Economy

Statist bankers who think Corbyn in power would be okay are deluded

BY Gerald Warner   /  6 September 2019

It was a headline to make the most insouciant reader rub his eyes in disbelief: “Corbyn better than no-deal Brexit, say investment banks as anti-capitalist Labour wins unlikely new City fans.” And it was in the Torygraph this week, too.

To any capitalist, in the true sense of the word, even the headline “Corbyn better than collision with Mars” would lack credibility. Yet two major investment banks, Citibank and Deutsche Bank, have now concluded that a Jeremy Corbyn-led government in Britain would be preferable to the UK leaving the European Union on WTO terms.


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