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The Latest Breaking News from Treasury Committee

Bank of England will monitor cash acceptance on ongoing basis

Dame Meg Hillier, chairwoman of the Treasury Committee, described the development as a ‘positive first step’.

The Independent UK

Complexity of Lifetime Isas increases risk of poor financial decisions, says Treasury Committee

The Treasury Committee said the design of the Lifetime Isa may be diverting people away from more suitable products.

Evening Standard

Savers should be warned about potential pitfalls of Lifetime Isas, MPs say

The Treasury Committee said savers should be aware of more suitable products

The Independent UK

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Speed of UK rate cuts ‘shrouded in uncertainty’ after tariffs, Bank boss says

Andrew Bailey told MPs during a Treasury Committee session that the Bank had ‘genuine concerns’ about escalating trade tensions.

The Independent UK

Speed of UK rate cuts ‘shrouded in uncertainty’ post-tariffs, Bank boss says

Andrew Bailey told MPs during a Treasury Committee session that the Bank had ‘genuine concerns’ about escalating trade tensions.

Evening Standard

FCA bosses highlight risks of bad advice or fraud from some online influencers

People may lose some or all of their money, the Treasury Committee heard.

Evening Standard

Firms ‘may need to be forced to accept cash to prevent two-tier society’

The Treasury Committee is urging the Government to improve its monitoring and said the Treasury may eventually need to mandate cash acceptance.

Evening Standard

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Watch in full: Economists grilled on Rachel Reeves’s spring statement as millions brace for bill rises (cloned)

Watch as UK economists appear before parliament's Treasury Committee on Tuesday, 1 April, to answer questions about Rachel Reeves's spring statement.

The Independent UK

Santander's IT Nightmare: Outage Leaves Customers Without Funds—Can You Claim Compensation?

Santander users are experiencing major challenges using their debit and credit cards, as well as transfering money. Downdetector reports that this is an ongoing, global issue.

International Business Times UK

Martin Lewis highlights ‘major holes’ in Lifetime Isas

The MoneySavingExpert.com founder was giving evidence to the Treasury Committee.

Evening Standard

Martin Lewis tells MPs the big problems behind the Lifetime ISA - and why banks don’t offer it

The MoneySavingExpert.com founder was giving evidence to the Treasury Committee

The Independent UK

Government has no plans to force businesses to accept cash, MPs hear

Economic secretary to the Treasury Emma Reynolds told the Treasury Committee the Government has no plans to compel big or small firms to accept cash.

Evening Standard

Treasury Committee probes whether Lifetime Isa is still fit for purpose in 2025

MPs are aiming to gather views from the finance industry, consumers and experts.

Evening Standard

Watch live: Bank of England’s Andrew Bailey speaks to lawmakers about financial stability

Watch live as the Bank of England Governor Andrew Bailey, and other members of the BoE’s Financial Policy Committee answer questions from the House of Commons’ Treasury Committee on 10 January.

The Independent UK

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Evening Standard

Tax self-assessment: Thousands face 'long phone queues' as HMRC moves services online ahead of Jan 31 deadline

The Commons Treasury Committee criticised the move by Her Majesty’s Revenue and Custom away from self-assessment call handlers

The Independent UK

Self-assessment helpline will focus on ‘priority queries’ in run-up to deadline

Treasury Committee chairwoman Harriett Baldwin has written to HMRC CEO Jim Harra ‘to get much-needed answers about what this means for taxpayers’.

The Independent UK

Banks under fire as HSBC profits surge while borrowers are squeezed

The chair of the Treasury Committee said the latest figures show major lenders are not sufficiently passing on higher interest rates to savers

The Independent UK

Tangled tax break approach needs drastic overhaul, MPs warn

An inquiry by the Commons Treasury Committee expressed concern about a serious lack of scrutiny of the tax reliefs.

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The Independent UK

Savings providers must keep customers informed about available rates – watchdog

FCA boss Nikhil Rathi said firms will need a strategy to ensure customers are adequately informed of available rates across their product set.

The Independent UK

Banks pressed by MPs to make further rate hikes for savings customers

The Treasury Committee has written to the bosses of major banks to ask if they believe all their savings rates provide ‘fair value’ to customers.

The Independent UK

‘Lack of clarity’ concerns raised over impact of self-assessment helpline change

Treasury Committee chairwoman Harriett Baldwin said she is disappointed at HMRC’s response to questions on changes to the self-assessment helpline.

Fortune

Is crypto trading the same as gambling? This U.K. parliament committee thinks so, and most crypto advocates—unsurprisingly—disagree

The Treasury Committee in the House of Commons said crypto assets have "no intrinsic value."

Insider UK

Treating cryptocurrencies as gambling would be 'a backwards step'

A government committee report has proposed new regulation for the nascent industry

The Independent UK

Cryptocurrency trading should be regulated as gambling, says Treasury Committee

Unbacked cryptoassets pose significant risks to consumers, given their price volatility and the risk of losses, the committee said.

Evening Standard

Cryptocurrency trading should be regulated as gambling as it ‘serves no useful purpose’ otherwise, MPs say

The Committee said regulating cryptocurrencies as financial products risked giving people a false sense of security in the assets

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