Out-of-control political donations means "your say is based on the size of your bank account"

Analysis by the Labour Party has found that 20 of the wealthiest hedge fund tycoons have donated to the Conservative Party in the past two years.

Alexandra Runswick, Director of Unlock Democracy, said:

“The UK is in the middle of a democratic crisis because too much power is in the hands of too few. Those with power, like financiers and big business, are using their resources to rig the system. The public thinks that politicians do not listen them and are working to advance the interests of only the richest elites[1]. When political parties take donations from hedge fund millionaires and billionaires, they confirm what many of the public suspect already - that in our democracy, your say is based on the size of your bank account.”

“The UK needs an overhaul of campaign finance rules, but more than that, we need an overhaul of democracy so that political participation stops being based on the size of your bank account. As long as money is being pumped through the veins of our political system then the direction of our country is going to be decided by the highest bidder. That is not democracy, that is plutocracy.”

ENDS

[1] The Hansard Society’s 2019 Audit of Political Engagement found that 50% of the public doesn’t think that the main parties and politicians don’t care about people like them. The Audit also found that 63% of the public thinks the system of government is rigged to advantage the rich and powerful.

For more information email press [@] unlockdemocracy.org.uk or phone 0207 278 4443.

Sarah ClarkeComment