Urgent call to stop Sunak’s dangerous banking bill

Global Justice Now has been leading efforts to sound the alarm about prime minister Rishi Sunak’s dangerous plan for a second ‘big bang’ in the City of London – the mass financial deregulation which laid the ground for the 2008 banking crash. The Financial Services and Markets Bill was tabled by the then chancellor last summer, continued under Liz Truss’s illfated premiership and ultimately passed through the House of Commons in December. Campaigners now face a battle to block or amend the bill in the House of Lords.

More than 30,000 have signed our petition against the bill’s efforts to strip back the limited measures introduced after the financial crisis to prevent the worst excesses of City speculators. From removing the cap on bankers’ bonuses to scrapping the restrictions on food speculation won by our campaigning in the early 2010s, the plan contains a litany of measures which encourage risk-taking among Sunak’s former colleagues in the banking industry at the expense of wider society.

Take action at: globaljustice.org.uk/sunak-banks