Thread by @PositiveMoneyUK

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

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.

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.

4/ With banks writing their own rules, it's no wonder the public are losing faith in the government's ability to listen & meet their needs.

We need fair limits on lobbying power so that the government can protect the things we all care about - like good health & warm homes.

5/ We need to change the rules:

❌Bans on private-sector second jobs for MPs
💰Caps on political party donations
🏦Longer 'cool off' periods for politicians who want to work in finance

Check out our research & tune into our launch event at 10am today 👇
positivemoney.org/publications/t…