London’s “socialistic” corporate governance rules have taken the “edge” off capitalism in Britain, the chief executive of Wizz Air has said. József Váradi said that London “has lost a bit of its mojo when it comes to capitalism” as a result of bureaucratic and burdensome red tape. He told the Telegraph: “There is work to be done to make sure it remains effective for companies. It has become somewhat socialistic. American corporate governance is more pro-capitalist, whereas UK corporate governance has lost some of its edge. A gap has opened up.” Mr Váradi will celebrate the discount airline’s 20th anniversary this week by ringing the opening bell at the London Stock Exchange (LSE). He stressed that Wizz Air remained committed to London, even as rivals such as Tui quit the market. However, the Hungarian executive said changes were needed to stop businesses worth hundreds of millions of pounds quitting the stock market. He said: “We are happy with our London listing. When looking at European capital markets I think, still, that London is the right market for a business like ours. This is where the capital is concentrated and where there is most interest in investing in airlines. “But being more...