City needs to become better

The relationship between the City of London and the rest of the UK has never been easy. Post the credit crunch, it is likely to get a good deal pricklier. At a time when even the Governor of the Bank of England is openly questioning the City’s bonus culture, the pressure for a political response to the perceived excesses of the City could become irresistible. This makes Monday’s launch of the Liberal Democrat City manifesto by party leader Nick Clegg particularly noteworthy. It is the first att...