Labour MPs to thwart Rees-Mogg bid for Treasury

Andrew-Tyrie-700.jpg
Andrew Tyrie

Labour MPs are seeking to thwart an attempt by Jacob Rees-Mogg to become chairman of the Treasury committee, arguing his asset management business Somerset Capital Management is a conflict of interest.

Rees-Mogg would replace Andrew Tyrie, who announced in April he would not stand for reelection.

Commons committee chairs will be voted for in a secret vote by all 650 MPs within the next four weeks, the Financial Times reports.

“The idea is to simply stop Mogg,” said one Labour MP speaking to the newspaper. “It almost doesn’t matter who the candidate is, we just don’t want him.”

Alongside his role as co-founder and a partner at Somerset Capital Management, the MPs argued his hostility towards the EU would mean he wouldn’t properly scrutinise the Government’s Brexit plans.

Other contenders for the role include former education secretary Nicky Morgan, former Cabinet Office minister John Penrose, and former transport minister Stephen Hammond.