Saturday, 24 May 2008

City cuddles up to Cameron

. The Times reports that a growing number of large companies are approaching the Conservative Party looking for meetings in the hope of shaping policy. Alan Duncan, the Shadow Business Secretary, has recently met the chief executives or chairmen of BP, Shell, Vodafone, EdF and Total. The Tories have promised to cut corporation tax from 28p to 25p, although they plan to cut research and development tax allowances.

Some companies have started 'double briefing' - setting up shadow public affairs departments to improve relations with the Tories. For it's part the Conservatives have been busy building links over the past 18 months through Conservative Business Relations. Other organisations like City Circle and City Future seek to foster links between the City and the party that they obviously see as the next governing party.

I can't help but being struck how the two main parties seem to be returning to their traditional posture. Business is cosying up to the Conservative's and obviously receiving a rich reward in the promised cut in corporation tax, while Labour is increasingly financially reliant on the unions. This can hardly be a good thing for democracy as a whole.


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