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So is the threat to the UK financial markets for real?

The revelation that UK financial outfit Tullet Prebon has given traders the option to relocate their trading desks overseas has been seen by many as a shot over the bows of the UK government. This is the opening shot of what promises to be a very high risk and a very real battle between the UK government and the UK financial sector. However, when you bear in mind that these financial companies take multi-million pound decisions on a daily basis there is only one party that has the experience to play this high risk game to win!

While it is wrong to suggest this is anything but a serious matter, the UK government has been warned on numerous occasions that its continued demonisation of the UK financial sector would at some stage backfire. It has taken a while for a major company to step forward and challenge the government's assessment of the situation but unfortunately for the UK financial sector, coming as EU regulators also look to reduce the power of London, the cracks are starting to appear.

Today we saw a number of prominent UK politicians and regulators stepping onto their soap boxes to yet again attack the UK financial sector at a time when maybe reconciliation and compromise should be the name of the game?

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