Despite all the boosterish talk and the pledge to deliver a Big Bang 2.0, the City has been braced for disappointment with the new Liz Truss government. After all, Boris Johnson had promised something similar and the delivery failed to live up to its billing (even ignoring Brexit).

A great supporter of the City while mayor of London, Johnson was fairly cautious as prime minister, steering clear of politically toxic issues such as the cap on bankers’ bonuses. How much more difficult would it be for Truss to be seen as the bankers’ friend in the middle of a cost of living crisis?