This is what the EU proposal to limit bank bonuses to one times salary is all about. BoJo recognises this but our useless MEPs, all of whom have gone native, support their EU paymasters. They warble the EU song about level playing fields. Its rubbish. Banking and finance are international businesses that can re-locate anywhere, Zurich, Dubai, Singapore or what the EU want, Paris or Frankfurt.
On TV we had one idiot Tory MEP stating she had worked for two US investment banks so knew what she was talking about. She did not say what job she had, possibly just a PA. In every successful hedge fund or investment bank there is an inner core of a handful of people who make it work. Its the same in IT and other high tech businesses. These handful of rainmakers create thousands for less talented people even PAs.
This will sharpen up the in/out EU debate no end as the London chattering classes, solicitors and others, realise how much of their business and lifestyle will disappear when these rainmakers decamp to Zurich etc. Even the North London Milliband communist intelegencia will be hit along with government officials ie the people who run our country. When I worked in the Civil Service in the early 1970s I was appalled how London centric it was and how few senior decision makers had ever been North of Watford.
When the IRA was blowing up pubs and buses in Birmingham and Leeds the London civil servants and MPs regarded it as if it had happned in Vietnam. When the IRA blew up a London restaurant, Airey Neave in the House of Commons car park and almost killed Thatcher and half her cabinet in Brighton the establishment's attitude changed over night. The London EU philes will soon be facing their Brighton bomb moment and that will be the real game changer on the EU.