“Party’s over for City jollies” but alas not for local government schmoozing

A short article in today’s Sunday Times Business section notes that new EU rules now forbid fund managers and analysts from accepting hospitality beyond a minimal level – it has to benefit “ordinary” customers and if over a reasonable limit it is considered “an inducement”. It goes on to say that most firms have set £100-150 a head as the maximum in London.

Fortunately, our local Tory councillors can rest easy as it does not apply to local government, so they can still take their Exeter Chiefs rugby tickets and their meals with developers and the like – which never seem to cost more than £25 a head when declared (where are they going – Nando’s or perhaps Frankie and Benny’s? And DEFINITELY t-total!).

Source: Sunday Times Business supplement (pay wall)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s