There is still deep-seated public anger against the banks three years on from the financial crisis caused by their greed and stupidity, and from which the taxpayer bailed them out.

A report commissioned by The City UK showed that 56% of the public felt it would be no bad thing for the UK economy if bankers carried out their threat to relocate, although the tax they pay on their earnings is appreciated.

The banks have been forced to set aside £7.4 billion to compensate customers who were mis-sold payment protection insurance (PPI) by bank sales staff anxious to earn a turn. More than £3 billion of this is accounted for by Lloyds, the taxpayer- subsidised group run by former Santander executive Antonio Horta-Osorio for the pittance of around £5 million a year, and which, in the personal experience of the writer, still has lots to learn about sales ethics.

And more courageous un-named bankers have been whining to the press that the £7 billion cost of the reasonable and long-overdue reforms to stop another financial meltdown and bail-out will need to be raised from the withdrawal of free banking, though quite how the banking cartel intends to do this without infringing Competition Law has not been revealed.

Meanwhile the Bank of England has disclosed that there are some (un-named) banks that will still expect another bail-out from the taxpayers they are squeezing to fund their profligate life-styles, in the event of another crisis.

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