A Swiss banking boss just hit the panic button over Jeremy Corbyn

Jeremy Corbyn and banking interior
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A senior executive at one of Switzerland’s oldest private banks has hit the panic button over Jeremy Corbyn.

“Very dangerous”

Heinrich Adami, who’s responsible for the UK operations of Banque Pictet & Cie, told the annual Private Banking Dinner:

Corbyn is very dangerous for big fortunes.

According to Bloomberg reports, the super-rich are more concerned about a Corbyn government than anything else, including Brexit. Lawyers have claimed that their wealthy clients are preparing to relocate at the prospect of a Corbyn administration. A boss at London law firm Forsters, Patrick Harney, has said:

It’s an increasing conversation for us with clients and some have got active plans to move if he’s elected. There have been no signs that Brexit would alter much for high-net-worth individuals, whereas we know a Corbyn government would bring changes.

But shadow chancellor John McDonnell said:

We’re giving them a long term investment strategy in which they’ll get a good rate of return… We won’t be ripped off anymore. All the plans we’ve put forward are based on recommendations of the Confederation of British Industry and others for the long-term investment that we need.

Read on...

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“A threat to a… failed system rigged for the few”

Corbyn has called out bankers on a number of occasions:

The last time the Labour leader posted this video, however, Jewish Chronicle editor Stephen Pollard accused him of antisemitism.

Since 2009, the top 1,000 families in the UK have increased their fortune by over 180%. Meanwhile, real wages for ordinary people fell 10.4% between 2007 and 2015. But Pollard suggested that Corbyn was actually talking about an elite Jewish conspiracy in the video.

Facing a huge backlash, Pollard later backtracked.

“This is very good”

On social media, some people were happy about the reaction from the banking boss:

A Corbyn-led government would indeed be a threat to the super-rich. Any serious administration must address spiralling inequality in the UK. By contrast, the new Conservative budget has provided a tax cut to the top 10% of households. They must think no one’s going to notice.

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Featured image via CNN/ YouTube and Pictet Wealth Management/ YouTube

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