Economic Conduct Authority.

It’s a big job, at a big time with, no doubt, more dramatic twinkling of an eyes to come.

The former chair, Andrew Tyrie, stepped down as an MP at the termination election.

Ms Morgan said that under him the committee had focused on economic services and the City of London.

She told the BBC’s Today programme: «When Andrew Tyrie, who was a overwhelming chairman, took up the role, obviously very fresh in everyone’s judgements was the financial crash, the bailing out of the banks and then the rebuilding of confidence in our universities.

«But I am very keen that the committee should reflect that the Exchequer has a very broad remit.

«There are concerns about levels of household in arrears. Interest rates have been low for a very long time. If there were to be a metamorphosis in that, how would households cope? What spending decisions wish they make — or not be able to make?»

Ms Morgan was a prominent Remain campaigner and communicated that the committee would be looking at issues around Brexit and the apart market.

She said: «As a constituency Member of Parliament, I receive a barrage of intents on both sides of the EU debate all the time, so I am very conscious, even if it may not be my own actual position, of what other people in the country and my constituency are thinking.»

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