Stop banker-bashing, says Lord Mayor of London
01st February 2010
Lord Mayor of London Nick Anstee has urged politicians to stop "banker bashing" and restore trust in the City. Mr Anstee, the global ambassador for the financial services, said: "Trust has fundamentally broken down between the British public and the City. "
He asked bankers to be transparent and accountable, saying their roles were "not just for money-making, but for society and its future".
Mr Anstee said politicians also need to take responsibility for the crisis.
Mr Anstee's comments, at the Guild of International Bankers, came after London Mayor Boris Johnson warned that 9,000 bankers may leave the City because of the government's 50p in the pound tax rate on bonuses.
'Money-making'
Mr Anstee, who is the head of City of London Corporation, said: "We fool ourselves if we do not recognise that trust has fundamentally broken down between the British public and the City and my first concern is to help restore that trust.
"Things have changed and we have to be better at explaining what we do. And explaining why it matters - not just for money-making, but for society and its future. "
He added: "We should also remember that politicians of all stripes are content to let responsibility and opprobrium for our economic fragility rest anywhere but on their desks.
"I am challenging each of Britain's political parties to commit publicly to a long-term vision for the City. "
He asked the government to ease the "ever-increasing penalties" on bankers, but stressed that the advantages of being in London may rule out an exodus.
Source: BBC