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Finance Industry's Multimillion-Pound Lobbying Budget Revealed


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HOLA441

http://www.guardian.co.uk/politics/2012/jul/09/finance-industry-lobbying-budget-revealed

The British financial services industry spent £92m last year lobbying politicians and regulators in an "economic war of attrition" that has secured a string of policy victories.

As the industry prepares to fight off renewed calls for root-and-branch reform in response to the Barclays rate-fixing scandal, an investigation by the Bureau of Investigative Journalism has revealed the firepower of the City's lobbying machine, prompting concern that its scale and influence puts the interests of the wider economy in the shade.

Documents show how finance lobbyists won a host of important policy changes in Whitehall and Westminster. These include:

• The slashing of UK corporation tax and taxes on banks' overseas subsidiaries after a lobbying barrage by the City of London corporation, the British Bankers' Association (BBA) and the Association of British Insurers. The reform will save the finance industry billions.

• The neutering of a national not-for-profit pension scheme launching in October that was supposed to benefit millions of low-paid and temporary workers.

• The killing of government plans for a new corporate super-watchdog to police quoted companies.

etc....

Oh dear. It looks like the state needs more money to keep going and only the bankers have any left. Time to clean house, then!

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I'm sure Game Over will be along soon to debunk any bankster influence on (so called) government policy...

Does this cover just banks or Banks, insurance, Pension funds, Hedge funds, Building societies, IFA's etc etc. If so. Its probably smaller proprtionately than is spent on lobbying and avdertising than by Public sector Trade unions.

I would have thought $92m is chicken feed compared to what gets spent by the same industry in the states. Didnt Obama raise about a billion for his current camapaign when associated interest groups are included.

Personally, I'd ban all forms of lobbying and limit political donations to £50 per individual but this is a non-story. Its not the lobbying by associations you should be worried about, its the back scratching behind closed door and over private phone calls that is the bit that I'd be concerned about.

How much does the EU spend on propaganda, paid officials, pointless appointees and apparatchiks every year. £92m is rounding error

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Does this cover just banks or Banks, insurance, Pension funds, Hedge funds, Building societies, IFA's etc etc. If so. Its probably smaller proprtionately than is spent on lobbying and avdertising than by Public sector Trade unions.

I would have thought $92m is chicken feed compared to what gets spent by the same industry in the states. Didnt Obama raise about a billion for his current camapaign when associated interest groups are included.

Personally, I'd ban all forms of lobbying and limit political donations to £50 per individual but this is a non-story. Its not the lobbying by associations you should be worried about, its the back scratching behind closed door and over private phone calls that is the bit that I'd be concerned about.

How much does the EU spend on propaganda, paid officials, pointless appointees and apparatchiks every year. £92m is rounding error

Ahh the classic "other people are doing it worse so it's nothing to worry about" approach.

myra hyndley exists, therefore it's ok to punch toddlers.

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Ahh the classic "other people are doing it worse so it's nothing to worry about" approach.

myra hyndley exists, therefore it's ok to punch toddlers.

Selective reading of my post there Injin.

I never said it was all right, in fact I stated I'd ban it .

I merely put the amount into context to show that it's not as relevant as the 'wow' headline suggests .

I also maintain that the real worry is the lobbying that doesn't get accounted for which puts any figure into its correct irrelevant box.

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Selective reading of my post there Injin.

I never said it was all right, in fact I stated I'd ban it .

I merely put the amount into context to show that it's not as relevant as the 'wow' headline suggests .

I also maintain that the real worry is the lobbying that doesn't get accounted for which puts any figure into its correct irrelevant box.

Oh, and by the way Myra Hindley doesn't technically exist any more .

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Selective reading of my post there Injin.

I never said it was all right, in fact I stated I'd ban it .

I merely put the amount into context to show that it's not as relevant as the 'wow' headline suggests .

I also maintain that the real worry is the lobbying that doesn't get accounted for which puts any figure into its correct irrelevant box.

Ah sorry, M, you are right, the banking industry lobbies for more parasitical powers over the rest of the population and it's a problem.

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