Finance News

Britain’s Labour Party MP Margaret Hodge attends Britain’s Labour Party annual conference, in Brighton, Britain, September 26, 2021. REUTERS/Hannah McKay

LONDON, May 16 (Reuters) – Britain has lost its moral compass and must act to tackle “dirty money” and protect the integrity of its democracy, a senior opposition lawmaker said in a report published on Monday by King’s College London.

Margaret Hodge, a Labour lawmaker for 28 years and former head of parliament’s Public Accounts Committee, said a culture of deregulation and light-touch enforcement had allowed financial malpractice to flourish and

The Supreme Court on Monday ruled for Sen. Ted Cruz (R-Texas) in his legal challenge to federal limits on the amount of money candidates can raise from donors to pay off their personal debt after an election.

The court struck down a $250,000 cap on the amount of post-election funds a candidate can be repaid for personal loans they made to their campaign, finding that the restriction violated the First Amendment.

The 6-3 ruling split along familiar ideological lines, with the court’s conservatives siding with Cruz over a dissent from the court’s three liberals.

Chief Justice John Roberts, writing for

WASHINGTON — The Supreme Court’s conservative majority sided Monday with Republican Sen. Ted Cruz of Texas and struck down a provision of federal campaign finance law, a ruling that a dissenting justice said runs the risk of causing “further disrepute” to American politics.

The court, by a 6-3 vote, said the provision Cruz challenged limiting the repayment of personal loans from candidates to their campaigns violates the Constitution. The decision comes just as campaigning for the 2022 midterm elections is intensifying.

Chief Justice John Roberts wrote for the majority that the provision “burdens core political speech without proper justification.”

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