"These reforms will ensure that UK companies, especially small and medium-sized enterprises, can compete on a level playing field with those larger companies with the resources to set up operations in the Channel Islands, " said David Gauke, Exchequer Secretary to the Treasury.

BBC: Treasury to close loophole that allows VAT-free DVDs

In the second part of the committee, MSPs took evidence from David Gauke MP, Exchequer to the Secretary to the Treasury.

BBC: Scotland Bill Committee part 1

Chancellor of the Exchequer George Osborne (essentially head of the treasury and czar of all things financial) explained that the decision to abolish the stamp duty tax was meant to benefit small and medium sized businesses.

FORBES: UK Eliminates AIM Tax -- Could Help Tech Entrepreneurs

In Britain, die-hard opponents of the flat tax, such as Chancellor of the Exchequer Gordon Brown, were caught censoring portions of an internal Treasury paper on the subject that was obtained under the recently effective Freedom of Information Act.

WSJ: The World Is Flat

"Witnesses commented that the political strength of the chancellor of the exchequer was one factor explaining the current power and influence of the Treasury, " said the report.

BBC: UK Treasury too powerful, say MPs

The mayor of London has said the only way to convince the Treasury to devolve corporation tax powers to Stormont is to show the Exchequer that it would save it money in the long-term.

BBC: Boris Johnson

First Row (L-R): Finance Minister of Germany Jorg Asmussen, Finance Minister of Italy Giulio Tremonti, Canadian Finance Minister Jim Flaherty, US Treasury Secretary Timothy Geithner, French Finance Minister Christine Lagard, British Chancellor of the Exchequer Alistair Darling and Luxembourg Prime Minister and chairman of the Eurogroup Jean-Claude Juncker.

FORBES: G7 finance ministers and governors pose

As chancellor of the exchequer before becoming prime minister, he sailed the (admittedly benign) seas of his decade at the Treasury in some style.

ECONOMIST: British politics

As always on a Wednesday it's a very busy committee day -- with the Treasury Committee holding its third session on the Autumn Statement with George Osborne, Chancellor of the Exchequer.

BBC: Viewing guide: The pick of the week ahead in Parliament