Boris Johnson laid it on the line to George Osborne today about the supertax on bank bonuses. The Mayor has red blooded, clearly thought out views on our economy and he does not baulk at expressing them strongly. This tax is already having an adverse effect, said the Mayor, and in the long term, the effect on London’s long term prosperity would be disastrous. The full report is in today’s Standard.
Boris said that if banks like Goldman Sachs relocate their staff, £1.2 billion could be lost in revenues, with a devastating effect on London’s future, as ultimately 9,000 bankers could leave the City.
Senior City figures lined up to support the Mayor’s remarks.