The City Will Regret Falling Out with Its Real Friends Over Brexit

Investment banks such as Goldman Sachs are giving money to the Remain campaign in the EU referendum

by Allister Heath

It was an astonishing sight: George Osborne, Vince Cable and Ed Balls, sharing the same platform, all fighting for Remain, the old ideological divisions seemingly long forgotten.

In Germany, they would call this Left-Right alliance a “Grand Coalition”: others might see it as an undemocratic stitch-up whereby winners and losers gang up and seek to deprive the electorate of any real choice.

Cable and Balls were spectacularly ousted by the Tories and their relatively pro-enterprise election manifesto, of course; the Labour and Liberal Democrat parties and candidates they vanquished supported a 50p tax rate, a mansion tax and a bevy of other Left-wing policies that would have badly damaged the City and those who work for it.

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