London sucks the life out of Britain?

[DodgyAgent]

Here is the real truth behind his rant:



Austin Mitchell needs to get over it. It was thirty years ago that Thatcher alledgedly "ruined manufacturing". And how exactly did she do this? By swinging her handbag around and flattening the old steel forges?

To be fair she did undo engineering. Though this was largely as a result of us supporting inefficient industries from which she withdrew their protected nationalised status (that was making the country go bust). Because the country was bust there was no money to stimulate the economy by investing in infrastructure projects. The blame for this sits squarely on the previous administrations that allowed the Unions to control Industry.

As for financial services it is dishonest to say she destroyed one in order to subsidise the other. She simply removed the shackles that were imprisoning financial services and their growth was of their own making.

In hindsight if she was perfect and assuming the money would have been there in the first place then yes maybe we should have borrowed more to invest in infrastructure projects - however she was voted in to rid us of the dead weight of the Unions and nationalised Industries for which we will forever be in her debt.

[DimPrawn]

Easy - when banks can make lots of money by ripping customers off, playing on stock markets making money every nanosecond, then why would they invest into risky businesses with 5-7% ROI?

Exactly. Why invest in any business when you can make a fortune guessing where the price of oil will go in 1 nanoseconds time?

[vetran]

whinge whinge

Then start some businesses up there and stuff London.

Also don't send your Brats there tell em to get a job locally! Oh sorry there aren't any jobs because the MP's up north are rubbish!

Maggie removed the subsidies and our bloated Industry was unable to compete with other countries that had businesses that had invested in their infrastructure.

We have been supporting them ever since while countries without fresh water or decent sanitation take over our manufacturing and services.

Muppet :

Remember this ?

I was a fool to appear in Tower Block of Commons, says MP Austin Mitchell | Politics | guardian.co.uk

Everyone else including Dunkers & Mark Oaten just got on with it but Austin was too posh to live with real people or help. Never would get my vote.

[SupremeSpod]

As for financial services it is dishonest to say she destroyed one in order to subsidise the other. She simply removed the shackles that were imprisoning financial services and their growth was all based on deceit and magic beans.

ftfy

[SupremeSpod]

Exactly. Why invest in any business when you can make a fortune guessing where the price of oil will go in 1 nanoseconds time?

We don't quite have that latency but can certainly handle sub 3 usec.

[vetran]

Unhappy days are here again. In the fun factory we MPs are under extraordinary rendition and subject to regular doses of waterboarding. The latest began todaywith the publication of our allowance claims for the year up to April to add to the four years of greedy guzzle chronicled by the Daily Telegraph.

Yep complete muppet, imagine comparing being kidnapped and waterboarded with having your expenses audited (well scanned and the worst excesses thrown out with little chance of fraudulent activity resulting in prosecution). Arrogant champagne socialist.

Still stuck in the stocks | Austin Mitchell | Comment is free | The Guardian

[DodgyAgent]

ftfy

Fair point

[Scoobos]

"Here, Margaret Thatcher ruined manufacturing to serve the interests of a City keen to acquire assets overseas rather than investing in Britain."

I also have sympathy with this - especially given the recent revelations regarding her attitude to Liverpool to "strip her assets for London". This no doubt applied to most other northern cities.

Having visited London I also thought it was a great city with plenty to do and a cultural dream - now that I live nearby I've found that under the surface it is indeed a horrid vastly overpriced, grey place.

[Sysman]

Here is the real truth behind his rant:



Austin Mitchell needs to get over it. It was thirty years ago that Thatcher alledgedly "ruined manufacturing". And how exactly did she do this? By swinging her handbag around and flattening the old steel forges?

High interest rates and the strong pound did for a lot of manufacturing.

Most of the union trouble came from nationalised industries: steel, coal, car manufacturing etc.

[DodgyAgent]

"Here, Margaret Thatcher ruined manufacturing to serve the interests of a City keen to acquire assets overseas rather than investing in Britain."

I also have sympathy with this - especially given the recent revelations regarding her attitude to Liverpool to "strip her assets for London". This no doubt applied to most other northern cities.

Having visited London I also thought it was a great city with plenty to do and a cultural dream - now that I live nearby I've found that under the surface it is indeed a horrid vastly overpriced, grey place.

Grey it may be but at least most of the cars still have hubcaps to give the city a bit of shine