Andy Burnham warned of exodus of London bankers if he hits City with windfall tax of up to £60bn

Andy Burnham was warned that he could trigger an exodus of bankers from London if he backs calls from the TUC to impose a huge windfall tax on the City.

The Trades Union Congress is urging the Prime Minister-in-waiting to increase tax on the Square Mile by between £9 billion and £60 billion over four years as part of his radical rebalancing of Britain’s economy.