Britain’s financial services sector is booming, as everyone knows. It generates jobs, provides vast amounts of tax revenue, contributes a surplus of nearly £20bn to the trade balance and helps make London one of the most vibrant, cosmopolitan cities in the world.
But the runaway success of the City also means that Britain is increasingly dependent on a largely foreign-owned sector, that London is experiencing explosive house price growth, and that income inequality is on the rise, despite this government’s redistributive measures.
There seems to be something in the air. In recent months we have seen the usually secretive heads…
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