HM Treasury  

Harriet Baldwin elected as Treasury committee chair

Harriet Baldwin elected as Treasury committee chair
Treasury select committee chair, Harriett Baldwin MP [Image credit: Treasury]

Harriet Balwdin has been elected as chairperson of the Treasury committee after winning yesterday’s election among members of parliament.

The conservative MP for West Worcestershire secured the highest number of votes among the five nominated candidates, with 156 first preference votes out of 397.

Andrea Leadsom trailed Baldwin in second place with 106 first preference votes. 

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Among those nominated were fellow Conservative party MPs John Baron (55 first preference votes), Richard Fuller (34)  and Kit Malthouse (46).

In her candidate statement provided for the election, Baldwin said the work of the committee "could not be more important than it is now" following the appointment of a new prime minister and a ministerial re-shuffle.

“The committee works best without the shackles of economic ideology and focuses on a strong evidence base to make its recommendations,” Baldwin said.

“At a time when the country is looking closely at the way its government manages the economy, all eyes will, too, be on the Treasury select committee to rigorously challenge its thinking.”

She added: “Now that we have taken back control of our financial regulation, the committee will play a vital role in setting a regulatory tone that works for our global financial centre, while enabling our constituents to engage with a financial sector that works for everyone.”

Baldwin became a member of the committee in 2019 having previously served as economic secretary in the Treasury between 2015 and 2016. Prior to becoming an MP she worked in the financial services sector for over 20 years.

“Since joining the committee, I’ve been a strong, questioning voice, particularly challenging the governor of the Bank of England and I am on record consistently questioning him on the challenges of rising inflation,” Baldwin said.

“The same rigour will be needed to question the Treasury’s actions over recent months and the plans that our new chancellor has to balance the books. 

“The Treasury select committee needs a wise, knowledgeable chair to lead proceedings and I’ve worked closely with our previous chair, Mel Stride, to ensure that the committee challenges witnesses without fear or favour.”

Outgoing chair, Mel Stride held the position since October 2019.

The new chair was elected from the Conservative party, as agreed by the party leaders following the results of the last General Election.

The Treasury committee is appointed by the House of Commons to examine the affairs of HM Treasury, HM Revenue & Customs along with public bodies including the Bank of England and the Financial Conduct Authority.