The race is on to elect a new chair for the Treasury select committee after the powerful position was left vacant when influential lawmaker Andrew Tyrie announced he was leaving parliament.
Writing exclusively for City A.M., John Penrose makes his pitch for the job.
This Parliament will create a new, post-Brexit Britain. We have an unparalleled opportunity to recast the kind of society and economy we want Britain to have.
The Treasury Select Committee shouldn’t only be an effective and fearless inquisitor of powerful ministers or business bosses; it needs to be a safe, cross-party space where the economic foundations of a ‘post-Brexit consensus’ can be laid and where answers can be found to fundamental questions that we haven’t debated for decades.
Questions like how we fix regional imbalances between London, the south-east and the rest of the country. How we dissolve the growing divide between asset-owning older people and the insecure, struggling generation behind them. How we bring about social justice between white and blue collar workers, how much debt it is fair to pass on to younger generations and how we improve our productivity. The answers matter because Britain’s economy has serious flaws which undermine its legitimacy. At the moment too many people under 35 feel the system is stacked against them, so it doesn’t make sense for them to work hard or save for their future like their parents did. The Treasury Select Committee should be at the heart of finding these answers, forging a consensus that will restore our economic legitimacy and stability.