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CITY VIEWS: WOULD A BANK TAX HURT THE CITY?

MICHAEL WONG | BARCLAYS GLOBAL INVESTORS
“It depends on what level its set at, and would need to be adopted by the US and EU too since this country depends on financial services. The Tories have proposed this as a publicity stunt to win the favour of the electorate, and since the City is about 80 per cent Tory anyway, it won’t have much of an impact on voting in this area.”

ANDY ATKINS | RBS
“It will be highly beneficial since it will curb the risks taken by bank bosses. But it is definitely politically motivated.”

ANDREW DRUMMOND | XCHANGING
“It wouldn’t be particularly devastating or negative, but only if it’s for the short term, say one or two years, so that the banks aren’t stuck with it. Otherwise, business will go to Switzerland, Hong Kong, Frankfurt and so on.”