In the past few weeks we have seen George Osborne try to water down reforms to the banking industry in Europe. See George Monbiot’s article available at http://www.monbiot.com/archives/2011/01/24/bonus-balls/
and documentation to back this article up on George Monbiot’s blog at http://www.monbiot.com/archives/2011/01/24/how-the-treasury-deceived-us/
We also know that the government is weakening tax laws so that large and medium sized businesses and corporations can pay less tax through having offices abroad in other countries and in tax havens. See the following article at http://www.monbiot.com/archives/2011/02/07/a-corporate-coup-detat/
This is all very strange considering the rhetoric before the election and the criticising of Labour policy for being too soft on the banks. David Cameron still has a specific pledge on the Conservative Party website stating there would be no banking cash bonus over £2,000. See the following link http://www.conservatives.com/News/News_stories/2009/02/No_bank_bonuses_over_2000.aspx
So where did it all go wrong?
Well the truth appears that it never went wrong, it has gone absolutely right for the Conservative Party. They have been able to get into power through reassuring voters on many issues like banking, family allowance, law and order, EMA, and so on, and as soon as the election was over, revealed the real manifesto.
The deceit is as transparent as can be, and now we can see why the bankers are still such good friends of the nation’s government. It has been confirmed that more than half of their party funding is from the city. This has been steadily increasing since David Cameron and his Bullingdon boys have led the Conservative Party.
The Conservative Party constantly points out the funding of the Labour Party from the Trade Unions, always seen as the disruptive political force in society by the right wing of politics. Yet the reality is that this country, and the world economy, has been brought to it’s knees not as a result of trade union greed and corruption, but due to the irresponsibility and corrupt nature of the Banking system.
Indeed, the Labour Party courted the city and big business in the 1990’s and constantly pandered to the Banks, praising them and swallowing the deregulation neo-liberal policies, allowing the Banks the freedom to do as they wished.
We have gone from a Tory lite government in New Labour to an ultra right wing Conservative Party who are wedded to big business regardless of the effects on society or the economy in the long term.
This not only shows how the Conservative Party have been corrupted by donations from the city, but how our entire political system has been corrupted. Rotten to the core of our Parliamentary Democracy.
We need a complete overhaul of the way political parties are funded, as well as many other constitutional changes to clean up our politics.
Democracy is pointless if the power is only with those with money.
The very idea that people give large amounts of money to political parties, and don’t expect them to take their point of view within the political debate is ridiculous. Money buys influence, if it didn’t, they would not contribute in such large amounts. Just exactly what have David Cameron and George Osborne told the city they will get for their money?
We are only within the first year of the new coalition government, and the amount of bank and city friendly policies has been dramatic. Yet those at the lower end of the economic scale are being punished for the problems of society they did not create.
Sad but true, our politics is indeed broken as David Cameron suggested before the election, only he is the one doing the most to break it.