The anti-Brexit campaigner Gina Miller has said “we don’t have a functioning democracy” if new political parties cannot access banking services, after she was told her own party’s account would be closed.
An idea I like is a branch of BoE entirely dedicated to create accounts for politicians and their parties where every single transaction is a public record.
The issue with existing banks refusing services to political parties is that established parties have no issue with it. They already have so much money and power that they could be their own bank. This is not the case for new parties. If you think the current two-party system is bad then you should probably consider this lady’s argument.
Wow. Bank policy is they don’t do business with political parties. Kinda demolishes her entire argument? If institutions without such a policy refuse to do business, that’s a different matter. Now, I only skimmed the article, but saw no mention of that type of difficulty.
She said she had to go round 9 banks before she was able to open this account in the first place. Her concern is that banks generally don’t want to deal with minor/start-up political parties and so parties like hers become de facto un-banked.
These fringe rage artists always spin simple TOS as persecution. Wouldn’t surprise me if they deliberately picked this bank to have their account closed to manufacture outrage.
Wasn’t aware of this. Apparently a number of countries have regulations that affect financial institutions in how they deal with certain people who might be especially likely to be involved with bribery.
