Nicky Morgan

MP demands fresh 'rigorous economic analysis' of Brexit

nicky morgan

Nicky Morgan chair of the Treasury Committee, has written to Sir Tom Scholar, permanent secretary of the Treasury, and Mark Carney, governor of the Bank of England, to request "up-to-date and rigorous analysis" of the economic impacts of the current key scenarios for the UK’s future economic relationship with the EU.

She said the last analysis produced at the Committee's request "will be almost a year old on the 31 October Brexit deadline.

“As the committee requested prior to the first meaningful vote, we have asked HM Treasury and the Bank of England to, where necessary, provide updated analysis of the economic impacts of the key scenarios for the UK’s future economic relationship with the EU.

“This will ensure that parliament is as informed as possible as it considers key decisions about the future of our country".

Parliament shut down for no-deal Brexit 'is mad suggestion'
Nicky Morgan criticises a suggestion that Parliament could be shut down to ensure a 31 October Brexit.

Morgan: 'Woodford should waive fund fees'

Nicky Morgan

Nicky Morgan, the chair of the Treasury Committee has reacted to news that the Woodford Equity Income Fund has suspended withdrawals.

“Investors in the Woodford Fund have been locked out of accessing their cash. Yet it has been reported that Mr Woodford is taking in nearly £100,000 in management fees a day.

“The suspension of trading has provided Mr Woodford with some breathing room to fix his fund; he should afford his investors the same space and waive the fund’s fees while the fund is suspended.

“The FCA has rightly said that it is closely watching the fund. The Treasury Committee will no doubt raise this troubling episode, and what lessons can be learnt, when we take evidence from the FCA and Bank of England.”

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Companies House reform 'timely'

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The Treasury Committee has published the government's response to its report in March on economic crime in which it called for new powers for Companies House and extra scrutiny of estate agents.

Nicky Morgan, the MP who chairs the Treasury Committee, said she was disappointed the government had not backed ideas to create a register of Politically Exposed Persons (PEPs).

But, she said: "The recent announcement of a consultation into the reform of Companies House is timely, and the government should be ambitious in the new powers and resources that it proposes to provide to this vital component of the UK’s defence against economic crime.

“The government is currently assessing whether the power to block a stock market listing on national security grounds is necessary. The committee will follow the government’s conclusions on this closely".

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