Comments for John Redwood's Diary http://johnredwoodsdiary.com Incisive and topical campaigns and commentary on today's issues and tomorrow's problems Thu, 23 Feb 2012 07:38:56 +0000 hourly 1 Comment on Should the west be prepared to consider military intervention in Iran? by backofanenvelope http://johnredwoodsdiary.com/2012/02/21/should-the-west-be-prepared-to-consider-military-intervention-in-iran/#comment-85906 backofanenvelope Thu, 23 Feb 2012 07:38:56 +0000 http://johnredwoodsdiary.com/?p=11143#comment-85906 But have they got any boots? But have they got any boots?

]]> Comment on London as the world’s Number One Financial centre. by Adam5x5 http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85902 Adam5x5 Thu, 23 Feb 2012 06:41:24 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85902 But to sum up, speculation basically smooths the price curve and moves the price rises around in time. It also happens to be a zero sum game - for every 'short' position, there must be an equal 'long' position by definition. But to sum up, speculation basically smooths the price curve and moves the price rises around in time.

It also happens to be a zero sum game – for every ‘short’ position, there must be an equal ‘long’ position by definition.

]]> Comment on London as the world’s Number One Financial centre. by Adam5x5 http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85901 Adam5x5 Thu, 23 Feb 2012 06:38:29 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85901 I'm an engineer, not an economist, so I'll leave it to a well known one (Adam Smith) Start at para 40 and go from there http://econlib.org/library/Smith/smWN15.html#B.IV,%20Ch.5,%20Of%20Bounties I’m an engineer, not an economist, so I’ll leave it to a well known one (Adam Smith)

Start at para 40 and go from there

http://econlib.org/library/Smith/smWN15.html#B.IV,%20Ch.5,%20Of%20Bounties

]]> Comment on Water bills and shortages by Adam5x5 http://johnredwoodsdiary.com/2012/02/23/water-bills-and-shortages/#comment-85900 Adam5x5 Thu, 23 Feb 2012 06:21:05 +0000 http://johnredwoodsdiary.com/?p=11162#comment-85900 Competition would also help with the leakage rates. I remember seeing a news report a few years ago saying Thames Water (or whoever it is in the SE) had a leakage rate of 50%... Could you imagine a bakery running if 50% of the loaves produced were simply thrown away straight from the oven? Though this doens't really affect me very much - I live in Wales, where the rain never ends... Competition would also help with the leakage rates.

I remember seeing a news report a few years ago saying Thames Water (or whoever it is in the SE) had a leakage rate of 50%…
Could you imagine a bakery running if 50% of the loaves produced were simply thrown away straight from the oven?

Though this doens’t really affect me very much – I live in Wales, where the rain never ends…

]]> Comment on London as the world’s Number One Financial centre. by lifelogic http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85899 lifelogic Thu, 23 Feb 2012 06:19:15 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85899 Indeed they fiscally mugged and destroyed the pension savings of millions. Indeed they fiscally mugged and destroyed the pension savings of millions.

]]> Comment on London as the world’s Number One Financial centre. by uanime5 http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85898 uanime5 Thu, 23 Feb 2012 02:17:24 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85898 I managed to find a fact sheet by the City of London itself that explains just how valuable it is. The entire financial services industry account for 10% of GDP and provides 11.2% of total government tax receipts (includes taxes paid, as well as taxes collected, by the sector). However the City only account for 2.4% of GDP and it doesn't say how much it contributes in tax revenue. So it's safe to say that it doesn't produce large tax revenues. Regarding jobs in 2009 it employed 316,700 people in 12,755 companies, though 10,280 companies had less than 10 people. This means over two thirds of people in the City work in 2,475 companies. Also as 30 million people are employed in the UK only 1% work in the City, so it not a major employer either. http://www.cityoflondon.gov.uk/Corporation/LGNL_Services/Business/Business_support_and_advice/Economic_information_and_analysis/Research+and+statistics+FAQ.htm I managed to find a fact sheet by the City of London itself that explains just how valuable it is.

The entire financial services industry account for 10% of GDP and provides 11.2% of total government tax receipts (includes taxes paid, as well as taxes collected, by the sector). However the City only account for 2.4% of GDP and it doesn’t say how much it contributes in tax revenue. So it’s safe to say that it doesn’t produce large tax revenues.

Regarding jobs in 2009 it employed 316,700 people in 12,755 companies, though 10,280 companies had less than 10 people. This means over two thirds of people in the City work in 2,475 companies. Also as 30 million people are employed in the UK only 1% work in the City, so it not a major employer either.

http://www.cityoflondon.gov.uk/Corporation/LGNL_Services/Business/Business_support_and_advice/Economic_information_and_analysis/Research+and+statistics+FAQ.htm

]]> Comment on London as the world’s Number One Financial centre. by uanime5 http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85897 uanime5 Thu, 23 Feb 2012 02:03:28 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85897 The entire financial services industry accounts for 10% of GDP and used to be much less. It has never kept the UK afloat. The entire financial services industry accounts for 10% of GDP and used to be much less. It has never kept the UK afloat.

]]> Comment on London as the world’s Number One Financial centre. by cosmic http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85894 cosmic Wed, 22 Feb 2012 23:36:46 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85894 There is a view that the City of London is a state within a state and can go its own way. http://www.parker-joseph.com/pjcjournal/2011/12/16/why-the-city-of-london-will-not-be-controlled-from-brussels/ I wouldn't like to say how accurate that article is, but assuming it's not total nonsense, it's no surprise the City of London Police have expensive luxury pursuit vehicles if they feel like it and if their masters allow it. There is a view that the City of London is a state within a state and can go its own way.

http://www.parker-joseph.com/pjcjournal/2011/12/16/why-the-city-of-london-will-not-be-controlled-from-brussels/

I wouldn’t like to say how accurate that article is, but assuming it’s not total nonsense, it’s no surprise the City of London Police have expensive luxury pursuit vehicles if they feel like it and if their masters allow it.

]]> Comment on London as the world’s Number One Financial centre. by zorro http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85893 zorro Wed, 22 Feb 2012 23:12:52 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85893 Try doubling it...... http://www.money-go-round.eu/Country.aspx?id=UK zorro Try doubling it……

http://www.money-go-round.eu/Country.aspx?id=UK

zorro

]]> Comment on London as the world’s Number One Financial centre. by zorro http://johnredwoodsdiary.com/2012/02/22/london-as-the-worlds-number-one-financial-centre/#comment-85891 zorro Wed, 22 Feb 2012 23:05:51 +0000 http://johnredwoodsdiary.com/?p=11150#comment-85891 That's silly. RBS was a basket case and should have been put into administration. Unfortunately Gordon bailed it out.....a bad choice zorro That’s silly. RBS was a basket case and should have been put into administration. Unfortunately Gordon bailed it out…..a bad choice

zorro

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