Philip Hammond reprimanded over allegations of bank lobbying

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Former British Chancellor Philip Hammond has been reprimanded by the Westminster lobbying watchdog after writing to a Treasury official on behalf of a bank that he was being paid to advise.

In July 2020, Hammond sent an email with a pitch from OakNorth Bank for a new financial toolkit the government could use in response to the pandemic.

In correspondence, obtained by the Daily Telegraph, the Tory Lord asked the second-highest Treasury official to forward it to any other person who might be appropriate.

Westminster’s lobbying watchdog, the Business Appointments Advisory Board (ACOBA), condemned Hammonds’ conduct as unacceptable, saying it was unwise to contact senior Treasury officials on behalf of OakNorths.

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Watchdog chairman Eric Pickles said there was reasonable concern that Hammonds’ engagement with the Treasury was only made available to OakNorth as a direct result of your time as as chancellor.

Letters reveal that Hammond tried to stop the watchdog from publishing his decision, and even considered a legal injunction. He demanded that the verdict be withdrawn and reworded, telling Pickles: What is appropriate or inappropriate is ultimately a matter of individual judgment. You cannot move the goal posts.

But Pickles responded by saying the decision was final and Hammonds’ behavior was not in line with the purpose of the rules.

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