Gordon Brown to announce closure of the City of London

[AtW]

They won't leave en masse until they see what upcoming Tory Govt will do, which I am sure won't be much and things will return to "good" old days shortly

[The Lone Gunman]

Sorry all this talk of hedge funds bailing out of London, needs to be backed up with some facts:

http://www.wealth-bulletin.com/wealt...nt/1055110307/

2% of hedge funds have left London so far ...

Not saying the possibility isn't there, but FFS can we stop turning into the Daily Wail.

And companies aren't going to stop listing on London Exchanges because bankers bonuses get deferred, they'll stop because the fees get too much or regulation costs to much etc. They're all here at the moment because financially it makes sense, and they can base themselves here and be surrounded by other potential clients/partners/deal makers etc.

The far east is going to grow (And I'm heading that way, gold rush here I come), but London is still and will be for the foreseeable future a financial powerhouse.

IMO

With Golden Clowns record I would suggest that he will implement some onworkable, half arsed, unclear and unsuitable legislation which will have myriad unforseen or unintended consequences which will make it impossible for the City and the banks to operate so they will all leave.
I suspect that GB and his ministers have not even considered the fact that these global businesses may abandon the UK if they see a commercial reason to go.

[sasguru]

what upcoming Tory Govt will do, which I am sure won't be much and things will return to "good" old days shortly

Indeed they will - wonder what my bonus will be next year!

[Sysman]

Is this the same city the taxpayer bailed out?

Nah we can do what Northeners do?
Actually what do Northeners do?

Pay our taxes for the next 3 decades to bail out the city that generates so much wealth

Sad but true.
Very sad indeed

[sasguru]

Sad but true.
Very sad indeed

Bollocks. These taxpayers bailing out the "non-productive" City -who do they work for?
There must be very few in manufacturing or any other real private sector wealth generator.
The majority must be public sector employees. And since they have their fat pensions, I don't worry too much about hitting them with extra taxes.

[BrilloPad]

Indeed they will - wonder what my bonus will be next year!

Bonus? I didn't know you were a permie?

[The Lone Gunman]

Bonus? I didn't know you were a permie?

How slow are you !!!!!!

[sasguru]

Bonus? I didn't know you were a permie?

Why would I want to earn a contractor's pittance?

[OwlHoot]

Brown was more than happy to indulge the City's activities without any thought for long-term implications. He'll react in a similar short-sighted way now. ...

Sorry if a dozen people have pointed this out later in the thread, but I'm bungy posting today.

Brown is all mouth, and just because he announces grandiloquent plans doesn't mean he has any intention of carrying them through.

This is just about throwing a bit of red meat to the slavering growling left-wingers at the party conference.