A Labour government led by Jeremy Corbyn would have a similar impact on UK banks’ earnings per share to that of a no-deal Brexit, Citi analysts have claimed. The analysts’ note attributed the predicted impact to "a fall in business investment, housing controls, less cost flexibility and higher taxes" associated with "business unfriendly" policies under Corbyn's leadership. Citi predicted the impact would only be on domestic banks, as international banks would be boosted by a potential fall in sterling. Labour is currently ahead of the Conservatives in polls and a general election in five years is thought increasingly likely.
A Labour government led by Jeremy Corbyn would have a similar impact on UK banks’ earnings per share to that of a no-deal Brexit, Citi analysts have claimed. The analysts’ note attributed the predicted impact to "a fall in business investment, housing controls, less cost flexibility and higher taxes" associated with "business unfriendly" policies under Corbyn's leadership. Citi predicted the impact would only be on domestic banks, as international banks would be boosted by a potential fall in sterling. Labour is currently ahead of the Conservatives in polls and a general election in the coming months is thought increasingly likely.