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The chairman of the Home Affairs Select Committee said that a national register for PCCs is "vital for local accountability".
Keith Vaz MP said: "We need to guard against maverick decision-making," he added, "the Government is going to publish a register of chief constables' interests, but has so far refused to do so for PCCs, who share the power over policing."
Last year PCCs replaced police authorities in 41 force areas across England and Wales, they were handed the power to set force budgets and even hire and fire chief constables.
A report from the Committee said Home Secretary Theresa May was "keen to distance herself from any responsibility to assess the performance of the PCCs", stating that they were ultimately "accountable to the electorate".
– Buckingham Palace spokesperson
The Queen is of course concerned by the report of an attack in Woolwich earlier today. Her Majesty is being kept informed.
The spokesperson also confirmed the Queen will visit the King's Troop Royal Horse Artillery at Woolwich barracks on 31st May, which was planned before today's attack.
Doctors treating victims of the Oklahoma tornado should be on alert for a rare deadly fungal infection caused by wind-whipped debris, NBC News has reported.
Five people died from similar infections following the 2011 twister in Joplin, Missouri, it said.
According to the broadcaster, government experts in such infections have warned clinicians to "be aware that these infections can happen".
MPs have warned that stronger scrutiny is needed from elected police commissioners to prevent "maverick decision making".
The Home Affairs Select Committee found that only a quarter of Police and Crime Commissioners (PCCs) had revealed certain financial data, despite being required by law to do so.
Home Secretary Theresa May previously shot down the idea of a national register of PCCs' interests, pay, perks and hospitality, but a recent report from the committee said it is "vital".
It comes after a string of heavily-criticised decisions made by commissioners including the suspension of a chief constable in Lincolnshire and the hiring of a youth commissioner in Kent.
The killing of a man on the streets of London this afternoon has sparked calls for the Government to revive plans to extend internet and email monitoring powers to the security services.
Labour ex-home secretary Lord Reid said such measures were "essential" to combating terrorism, warning it could otherwise take "some huge tragedy" to show the decision was wrong.
Former independent reviewer of terror laws Lord Carlile said it should provoke a "pause for thought" on the decision to drop the planned Communcations Data Bill from the Queen's Speech.
Speaking on BBC2's Newsnight, Lord Carlile said:
We have to learn proportionate lessons from what has occurred.
We mustn't rush to judgment. But we must ensure that the police and the security services have for the future the tools they need which will enable them to prevent this kind of attack taking place.
I hope that this will give the Government pause for thought about their abandonment for example of the Communcations Data Bill and possibly pause for thought about converting control orders into what are now called Tpims, with a diluted set of powers.
Supporters of the far-right group the English Defence League (EDL) gathered at Woolwich Arsenal train station near the scene, there were reports of bottles thrown at police.
Riot police with shields stood guard around the protest for a short time, before moving back into their vans.
Dozens of supporters had gathered, some wearing black balaclavas with an EDL logo on the front.
A mother confronted the Woolwich attackers, asking them to hand over their weapons and warning them: "It is only you versus many people, you are going to lose", it was reported.
Ingrid Loyau-Kennett, 48, told the Daily Telegraph that one of the attackers said to her that they "want to start a war in London tonight".
"So I thought 'OK, I don't know what is going on here' and he was covered with blood. I thought I had better start talking to him before he starts attacking somebody else. I thought these people usually have a message so I said, 'what do you want?'"
Mrs Loyau-Kennett said that the attacker seemed to be "in full control of his decisions and ready to do everything he wanted to do."
The mother-of-two, a cub scout leader from Cornwall according to the report, added: "Being a cub leader I have my first aid so when I saw this guy on the floor I thought it was an accident - then I saw the guy was dead and I could not feel any pulse."
Two men have been arrested after separate attacks on mosques following the terrorist incident in Woolwich.
A 43-year-old man is in custody on suspicion of attempted arson after reportedly walking into a mosque with a knife in Braintree, Essex.
Local MP Brooks Newmark tweeted:
Just met with leaders of local mosque in Braintree which was attacked this evening. Thanked local police for their swift response.From @TweetBrooks on Twitter:
Essex Police confirmed a 43-year-old from Braintree had been arrested on suspicion of possession of an offensive weapon and attempted arson after the incident.
Meanwhile police in Kent were called to reports of criminal damage at a mosque in Canterbury Street, Gillingham.
A spokesman said a man is in custody on suspicion of racially-aggravated criminal damage.