Seeing Fred the Shred’s house being trashed in Edinburgh gives a glimpse of the nastier elements of the hang-a-banker mood out there – not just in Britain but internationally. Here is a remarkable opportunity for the Conservatives. World over, there are votes to be gained in threatening to tax or regulate the bejesus out of all financiers. Left-leaning governments (such as the Obama administration) find it difficult to avoid this temptation. There has been something of a rift in the White House over this, as Obama’s economic advisers know it makes makes very bad economic sense: in this globalised world, bankers can go anywhere they like (Barclays, for example, recently said it intends to double its staff in Tokyo).
If Cameron were to declare himself the champion of the free market, and set his face against the type of vindictive and pointless extra regulation in Wall St and Frankfurt, then he could attract some world class talent and make the City grow again.
Britain’s best politics newsletters
You get two free articles each week when you sign up to The Spectator’s emails.
Already a subscriber? Log in
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in