Dame Meg Hillier has been elected by MPs to become the new chair of the Treasury Committee.

The Labour MP for Hackney South and Shoreditch was elected unopposed after being the sole nominee for the post.

She takes over from Conservative MP Harriet Baldwin, who had chaired the committee for two years.

Hillier will lead the body whose role is to examine the spending, administration and policy of HM Treasury, the Bank of England, HM Revenue & Customs, and the Financial Conduct Authority.

Previously, she chaired the Public Accounts Committee for nine years and was made a dame in 2021. Hillier first became an MP in 2005.

She says: “I look forward to working with my fellow MPs to scrutinise the actions of this country’s most prominent financial institutions over the course of the next parliament.

“During my nine-year tenure leading the Public Accounts Committee, I learned a thing or two about the mistakes governments can make with taxpayers’ money.

“I will work day-in and day-out, as chair of the Treasury Committee, to ensure His Majesty’s Treasury and its affiliated public bodies are managing the public finances in the best interests of the British public.”