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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (54195)	8/27/2009 11:00:59 AM
From: Maurice Winn	3 Recommendations Respond to of 218005

If we want to cut socially useless Lords such as Lord Turner down to size, and make their pay comparable with regular humans and to match their intellect and social contribution, we need a Lord-specific tax. Angela has it right: <Angela Knight, chief executive of the British Bankers' Association, disagreed with Lord Turner's comments about being "wary" of protecting the City's competitive advantage. She told BBC Radio 4's Today programme: "I think that if we say we do not want to have an international, competitive industry here, then we will do to financial services what we have done to manufacturing and engineering in the past and that is have it as a minor industry and lose it to others." > Britain has got rid of engineering, car making vast amounts of industrial output and other economically useful activity. They got rid of the Great in Great Britain. Now Lord Turner wants to get rid of another big part and presumably go back to making buggy wheels and hats for fox hunting. <He said that the City had grown "beyond a reasonable size", accounting for too much of British output and taking away too many of the country's brightest graduates. It should be cut down to size through new taxes if necessary, he said during a round-table discussion organised by Prospect magazine. > Hong Kong will no doubt be willing to let financiers set up shop there instead of London. "Great Hong Kong" doesn't seem quite right somehow. Honking Great Hong Kong has an Americanized ring to it though. Mqurice