Latest News
Launch of Economic Crime Manifesto
The APPG on Fair Business Banking and the APPG on Anti-Corruption and Responsible Tax have partnered to launch their Economic Crime Manifesto. The manifesto seeks to root out the dirty money which – far from being a white collar issue – facilitates drugs being sold to our children, allows for corruption in developing nations, and funds and supports Putin’s brutal hegemony. The manifesto calls on the Government to implement greater transparency, enforcement, accountability and regulation in the second Economic Crime Bill to tackle these issues and stem the £290 billion lost to economic crime each year in the UK.
Update From The Foskett Panel
Following a series of meetings with the APPG, the SME Alliance and Lloyds Banking Group the Foskett Panel has issued an update in which they recognise that the Re-Review process has progressed too slowly as well as the urgent need to re-address this problem. The update details that, whilst conversations are continuing, there is substantial alignment between parties on the need to re-design some elements of the Re-Review process in order to deliver quicker outcomes and provide closure for customers.
Roundtable – Competitiveness as an Objective in Financial Regulation
The APPG on Fair Business Banking and the Finance Innovation Lab hosted a roundtable with Parliamentarians, journalists and industry to discuss HM Treasury’s proposals to introduce ‘competitiveness’ as a statutory objective for regulators. The roundtable unanimously agreed that the ‘international competitiveness’ of the finance sector should not be a primary objective of financial regulation. However, there were differing opinions on whether competitiveness should become a secondary objective, as the Government has proposed.
Our Goal
The APPG on Fair Business Banking puts forward policy recommendations that create a balanced finance system allowing enterprise to flourish and business to thrive. We use our voice at Parliament to help shape a level playing field between businesses and the banks that lend to them, while supporting a resilient business banking sector to deliver quality, choice and opportunity for businesses.
Current Focus
The global pandemic has deeply impacted our economy, and coupled with the climate change challenge, the sector is expecting significant change. The APPG on Fair Business Banking will be concentrating on the evolution of the business banking industry in response to these challenges to ensure that the survival and wellbeing of business is prioritised. We also need to ensure that the mistakes which left so many business owners in damaging and unfair situations are not repeated. Of biggest concern to us will be: tackling unregulated vulture funds, supporting the development of a strong and diverse business banking market and coordinating banks’ work to confront the Race to Zero challenge in a way which is fair to business.
Support Our Work
The APPG does not receive any taxpayer funding but there are costs associated with research, administration, event management, running a website and more. It is managed by its secretariat, Athena Foundation, which is not-for-profit and relies on and donations from individuals, companies and other interested groups. As the APPG gains yet more traction, it is imperative that we are able to raise sponsorship to build on our already substantial progress. To that end, we are inviting donations to support our work. Please find below a link for donations, which can be ‘one off’ or on a monthly basis. We recommend a minimum donation of £250 per annum. There are also opportunities to sponsor events. For more information, please contact anne.murray@appgbanking.org.uk. Any donations will be recorded publicly in our register of interests.
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