Monday, September 23, 2013

I love London but it does suck the life out of the rest of the country

UK growth? Make London independent to mend the north-south divide

Alternatively, make London raise its own revenue and stop the roundabout of sending welfare up North then taxing it to send it back South to pay for London's exquisite infrastructure. But apparently Localism means only local decisions, not local taxation to the Tories

Posted by mombers @ 11:48 AM (1675 views)
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8 thoughts on “I love London but it does suck the life out of the rest of the country

  • T’was ever thus.

    If you watch TV programmes about ancient cities, the richest ones were always the capital cities or trading hubs, ports, harbours, on “the silk road” etc.

    And land values were always the highest in those places (a measure of how much wealth they sucked out of their hinterland). You can tell because the plots of land were tiny and even the richest and most powerful people made do with small gardens (or courtyards), they were the first places to have multi storey houses.

    Also interesting is that if and when those centres were ransacked, flooded, became obsolete or their empires crumbled, the cities can just disappear and the high land values evaporate with them.

    One pharoah actually shifted his whole capital city brick by brick a hundred miles to the north when its branch of the Nile silted up. Clearly, land values in the old place fell to nothing and all of a sudden land a hundred miles north rocketed in value.

    http://en.wikipedia.org/wiki/Pi-Ramesses

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  • Alternatively abolish the City of London Corporation and turn it into a regular borough council with no tax haven privileges. As advocated in Nick Shaxson’s book on Tax Havens, “Treasure Islands”. Not holding my breath for Miliband to advocate that though. Way too much dirty money inflow is at stake.

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  • The article author states

    “The reality is that London is a separate country. Perhaps we should make it official.”

    Perhaps he should consider:

    “One of the biggest and most important tax havens for the entire global system is the City of London, a square-mile section of the UK’s capital city that gets special treatment under the law—and hosts many of the world’s largest financial institutions. Almost no one knows the City of London’s special jurisdictional status because the City has lobbied hard to protect its secrecy and secure special exemptions from key national legislation like the Freedom of Information Act. ”

    from http://www.therules.org/en/actions/launch-petition or click this

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  • @doomwatch
    I signed the petition! That ought to do it …
    N

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  • LVT could facilitate decentralisation and rural business locations. Without LVT lower rents in decentralised locations don’t help much because decentralised businesses and workers still have to pay some of the same taxes paid by those in centralised locations. To get more decentralisation you’d need negative rents to compensate for for being away from a large market and a labour supply and for paying these taxes. Or you could just have LVT as a single tax.

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  • mark wadsworth says:

    Icarus: “LVT could facilitate decentralisation and rural business locations.”

    Ah yes, I can see your mistake here, you’re assuming that a policy which would benefit three-quarters of the UK is A Good Thing. It is not, because it would snatch away wealth from the “hard pressed hard working landowners” in London & South East (as well as their best mates, the bankers and so on) and “destroy capital”.

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  • leave london for the tourists and the old… As the young can’t afford to stay the business will eventually have to move out or die with the last retireees

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  • “The reality is that London is a separate country. Perhaps we should make it official.”

    Tell you what, London can keep the City if the rest of us can have control of HM Armed Forces. Sounds fair to me.

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