11 months ago

Listen to the many, not the few

Reflections on the General Election from our Vice Chair, Bilal Mahmood Anyone who tries to give you a hot take about this election with one simple answer is selling you a dud. Part of the reasons behind our defeat have arguably been generations in the making. The fall of the red wall certainly happened on Jeremy’s watch, but even his most ardent critics would begrudgingly admit it wasn’t all down…

11 months ago

Post 12 December – Where do we go from here?

Some reflections from LITC Treasurer, Christian Mole Whilst Jeremy Corbyn is correct in saying that a period of reflection is needed, the danger is that this morphs into excessive navel gazing: the reality is quite simply that we need to start thinking properly about what the electorate wants, rather than the socialist fantasyland that we seem to have targeted in an policy programme which by the time election day came…

11 months ago

There’s no such thing as a free lunch

Post general election thoughts from Labour in the City Secretary, Nick Smith. This is the first time I’ve ever felt bad voting Labour.  There are many reasons for this but mainly because of what the party has come to represent, and how it’s no longer a viable candidate to run the country. I’ve seen the party change considerably in the past few years.  While we’re good at recruiting activists this…

11 months ago

Desperate policies drowned out good ideas

Reflections on the general election from Labour in the City COO, Andrew Clark The binary nature of the bitter, hungover post-election argument in the Labour Party is dispiriting. Was it Brexit that lost it for us? The unpopular leader? The hostile media? An over-ambitious manifesto? Of course, it wasn’t one of these things – it was a bit of each. On Brexit, personally, I don’t blame the leadership for settling…

1 year ago

The trouble with bonuses

Over lunch with the Financial Times, John McDonnell fired a warning shot over bankers’ “grotesque” bonuses this weekend, pledging a consultation on ways to limit the size of payouts. “It’s become part of the [City] culture and it is so separate and distinct and isolated from the rest of the real-world economy and that’s why people are offended by it,” said the Shadow Chancellor, who is looking at options ranging…

1 year ago

Brexit and the Backstop

Much has been said about the Irish Backstop, but little clarity has resulted. The current Prime Minister of the UK, Mr Johnson, has demanded that the Backstop be removed from the Withdrawal Agreement. He seems confident that the EU27 will back down on its insistence that it is retained. Seemingly, an impasse arises. However, if the rhetoric is removed, a much clearer picture emerges. Mr Johnson’s confidence appears to be…

1 year ago

The next Chancellor but one

Labour will be on an election footing this autumn, with a well thought out strategy ready for financial reform, the Shadow Chancellor told Labour in the City’s summer reception. “Anything can happen,” said John McDonnell, referring to the imminent appointment of a new Prime Minister. He urged financial institutions to work with him to develop plans that will work effectively to reform the economy. The Shadow Chancellor and Jonathan Reynolds,…

2 years ago

A new look for the Old Lady

Is the Bank of England fit for purpose? That was the topic for a Labour in the City discussion hosted by Cicero which provoked a vigorous debate from our expert panel. The Labour Party is openly calling for a change to the Bank’s mandate, by adding a target of improving the nation’s stubbornly slow productivity by 3% annually, alongside inflation targeting and promoting financial stability. The idea of this shake-up…

2 years ago

Ten years on: banking beyond the crisis

To mark the tenth anniversary of the global financial crisis, Labour in the City launched an anthology of writing on the future of the financial services industry at a reception at London’s Guildhall with Alistair Darling, the former Chancellor of the Exchequer. More than 150 Labour in the City members heard Lord Darling offer his recollections on his role in stabilising the UK economy at the height of the banking…

2 years ago

The Lehman Trilogy review: where did banking’s purpose go?

By Sophia Morrell, Chair, Labour in the City Ten years on from the financial crisis, both the media and City are replete with perspectives on the crisis. However, none takes so profound a journey as The Lehman Trilogy into the genesis of an institution which is the emblem of a sector that lost its way. The play, written by Stefano Massini and playing at the National Theatre until October 20th,…

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