Jeremy Corbyn vows to curb ‘power’ of the City

He attacked a generation of politicians who allowed the City to exert a ‘pernicious and undemocratic’ control over British politics.

Jeremy Corbyn warned that Britain's economy cannot be rebalanced without taking on the power of the financial sector (Aaron Chown/PA)

By Gavin Cordon, Press Association Whitehall Editor

Jeremy Corbyn has launched a new onslaught on the City of London, promising a Labour government would take decisive steps to make it the “servant of industry”, not the “masters of us all”.

In a speech to the EEF manufacturers’ organisation, the Labour leader warned that Britain’s “distorted, sluggish and unequal” economy cannot be rebalanced without taking on the power of the financial sector.