• Bookmark this page

The Best Guide for the NN12 Area

NN12 news, reviews and local events in NN12 areas including Towcester, Silverstone, Whittlebury, and communities in NN12.

Calendar of
Upcoming Events
The Fox & Hounds Whittlebury


"From feedback received from our various helpers a lot of our visitors had observed that they found us by visiting the website and decided to come along. So it works and thank you very much!! "
- Jackie E

Easy Access

Andrea Leadsom Local MP Attends First Treasury Select Committee

Author: Andrea Leadsom Published: 14th July 2010 10:01

Andrea Leadsom MP for South NorthantsAndrea Leadsom MP for South Northants

The first meeting of the Treasury Select Committee took place yesterday in Westminster.  Local MP Andrea Leadsom is one of the members of this influential group, scrutinising government decision making in all financial matters around tax payers’ money and the budget.
First to be called to account was Sir Alan Budd, outgoing Head of the Office of Budget Responsibility (OBS) set up by the Coalition Government to provide independent forecasting of our economic position.  Sir Alan was probed on how independent the OBS really is from Government – he insisted that the Chancellor’s office had nothing to do with the timing of the release of favourable forecasts following Budget announcements.

Sir Alan put up a strong defence of the OBS, later reinforced by a senior Treasury civil servant, that the transparency in numbers achieved by the OBS in a few short weeks has been a giant step forward in giving tax payers a clear idea of how budgetary changes will affect their personal circumstances.
A panel of expert economists were also interviewed, and Andrea questioned them closely on their views of the bank levy – did they think the banks had ‘got off lightly’ or were they concerned that the levy might drive bank headquarters overseas?  She also asked whether the panel felt banks were doing enough to support the recovery of small and medium sized enterprises (SMEs) whose success will be key to a private sector recovery in Britain.   

The general feedback was that the banks accept the levy, that the reduction in corporate income taxes may partially offset the cost of the levy for those that are in profit and that the key requirement of the banks is ‘certainty’ about regulation.  

The panel agreed that lending to SMEs is critical and that a healthy financial sector is key to meeting that need.
Andrea Leadsom
Member of Parliament
South Northamptonshire

Bookmark and Share

Report this article as inappropriate


You need to log in before you can do that! It's only a quick registration process to join the AMA network and completely free.

Sign in or join now to post a comment
Find a Local Business
Back to Top
© Copyright 2005-2018 AboutMyArea

AboutMyArea Privacy Policy

NN12: NN12 Home | News | Community | Business Directory | Villages | Charities | Recipes | Article Archive | Contact Us
AboutMyArea: Home | Site Map | Contact AboutMyArea | Terms & Conditions | Community Guidelines | Business Opportunity | Help

About Cookies