Writing for The Guardian Today, Vince Cable began writing an opinion piece arguing that Britain should remain in Europe because “for centuries” it has “developed economically as an open, outward-looking country.”
What a strange view of history. Britain may have been outward-looking, but only in the context of which parts of the globe to plunder.
But it was the next paragraph in Cable's article that really rang the alarm bells.
I am more worried than Bank of England Governor Mark Carney about the risks of relying too heavily on financial services for growth, but I acknowledge that the single market means 60% of City-based companies are based in London and that it is important to protect it, given their power to influence UK rules.
Britain's “power to influence the rules”?!
If you need further evidence that the City of London is, at least nominally, a sovereign state, look no further.
All businesses operating in the UK must operate in accordance with the law, whatever that law may be. The government regulates every other industry sector, but in the case of the City, does it “influence” the City's rules?
Vince Cable sets out in one sentence where British sovereignty and his loyalties lie:
