Committee news

Financial Ombudsman Service: departure of CEO and ‘disrespectful’ actions of Chair
A new report sets out the Treasury Select Committee’s assessment of the handling of the departure of previous Chief Executive Officer, Abby Thomas, from the Financial Ombudsman Service
14 July 2025

Bank of England commits to monitoring cash acceptance on ongoing basis
The Government has confirmed that the Bank of England will monitor cash acceptance on an ongoing basis following a Treasury Select Committee report published earlier this year
12 July 2025

‘Complex’ Lifetime ISA increases risk of poor financial decisions
The Lifetime ISA’s (LISA) dual-purpose design may be diverting people away from more suitable products and putting part of their savings at risk, according to a new report
30 June 2025

HMRC warned by Committee for handling of phishing attack
The Treasury Committee has warned HMRC that its failure to report details of a breach affecting around 100,000 taxpayers is ‘unacceptable’ in a letter published today
10 June 2025

Risk of ‘two-tier society’ if Government does not act on cash acceptance
A lack of action from the Government to tackle declining cash acceptance could lead to a two-tier society with the most vulnerable bearing the cost, the Treasury Committee finds
30 April 2025

MPs approve preferred candidate for Crown Estate Chair
The Government’s preferred candidate for the role of Chair of the Crown Estate, Ric Lewis, has been approved by the Treasury Committee
24 March 2025

Can the National Wealth Fund move the dial on growth? New inquiry launched
The Treasury Committee is launching an inquiry into the NWF, aiming to understand if it has the tools and backing to drive meaningful growth in the UK economy
24 March 2025

New Prudential Regulation Committee members approved by MPs
The Treasury Committee has published its reports on the appointments of Andrea Enria and David Soanes to the Bank of England’s Prudential Regulation Committee (PRC)
12 March 2025

Government shares further detail on Office for Value for Money following Committee report
The Government has published a series of new documents on the Office for Value for Money (OVfM) which address issues raised by the Committee in its report earlier this year
11 March 2025

More than one month’s worth of IT failures at major banks and building societies in the last two years
At least 158 banking IT failure incidents affected millions of customers’ ability to access and use services between January 2023 and February 2025
6 March 2025

FCA and FOS sent letters by MPs on departure of Chief Ombudsman
The Treasury Committee has written to the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS) about the circumstances which surrounded the departure of the Chief Ombudsman, Abby Thomas, last week.
11 February 2025

Bank outages: Committee demands answers from banks and building societies following Barclays IT failure
The Treasury Committee has written to CEOs at nine banks and building societies to request information on the scale and impact of IT failures over the last two years
10 February 2025

Use of AI in banking, pensions and other financial services to be subject of new inquiry by MPs
A new inquiry by the Treasury Committee will consider the potential impacts of the increased use of Artificial Intelligence (AI) in banking, pensions and other financial services
3 February 2025

New Treasury cost-saving unit sparks concerns of duplication and unclear benefits for taxpayer
A lack of resources, a very short lifespan and high risk of duplication has left MPs on the Treasury Committee sceptical about the newly established Office for Value for Money
20 January 2025

Is the Lifetime ISA fit for purpose in 2025? Committee calls for evidence
The Treasury Committee is asking for evidence on whether the Lifetime Individual Savings Account (LISA) is still an appropriate financial product nine years after it was created
7 January 2025

Government response to predecessor Committee work on SME financing published
The report was the conclusion of work carried out by previous members of the Treasury Committee during the last parliament
12 December 2024

ONS ‘paints a daunting picture’ on official data in letter to Treasury Committee
A letter from the Office for National Statistics sets out an updated position on the Labour Force Survey in response to major concerns raised by the Chair of the Treasury Committee
3 December 2024

Bank of England Governor faces questions from MPs for the first time since general election
The Treasury Committee will question the Bank of England Governor and members of the Monetary Policy Committee (MPC) at 10.15 next Tuesday. The session will focus on the Bank’s most recent Monetary Policy Report and the recent decision to reduce the Bank Rate by 0.25 percentage points to 4.75%.
15 November 2024

Acceptance of cash to be investigated by Treasury Committee
The Committee is asking for evidence as it examines whether rules are needed to govern the acceptance of physical cash in the UK
4 November 2024

Chancellor, OBR and economists to appear in front of Treasury Committee next week
The Treasury Committee today announces a series of evidence sessions which will scrutinise the Autumn Budget
30 October 2024