The grandees of the City are often accused of crying wolf, pretending that their industry is about to be devoured by taxes and regulation when in fact they are just trying to protect profits. In recent months, the same chorus that greeted Mr Taylor has joined a new crescendo, complaining of everything from a new tax surcharge on banks’ profits to London property, which is apparently too expensive even for finance types. Above all, the doom-mongers point to Britain’s prospective departure from the EU, the subject of a referendum to be held by the end of 2017. Are their concerns any more plausible this time?
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