-
Reference:
2011/0383
-
Question by:
Len Duvall OBE
-
Meeting date:
26 January 2011
On 5 January, you were quoted in an Evening Standard article entitled 'Scrap 50p tax, help the City, save 'banker tossers' Boris Johnson lets rip' as saying 'Why do we need to rebalance London's economy? Financial services grew because we were very successful at them'. Did the abolition of exchange rate controls and bank capitalisation rates under the Thatcher Government have anything to do with the growth of financial services in London and is the not a classic example of 'picking winners' that, according to you, free marketers should never engage in?