The Business On... Andrew Tyrie, Tory MP for Chichester, Chairman of Treasury Select Committee

Click to follow
The Independent Online

So he has succeeded where Vince Cable and George Osborne failed?

Yes, Andrew Tyrie, something of a surprise choice to succeed John McFall as chairman of the Treasury Select Committee, looks like he might just have pulled off what the above two couldn't. The chairman of the Financial Services Authority, Lord Turner, has at last said in a letter to Mr Tyrie that he is looking to publish the watchdog's secret report into the failure of the Royal Bank of Scotland.


Yes, this comes as quite a coup for Mr Tyrie. In fact, he has managed to get Lord Turner into quite a tizzy. The latter has now said he cannot release the report without RBS's permission. But funnily enough the bank is actually rather relaxed about the report: those responsible for the failure have, after all, been fired.

What is Mr Tyrie like?

Bright. Very bright, but quite dry and (in common with clever people people) he has something of a reputation for arrogance. He briefly served in Michael Howard's unlamented Shadow Cabinet, but seems more suited to the world of the select committee, having sat on a wide variety during his 13 years in Westminster.

And politically?

Well, he is a eurosceptic, not that that is unusual in the Tory Party these days, but his voting record leans towards libertarian. He has been very hot on holding the Government of the day to account and on placing limitations on the power of the executive, qualities one might hope for in a select committee chairman but don't always get. He is also not shy about rebelling against the party line.

What next?

Well, financial services being what it is, Mr Tyrie is not going to be short of targets over the coming months. And once these committee chairmen get the bit between their teeth and have time in the limelight, things can quickly get explosive. Having scored a result against the FSA on this issue, perhaps he might like to follow up with its housing-market wrecker of a mortgage market review?