Theresa May’s trip to Wall Street last month was not a resounding success.

By all accounts, she turned up to hear what the bankers had to say about Brexit and they turned up to hear what the new British Prime Minister had to say on the matter – consequently, not much got said. Neither side was particularly impressed with the other. Tempers started fraying.

And then one of May’s contingent made matters worse by saying that the UK Government understood the importance of the City and was taking the bankers’ concerns on board, but, let’s be honest, none of you guys are going to be moving to Frankfurt anytime soon.

There was a similar dialogue (if that is the right word and it almost certainly isn’t) during a financial services panel discussion at the Conservative Party conference in Birmingham last week: bankers repeatedly said that they might have to move City jobs to the continent in the event of a “hard” Brexit and Tory MPs repeatedly insisted that they won’t.

What we’ve got here is a failure to communicate.

It’s hard to blame the politicians for assuming the bankers are crying wolf – again. How many times have we heard banks say they are going to take their ball and play somewhere else if they don’t get their way?