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Corbyn declares war on the city

Jeremy Corbyn yesterday declared war on Britain’s valuable banking sector – agreeing with critics that he is a threat to the industry if elected Prime Minister.

The Labour leader singled out Wall Street lender Morgan Stanley after it warned that his hard-Left policies would be catastrophic for the economy and were more dangerous than the risks from Brexit.

Mr Corbyn took aim at Morgan Stanley chief executive James Gorman, who lives in New York. He said: ‘Nurses, teachers, shop workers, builders, just about everyone is finding it harder to get by, while Morgan Stanley’s CEO paid himself £21.5 million last year and UK banks paid out £15 billion in bonuses.

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Labour leader Jeremy Corbyn, pictured, has said he would target major banks like Morgan Stanley if he manages to get elected to 10 Downing Street following the next election

Labour leader Jeremy Corbyn, pictured, has said he would target major banks like Morgan Stanley if he manages to get elected to 10 Downing Street following the next election

Mr Corbyn said he was a 'threat to a damaging and failed system that's rigged for the few'

Mr Corbyn said he was a 'threat to a damaging and failed system that's rigged for the few'

‘Labour is a growing movement of well over half a million members and a government-in-waiting that will work for the many. When they say we’re a threat, they’re right.

‘We’re a threat to a damaging and failed system that’s rigged for the few. Bankers like Morgan Stanley should not run our country, but they think they do.’

Many campaigners rail against sky-high pay in the City but it is nonetheless a global powerhouse which rakes in huge sums for the Treasury. Financial services firms paid a record £72.1 billion in taxes during the year to March 31 – 11 per cent of the total given to the Exchequer.

Earlier this week, Morgan Stanley analysts said: ‘For the UK market, domestic politics may be perceived as a bigger risk than Brexit.

‘From a UK investor perspective, we believe that the domestic political

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