LONDON may be Europe’s commercial capital, but not all Britons are thrilled about that. In a poll conducted in 2014, two-thirds of non-Londoners reckoned that London had a positive impact on the British economy as a whole, but fewer than a third thought London’s strength was good for their city. London lures skilled workers and productive companies away from other parts of Britain. It also lures workers and firms from across Europe—something that makes many Britons, both in London and beyond, bristle. Indeed, London’s mop-topped mayor, Boris Johnson, this week joined the campaign to persuade Britons to withdraw from the European Union.
London dominates Britain, accounting for 23% of its population and about a third of its economic output. The city grew to enormous size in the 19th and early-20th century, when it served as the political and economic hub of a global empire. The post-war decline in its population, a result both of the loss of empire and of policies intended to curb its growth, ended in the 1980s, when the globalisation of finance rejuvenated the city’s main industry. Greater London is the fifth-largest metropolitan...Continue reading
Source: Business and finance http://ift.tt/1TGUFLw
EmoticonEmoticon