Britain’s finance minister Philip Hammond has been on Wall Street trying to reassure top US bankers that London is still the world’s leading finance hub despite the Brexit vote.
He is has to convince the financial services companies that they will be able to continue doing business in Europe, via the UK.
His boss, Prime Minister Theresa May, this week sounded off about the damaging side-effects of ultra-low interest rates and other central bank stimulus measures and took a swipe at corporate greed.
Jasper Lawler, an analyst at CMC Markets, says Hammond may have to unruffle some feathers: “If US politicians have been listening to Theresa May’s speeches, particularly at the latest Conservative Party conference, there was also a bit of talk of business bashing almost. A bit of kind of talk to really appeal to the masses that are maybe feeling a little bit disfranchised and so probably Philip Hammond is going over there to say: ‘Well this is the talk that has been given to appease the public and the core conservative voters but actually don’t worry guys, we’re still wanting to do business with you’.”
In New York today meeting leaders in financial services to discuss why Britain remains the best place in the world to do business.— Philip Hammond (@PHammondMP) October 6, 2016