Treasury Select Committee
The House of Commons Treasury Committee (often referred to as the Treasury Select Committee) is a select committee of the House of Commons in the Parliament of the United Kingdom. The remit of the committee is to examine the expenditure, administration and policy of HM Treasury, with all of its agencies and associated bodies, including HM Revenue and Customs, the Bank of England, the Prudential Regulation Authority, the Financial Conduct Authority, the Royal Mint, and so on. Since 2010 the Treasury Committee has taken on new powers, including the right to veto appointments to the independent Office  for Budget Responsibility, and has forced the Financial Services Authority to publish a detailed report into its handling of the collapse of Royal Bank of Scotland. Membership. 2019–present. In January 2020, Mel Stride was re-elected as the committee's chair. 2017–2019. On 12 July 2017, Nicky Morgan became the new chair of the committee. Changes. Occasionally, the House of Commons orders changes to be made in terms of membership of select committees, as proposed by the Committee of Selection. Such changes are shown below. Chair of the Treasury Select Committee. Election results. From June 2010 chairs of select  committees have been directly elected by a secret ballot of the whole House of Commons using the alternative vote system. Candidates with the fewest votes are eliminated and their votes redistributed until one remaining candidate has more than half of valid votes. Elections are held at the beginning of a parliament or in the event of a vacancy. Valuation Office Agency (VOA) Inquiry. On 1 February 2019, the Treasury Committee launched an inquiry looking into the impact of business rates and any unfairness in the system of rateable valuation operated by the VOA.  The inquiry heard evidence from many businesses  and trade organisations. The findings of this inquiry outlined that the service was broken and public confidence had been eroded. In its reply to the inquiry, February 2020, the Government promised to make changes to business rates as part of a fundamental review of the VOA.