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⚡️1/ We're live in Parliament launching "The Power of Big Finance" exposing the lobbying power of big banks and their lobbyists.
Watch live on Facebook: facebook.com/10224470074195…
Follow our live tweets & join the conversation with #StopTheBankingLobby.
Watch live on Facebook: facebook.com/10224470074195…
Follow our live tweets & join the conversation with #StopTheBankingLobby.
2/ @franboait introduces the event: at Positive Money, we've spent 10 years showing how the financial sector doesn’t serve communities across the UK.
But the strong ties between big finance and policymaking entrench the status quo.
But the strong ties between big finance and policymaking entrench the status quo.
3/ Report author @D_Barmes explains: it’s no secret that the financial sector gets special treatment.
When the banks get bailed out, we get austerity.
When bankers get bonuses, we get wage cuts.
And on the brink of a recession, the gov't is planning to deregulate big finance.
When the banks get bailed out, we get austerity.
When bankers get bonuses, we get wage cuts.
And on the brink of a recession, the gov't is planning to deregulate big finance.
Our new research exposes how bank lobbyists are hijacking our democracy, ensuring:
💷Tax cuts for banks, tax hikes for workers
🌎Weak rules on fossil fuel lending
⚖️Wealth sucked from communities to the City of London
It's time to change the rules. Share to #StopTheBankingLobby
💷Tax cuts for banks, tax hikes for workers
🌎Weak rules on fossil fuel lending
⚖️Wealth sucked from communities to the City of London
It's time to change the rules. Share to #StopTheBankingLobby
2/ Our new report shows the financial sector spent £17.6m on influencing politics in 2020 & 2021.
Of the MPs who recorded work in exchange for payments, the average hourly wage was £2,738 an hour.
Of the MPs who recorded work in exchange for payments, the average hourly wage was £2,738 an hour.
3/ Every single former Chancellor in the past 40 years has gone on to take up paid positions in the financial sector.
Over the past decade, financial institutions that hired a former UK Chancellor benefited on average from a 59% increase in meetings with government departments.
Over the past decade, financial institutions that hired a former UK Chancellor benefited on average from a 59% increase in meetings with government departments.
