House commons public accounts committee

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Volume II considers in detail several of the major privatisations, including those of airports, steel, water, electricity, coal and the railways, as well as a number of smaller ones. Each privatisation involved major challenges in terms of industrial restructuring, organising successful sales and, in a number of cases, establishing effective regulatory regimes. The policy evolved and new methods of selling and regulating were put in place that enabled further disposals to occur. Monolithic nationalised industries with their emphasis on the benefits of economies of scale, vertical integration and rationalisation, were replaced by industrial structures rooted in the importance of commercial management, risk taking and competition. This study draws heavily on the official records of the British government, to which the author was given full access and on interviews with the leading figures involved in each of the privatisations, including ex-ministers, civil servants, business and City figures, as well as academics that have studied the subject.
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House of Commons Business: Monday 29 January 2018

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In Committee from the House of Commons: Public Accounts – October 5, | CPAC

Key Commons committee also criticises minsters' use of 'gagging clauses' to silence business groups over Brexit. Subscribe Now Subscribe Now. Final Say. Long reads. Lib Dems. US Politics. Theresa May.
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Public Accounts Committee (United Kingdom)

Labour's Margaret Hodge has been elected to chair the influential House of Commons committee responsible for oversight of government expenditure. The former children's minister replaces Conservative Edward Leigh on the public accounts committee PAC after the committee chairs were determined by election for the first time as part of reforms to reduce parliamentary patronage. Hodge beat Bayley by just six votes in the fifth round of voting. The Barking and Dagenham MP, who faced down the threat of the BNP in her constituency at last month's general election, had promised a "postmortem" of Labour's spending record while in government if elected. The Conservative Andrew Tyrie was elected chair of the Treasury committee, beating fellow Conservative Michael Fallon, who held the post in the last parliament.
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It is responsible for overseeing government expenditures, and to ensure they are effective and honest. The committee is seen as a crucial mechanism for ensuring transparency and accountability in government financial operations, having been described by Professor the Lord Hennessy as "the queen of the select committees The recommendation for the creation of a committee to oversee government accounts was first put forward in by a small group of interested Members of Parliament led by Sir Francis Baring.
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