When Iain Anderson, the boss of an influential lobbying firm, said he was quitting the Conservative Party after almost 40 years, the move came as little surprise to some City figures, who claim it indicates a widespread disillusionment with government across the Square Mile.

Anderson, founder of Cicero and the government's former LGBT business champion, said on 13 February he was defecting to the Labour Party, citing its strengthened relationship with business as a key factor behind his decision.