FINANCIAL INDUSTRY LOBBYING

That this House is appalled at the revelation that the British financial services industry spent 92 million last year lobbying politicians and regulators in an economic war of attrition that has secured a string of policy victories including slashing corporation tax, cutting the value of not-for-profit pension schemes and the dropping of the plan for an industry watchdog; condemns the Coalition's repeated surrenders to the greedy self-serving pressure from lobbyists; and calls for new transparent regulation that will end the present manipulation of the finance industry which favours large firms and cheats millions on modest incomes.