Boris Johnson urges against ‘vilifying bankers’

15:52 19 November 2012

Boris Johnson has given the green light for billionaires to sue in London : File picture: PA Wire

Boris Johnson has given the green light for billionaires to sue in London : File picture: PA Wire

PA Archive/Press Association Images

Boris Johnson today reiterated his calls for a third runway to be ruled out at Heathrow Airport.

The London Mayor also found time in a speech to the CBI conference to make an appeal for billionaires’ wives to sue for divorce in the capital.

He insisted the capital was the perfect place for “injured spouses” to take their wealthy other halves “to the cleaners”.

Mr Johnson also dismissed as absurd proposals for a tax raid on owners of expensive homes, warning that high rates of personal taxation would make Britain less competitive.

He urged politicians to be positive about businesses and stop using “austerity rhetoric”.

He insisted vilifying bankers was counterproductive - but also called on bankers to show more “moral leadership”.

“We have moved from the Age of Excess under Labour into an Age of Austerity - but if this country is to grow we need urgently to move on to a new Age of Enterprise,” he said.

“And for enterprise to flourish, we must be responsive to what is happening in the rest of the world.

“We can’t solve the banking crisis by imposing more regulations than our rivals in other European jurisdictions. We shouldn’t be gold plating the rules on capital adequacy out of some sense of guilt for having got it wrong last time, if that means we make London less attractive as a place to establish or expand your business.”

Mr Johnson added: “Not only have we got to stop vilifying bankers we need to make the moral case for banking for financing ventures at risk, for the free market allocation of capital as the most efficient means of enriching the greatest number of people. Because the human race has tried communism and it wasn’t a howling success.

“And symmetrically we need more moral leadership from the leading bankers of today.

It is not good enough for them to lick their wounds behind the stuccoed walls of their Notting Hill schlosses or to seclude themselves on the grouse moor and pretend that they have no reason to engage with society when the banking crisis had such a huge impact on many less fortunate than them.”

Amid speculation that David Cameron is preparing to do a U-turn on Heathrow expansion, the mayor said supporters of a third runway were delusional.

He said the political fallout and legal challenges would be so great it would not be any quicker than his preferred option of a new ‘Boris Island’ airport in Kent.

Mr Johnson also could not resist a dig at the coalition’s flagship police reforms as he took to the stage.

“I am delighted that this graveyard slot has generated a decent turn out,” he told the audience of business leaders in central London. “Bigger than the entire voting population in the recent police and crime commissioner elections.”

Hailing the capital as the “chief glory of the UK economy”, Mr Johnson said it dominated the world in the areas of law, property, insurance and accountancy.

Sign up for our news alerts today!

Our editors' picks for the day's top news delivered to your inbox or phone.

Sign up for email alerts Sign up for mobile alerts
1
2 3 4 5 6
7

Latest Stories from SNAP.PA

Danny Dyer was worried he had offended Mary Berry by licking her ear during a drunken acceptance speech at an awards ceremony.

Read more

The robot is an extension of the surgeon’s arms – it’s not doing anything independently.

Read more

The band rocked the socks off their fans at the landmark London venue tonight – including magician Dynamo.

Read more

Promoted content

Valentine's Day Afternoon Tea

London Hilton on Park Lane is inviting couples to celebrate this Valentines Day over a deliciously romantic afternoon tea at Podium Restaurant and Bar. Taking inspiration from the highly popular Confessions of a Chocoholic Afternoon Tea, London Hilton on Park Lane presents the ultimate romantic afternoon out with its Valentine’s Day Afternoon Tea.

Established in 1987, Tucci is one of the North's premier stores for branded clothing, footwear and accessories.

Save up to 70% on designer brands for Men and Women, including G-Star, Diesel, French Connection, Firetrap and many more….our sale is now on.

Valentine's Day in London

If you’re struggling over what to buy for the special person in your life in your life, our Valentine’s Day in London section is here to help.

The robot is an extension of the surgeon’s arms – it’s not doing anything independently.

The rise is levelling off but we can’t be complacent, say researchers.

The lollipop man has been unable to return to work since the attack.

Finding the jet remains a priority for Malaysia.

TOP Stories

Yesterday, 15:41
Paul Kohler was left with horrific injuries [Photograph from Metropolitan Police]

A professor who was savagely beaten in his Wimbledon home by a gang of Polish burglars said the attack should not be used to justify racism, and praised the local Polish community.

Yesterday, 12:24
Snoopy is now free and seems well [Photographs from London Fire Brigade]

London Fire Brigade have rescued a horse called Snoopy who was stuck in water up to his neck in marshland near Erith.

Yesterday, 10:47
Oh my god this looks like so much fun! (Picture: Pearlfisher Gallery)

A giant ball pit for adults has opened at a gallery in London and it looks absolutely amazing.

London Bloggers

Monday, December 22, 2014
Around 25 per cent of the population self-identity as having no religion yet still enjoy the fun of Christmas (Photo by Oli Scarff/Getty Images)

It’s Christmas time. We know this by the light-adorned streets, the mobility hazard posed by boxes of Quality Street, Roses and Celebrations in every supermarket’s entrance and, of course, the incessant radio-plays of Mariah Carey’s All I Want for Christmas Is You.

Thursday, November 27, 2014
The main room at the Museum of Comedy (Pic: Steve Ullathorne)

This week I visited the Museum of Comedy located at the corner of Museum Street and Bloomsbury Way in the crypt under St George’s Church.

Thursday, November 27, 2014
Bird Lovegod

I genuinely and honestly have only a slight problem when it comes to buying domain names.