MP hits out at attacks on the City

first_img Show Comments ▼ MP hits out at attacks on the City whatsapp whatsapp THE Square Mile’s local MP will today launch a rare but impassioned defence of the City and financial services, accusing the coalition of “playing to the gallery” to appeal to “general banker bashing sentiment”. Mark Field, the Conservative MP for the Cities of London and Westminster, will use a speech at Westminster Hall to hit out at the “near universal distaste reserved for financial services”.Field will also warn the government against punishing the financial services sector while “picking winners” to engineer a rebalancing of the economy. He will concede that the financial crisis highlighted the UK’s dependence on the City and its exposure to the global banking system.But he will add: “My worry is that it is being used as code – even by Conservative coalition ministers – for a playing to the gallery as part of the general banker bashing sentiment.”And he will warn against “penalising our most competitive sector” while “fooling ourselves that a miraculous rebalancing of the economy will occur by default”. “It is not for the government to pick winners and losers,” Field will say. Last night, Field told City A.M.: “The thing I’m trying to get across is this: time and time again, foreign bankers tell me we must be mad, because we have a business that links us successfully to international markets, but we want to throw it away.” Tags: NULLcenter_img KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndo Tuesday 2 November 2010 10:09 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Sharelast_img read more