Reply to post: Re: No general taxpayers money was wasted

Financial Conduct Authority wastes £3.2m on unnecessary Oracle licences

LucreLout Silver badge

Re: No general taxpayers money was wasted

@Andy Bell

I too work for a large foreign owned bank. We too spend £BNs here every year. We also make magnitudes more revenue than our costs, which we lovingly term Our Profit.

Some of that profit, more than was used to fund the FCA, is from our profits made in Britain. We're not a charity and we'd not be here were it not profitable for us to be so: in short, we make money for and from our British clients, and they make their money from British tax payers (their customers).

All of our FCA fee and a lot more profit besides, comes indirectly from British people. Any waste by the FCA is indirectly wasting money taken from them. How could it be otherwise?

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