EU referendum: Treasury Select Committee will review UK's membership of the EU

James Nickerson
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David Cameron has committed to an EU referendum before the end of 2017 (Source: Getty)

The influential Treasury Select Committee has launched an inquiry into the economic and financial costs and benefits of the United Kingdom's membership of the European Union.

The inquiry comes as a response to the government's commitment to holding an In/Out referendum on the EU by the end of 2017.

Read more: Former executive chairman of Marks and Spencer and Conservative peer Lord Rose to lead pro-EU campaign

Commenting on the inquiry MP Andrew Tyrie who is also chairman of the Treasury Committee, said:

This inquiry will be wide-ranging, dealing with all the economic and financial consequences of the UK’s EU membership, and the impact of departure.

The Committee’s job will be to attempt to marshal the evidence on this important question into a coherent form, enabling the electorate to make a more informed decision. It welcomes evidence from all those with views and expertise.

Prime Minister David Cameron continues his attempts to renegotiate the terms of the UK's membership with the European Union, having hosted German Chancellor Angela Merkel yesterday at Chequers.

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Among other things, the inquiry will specifically look at "the terms on which the UK might leave the EU, and the likelihood of it securing continued access to EU goods, services and capital markets".

Yesterday cross party pro-Exit group Leave.UK was launched, while today it was announced ex-M&S boss Lord Rose will head up a campaign to stay in the EU.

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