15
We do not see a clear need for the creation of a new committee or...
Conclusion
We do not see a clear need for the creation of a new committee or a new independent body to carry out this work. It would seem a more efficient use of Parliamentary resources to use the structures that are already available in both Houses. Although the scrutiny task will be substantial, it will be an extended one as new regulations are drafted, rather than a short-term surge of activity. There is already expertise in select committees in the Commons and the Lords, and both have the power to appoint specialist advisers and commission research.
Paragraph Reference
86
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
Finally, while I note the Committee’s conclusion that they do not see a clear need for the creation of a new committee or a new independent body, I would also like to reiterate that it is rightly a matter for Parliament to consider the appropriate structure for its scrutiny.
Source
Committee
Treasury Committee
Inquiry
Future of Financial Services
Report
Fifth Report - The Future Framework for Regulation of Financial Services
06 Jul 2021
HC 147
Addressee Bodies
HM Treasury
Timeline
Recommendation age
4.9 yrs
Report published
06 Jul 2021