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The City has contributed to the UK's growth (and funded its wars) for nigh on 400 years, current mistakes notwithstanding.
A lot have companies have their registered offices in London and the sarf east but that does not mean their main bussiness is conducted there. So figures on the proportion of tax contribution from that economic region can be misleading
The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”
With the banks failing and the burden on the public purse it could be argued London and the City is be subsidised by the UK taxpayer
The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”
I thought that both Scotland & Wales received a net "credit" when all was taken into account.
I can't remember who said it or where though...
Nope. there is a thing called the "Barnett Formula" which is a way of organising some parts of the allocation of resources to several parts of the UK, including Scotland and Wales and regions of England. If you consider the Barnett Formula in isolation, it does look as if there is a "net" credit to the regions, including Scotland and Wales. This is a fallacy (I almost typed "farce") because this formula takes no account of any income at all. It's a bit like saying there is a net credit from me to the office where I work, because the only flow of cash that you can see is from me to the office canteen!
Originally posted by MPwannadecentincome
how do you think Scotland can give free university education and how does Wales and Scotland have free prescriptions
By allocating some of their resources to that rather than to other expenses. England could do the same but chooses other expenditure, such as capital expenditure in London. This is entirely independent of what the net flow of funds from here to there might be.
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