We do recognise that there are areas where the current financial services market, the banking market, just isn't working for chunks of the British economy.
Sentiment: NEGATIVE
The real problem at the moment is that the banks - because of their existing culture, which is frankly anti-business, obsession with short-term trading profits, not focusing on the long term - are throttling the recovery of British industry.
As much as the banking system may not be terribly popular, it is an essential part of the economy.
The whole of government needs to contribute to the shared goal of restructuring the British economy. But that means taking on the myth that the Treasury either knows best or can run it all. It just doesn't.
There's another way we are getting behind business - by sorting out the banks. Taxpayers bailed you out. Now it's time for you to repay the favour and start lending to Britain's small businesses.
The market, as we're all painfully aware in the aftermath of the banking crisis, can be an idiot. It has no perception of right or wrong, or even sensible or insane. It sees profit.
We don't think of ourselves as a regional investment bank. We think of ourselves as merchant bankers with clients all over the country.
Housing associations have fingered the fact that they cannot use their assets as liquidity due to Bank of England rules unlike their continental equivalents. This has emerged to be one of the main bottlenecks to getting investment going in the U.K. It is a Bank of England issue.
We're seeing a crazy appetite for people to acquire and invest in British businesses.
I want Britain to be the home of successful competitive and stable financial services.
Finance is wholly different from the rest the economy.
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