{"id":39643,"date":"2017-12-01T08:02:45","date_gmt":"2017-12-01T08:02:45","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=39643"},"modified":"2017-12-01T08:02:45","modified_gmt":"2017-12-01T08:02:45","slug":"corbyn-is-only-reflecting-reality-with-his-comments-on-the-city","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/12\/01\/corbyn-is-only-reflecting-reality-with-his-comments-on-the-city\/","title":{"rendered":"Corbyn is only reflecting reality with his comments on the City"},"content":{"rendered":"<p>As the <a href=\"https:\/\/www.ft.com\/content\/834527ba-d5f0-11e7-a303-9060cb1e5f44\" target=\"_blank\" rel=\"noopener\">FT has noted this morning<\/a>:<\/p>\n<blockquote><p>Jeremy Corbyn has labelled the financial sector \u201cspeculators and gamblers who crashed our economy\u201d, warning global banks that operate out of the City of London that he would be a \u201cthreat\u201d to their business if he became prime minister.<\/p><\/blockquote>\n<p>And before anyone gets too excited, let's remember that Adair Turner (Lord Turner) said in 2009, according to a\u00a0<a href=\"http:\/\/www.telegraph.co.uk\/finance\/newsbysector\/banksandfinance\/6096546\/City-is-too-big-and-socially-useless-says-Lord-Turner.html\" target=\"_blank\" rel=\"noopener\">Telegraph report, that<\/a>:<\/p>\n<blockquote><p>The City had grown \"beyond a reasonable size\", accounting for too much of British output and taking away too many of the country's brightest graduates.<\/p>\n<p>It should be cut down to size through new taxes if necessary, he said during a round-table discussion organised by\u00a0<i>Prospect<\/i>\u00a0magazine.<\/p>\n<p>\"I think some of it is socially useless activity,\" he said, referring to the complex financial instruments that have largely been blamed for triggering the biggest global financial crisis in decades.<\/p><\/blockquote>\n<div class=\"thirdPar\">\n<p>He was chair of the Financial Services authority at the time. There's nothing very radical about what Corbyn said in that case.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As the FT has noted this morning: Jeremy Corbyn has labelled the financial sector \u201cspeculators and gamblers who crashed our economy\u201d, warning global banks that<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2017\/12\/01\/corbyn-is-only-reflecting-reality-with-his-comments-on-the-city\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[136,35],"tags":[],"class_list":["post-39643","post","type-post","status-publish","format-standard","hentry","category-city-of-london","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/39643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=39643"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/39643\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=39643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=39643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=39643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}