All the updated news related to treasury committee

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Truss told to be transparent over her plans for emergency cost-of-living budget

Liz Truss has been urged to be more transparent with her plans for an emergency budget to address the cost-of-living crisis. Tory leadership contest frontrunner Ms Truss has said she would bring forward urgent plans to address rising energy bills if ...

22 Aug 2022 at 13:57

Truss ‘promising the earth’ in bid to become PM, says Sunak

Rishi Sunak accused his Conservative leadership rival of “promising the earth to everybody” as he played down polling suggesting he is set to be defeated by Liz Truss. The former chancellor also fuelled speculation that he may decline to serve in ...

22 Aug 2022 at 15:15

Personal Finance

More can be done to analyse ‘poverty premium’, says FCA boss

More can be done to analyse the effects of the “poverty premium” that people pay for some financial services, a boss at the City regulator has told MPs. The poverty premium means some people on lower incomes may find themselves paying more for ...

21 Feb 2022 at 18:25

Sunak warns against ‘irresponsible’ Government borrowing

Chancellor Rishi Sunak has said it would have been “irresponsible” for the Government to have borrowed more to raise benefits in the face of rising inflation. Appearing before the Commons Treasury Committee, Mr Sunak defended the choices he ...

28 Mar 2022 at 17:25

Brexit has hit UK’s overseas trade, Sunak tells MPs

Britain’s withdrawal from the European Union has affected the level of overseas trade, Chancellor Rishi Sunak has acknowledged. Giving evidence to the Commons Treasury Committee on last week’s Spring Statement, Mr Sunak said it was ...

28 Mar 2022 at 19:25

Personal Finance

Four-year wait to have some financial complaints dealt with by ombudsman

Some people complaining about financial firms to the ombudsman have had a four-year wait, a committee of MPs has heard. Representatives from the Financial Ombudsman Service (FOS) were asked by the Treasury Committee about the ...

09 Feb 2022 at 16:55

2023 will be a very difficult year, OBR member warns MPs

The official UK economic forecaster has warned MPs that “2023 is going to be a very difficult year” for households as bills continue to rise. Office for Budget Responsibility (OBR) committee member David Miles issued the ...

22 Nov 2022 at 18:01

City

Lenders have ‘obligation’ to support struggling borrowers, Bank governor says

Mortgage debt and home repossessions are much lower than during previous financial crises, the Bank of England’s governor said as he emphasised lenders’ “obligation” to support borrowers. In a meeting about the UK’s ...

16 Jan 2023 at 17:50

Personal Finance

Treasury Committee expands campaign to encourage banks to boost savings rates

A powerful committee of MPs has widened the net in its campaign to encourage banks to boost the savings rates offered to loyal customers. The Treasury Committee said it has written to Nationwide Building Society, ...

10 May 2023 at 10:17

Outlook for government finances ‘still pretty grim’, economists warn MPs

The outlook for the Government’s finances is “still pretty grim” despite improved forecasts from the UK fiscal watchdog, economists have told MPs. A panel of experts also told Parliament’s Treasury Committee ...

21 Mar 2023 at 12:44

Bank chief says UK financial system could be ‘vulnerable’ to market volatility

The Bank of England has insisted that the UK’s banking system is robust, but admitted that any “lasting impact” on bank funding costs could dent the nation’s financial stability. It follows the failure of ...

22 Mar 2023 at 18:45

Cash savings rates have improved but still cannot beat inflation, says website

The cash savings deals currently on the market cannot beat inflation at 10.4%, but savers can at least offset some of the impacts by shopping around. Two years ago, in March 2021, more than 300 savings ...

22 Mar 2023 at 11:30

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