If you needed any more proof that the Bankers have the Tory Posche in their pockets, here it is.
The City regulator, the Financial Conduct Authority (FCA), has shelved plans for an inquiry into the culture, pay and behaviour of staff in banking.
The FCA had planned to look at whether pay, promotion or other incentives had contributed to scandals involving banks in the UK and abroad.
The shadow chancellor said it was a “huge blow to customers and taxpayers”.
The Treasury denies involvement in the decision – which some commentators have suggested was politically motivated.
The FCA said it had decided a “traditional thematic review” would not help it achieve its “desired outcomes”, promising instead to encourage the “delivery of cultural change”.
Mark Garnier MP, a Conservative member of the Treasury Select Committee said he was “disappointed” by the decision.
Banks around the world have faced huge fines from regulators for their involvement in numerous scandals.