Is the UK government putting the financial sector at risk?
While there's no doubt that the banking community in the UK, and indeed the worldwide banking community, played a major role in the downturn of the worldwide economy, the UK government is again at risk of demonizing the sector to the long-term detriment of the UK economy. So is the UK government putting the financial sector risk by this constant criticism of all things financial?
Despite the fact that the UK government has already introduced a new tax to the banking arena there is speculation that this could be amended to bring more money into the UK government's coffers. Many believe that the banking sector has now "had enough" and ultimately paid the price for years of recklessness in the run-up to the worldwide recession. If the government continues to batter down the door to the UK banking arena every time additional funding is required this will reduce the competitiveness of the UK financial sector and indeed make the UK less attractive to overseas companies.
Yet again the authorities are now playing the "blame game" just as the previous government did but this constant drip feed of negative news about the UK financial sector is starting to take its toll.
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