Mel Stride

    THE HOUSE OF COMMONS TREASURY SELECT COMMITTEE has as new Chair, with Central Devon MP Mel Stride elected to the post. Turnout among MPs was high, with more than 500 MPs voting in the contest. The election, based on a transferable vote system, saw Mr Stride poll close to half of all first preferences in the first round. He was comfortably elected after the second round with more votes than the other candidates combined. The committee, widely recognised as one of most influential of the Westminster committees, scrutinises and holds to account the Treasury and the government’s economic policy. Mr Stride received nominations from across the House, including from Labour’s shadow treasury team and the SNP’s economic spokesperson.

    Having served as Financial Secretary to the Treasury for two years and then more recently in cabinet, Mr Stride will bring his experience in taking three finance bills and the customs bill through the House, as well as his understanding of how the Treasury consults, reaches decisions and translates them into legislation and action. His insight into no-deal preparations around tariffs, customs and excise, from having strategic oversight of HMRC for two years and having served on cabinet committees tasked with preparedness, also convinced his fellow MPs that he was the right choice. Mr Stride said:

    “The committee’s urgent focus must be Brexit, scrutinising both the likely results of a no deal and the recently negotiated agreement, along with the Government’s proposals for capitalising on the opportunities and minimising the risks. But beyond Brexit I hope the committee will look at the high effective marginal tax rates still faced by those on Universal Credit, especially lower income families with children, and the taxation of internet platform-based businesses where much more remains to be done.”

    Prior to becoming an MP in 2010 Mr Stride was an entrepreneur, launching a business in exhibitions and publishing from scratch and running it successfully for 20 years both in the UK and Abroad.

    Photo: Mel Stride MP speaking in the House of Commons for the first time as Chair of the influential Treasury Select Committee.