A new clause could make it illegal in the UK for companies like PayPal to demonetise individuals or organisations for political reasons.
On Thursday, Conservative MP Sally-Ann Hart presented an amendment to the Financial Services and Markets Bill, which would make it illegal for a financial services provider to withhold or withdraw service from a customer if it’s related to their freedom of expression.
Hart told The Epoch Times by email that the “digitalisation of financial transactions has placed an unprecedented amount of power in payment service providers.”
The new clause is expected to be discussed this week.
PayPal
At the time, Young told The Epoch Times that “this feels like an escalation in the ongoing war against free speech by Big Tech.”During the same period, the online payment system also shut down the account of UsForThem, a campaigning group that advocated for children to be prioritised during the COVID-19 pandemic, and which continues to lobby for children’s well-being.
‘We Need Legislation’
This could see the Financial Conduct Authority get involved if a payment service provider refuses to supply a service to a customer in the UK if the reason is significantly related to the customer exercising their right to freedom of expression.“After discussions with a number of my colleagues, I tabled the amendment because we need legislation to prevent payment service providers from demonetising individuals or organisations for political reasons,” said Hart.
“Expressing different views is fundamental to free speech and the digitalisation of financial transactions has placed an unprecedented amount of power in payment service providers,” she added.
“If this amendment isn’t passed, we will soon see the emergence of a Chinese-style social credit system in the U.K., except instead of ideological dogma being enforced by the Communist authorities it will be enforced by woke capitalist corporations,” said Young.
On Young’s comments, Hart said that she had not met him and did not feel able to comment on what he said.
“Although I agree with his sentiment about financial censorship on our basic human right of freedom of speech, opinion, and expression; the right to seek, receive, and impart information and ideas of all kinds, by any means,” she said.
“This is a human right which is recognised internationally,” added the MP.
The Epoch Times contacted PayPal for comment.