'Trash the banks and you trash Britain': PM's words on economy

clock

David Cameron has issued one of his strongest defences of the banking sector yet, telling the Lord Major's banquet those who "trash the banks would end up trashing Britain".

In a speech traditionally focussed on foreign policy, Cameron said while technology and manufacturing would fuel Britain's economic recovery, it was important to support the country's banking system. "Right now Britain is in a global race," he said. "It is a moment of reckoning for every country. Sink or swim. Do or decline." Camerona added: "Pursuing a modern industrial strategy doesn't mean being anti-finance. Some utterly terrible mistakes were made, and they need to be addressed properly so they can never happen again. "But those who think the answer is just to trash the banks,...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why higher bond yields aren't causing a Mini-Budget meltdown

Why higher bond yields aren't causing a Mini-Budget meltdown

'One thing we know about Rachel Reeves is she will live or die by her fiscal rules'

Laith Khalaf
clock 07 October 2025 • 5 min read
City 'has lost sympathy with this Labour government' - George Osborne

City 'has lost sympathy with this Labour government' - George Osborne

Former chancellor defends the OBR

Michael Nelson
clock 01 October 2025 • 3 min read
Labour remains 'unequivocal in our commitment to economic responsibility' - Chancellor

Labour remains 'unequivocal in our commitment to economic responsibility' - Chancellor

Rachel Reeves was speaking at the Labour Party conference

Linus Uhlig
clock 29 September 2025 • 3 min read