Silicon Valley in East London?

[d000hg]

It seems like probably it won't work too well, but investing in technology is probably the right idea generally for the UK - we're too populated to export significant agriculturally, and not sitting on economically viable natural resources. Hi-tech services is one of the things the country is set up for, with actually a pretty good infrastructure for broadband, etc.

A huge tax-break for companies investing in the north of the country would be better though in my mind. The NE has brilliant rail link to London, 2 international airports (3 counting Leeds) and good motorways. Plus it's the area of the country most needing private sector jobs.

[CheeseSlice]

My only dislike of DC's idea is for it to be in East London - it needs to be much easier to commute from Heathrow.

‘Boris Island’ airport may replace Heathrow

This + east london silicon valley... is there a bigger picture here?

The plot thickens.

[kandr]

WDHS

Put something like this in an area that needs redevelopment/investment. Wales perhaps or the South

Or round the corner from my house.

[nomadd]

If they don't stop visa abuse and excessive outsourcing most of IT jobs will be shipped much further east than Whitechapel anyway.

Nope, the jobs will still be here in the UK. They'll just be being done by someone shipped in from much further east than Whitechapel.

DC's announcement seems to be just more of the same nonsense we've had under Labour: outsource/insource all our skilled jobs to foreign workers, leaving the UK's population with the menial jobs of making their sandwiches.

[MarillionFan]

The man is in cloud-cuckoo land.

Still. He couldn't pick a better location. Plenty of cheap housing, good transport links, lots of green field sites.

"White heat of technology" anyone?

WDHS

Put something like this in an area that needs redevelopment/investment. Wales perhaps or the South

[configman]

That's a great idea!

Attract a load of foreign entrepreneurs who will set up companies in East London and then use the inter-company transfer rules to bring in loads of cheap labour from their company's (third world) home country. Of course the entrepreneurs will all be entitled to claim non-domiciled status and send their profits off shore to a tax haven so they won't pay any tax in the UK anyway. Nice little earner for them, they'll be a great success and pay almost no tax. In return they they give big donations to the Tory party, get given a knighthood and a seat in the house of lords for "services" to the country and (wink wink, nudge nudge) start paying UK tax at last (or something).

That's a great idea for Britain, though I think it's been done before.

There is no doubt in my mind that the UK is losing out to big investment because we do not have a world renowned business park - except Slough, Bracknell, and Milton Keynes. Why throw away contract opportunities and investment because undoubtedly some of them will abuse the visa system - this could be like cutting your nose of to spite your face. The visa issue needs to be dealt with seperately. There will be opportunities for contractors. UK has built many business parks but none world renowned - we have a world renowned financial district in London and look what benefits that has brought (current climate excepted of course). My only dislike of DC's idea is for it to be in East London - it needs to be much easier to commute from Heathrow.

I've had pleasure in visiting/working in some of Beijings, and Shenzhens business parks. Just take Shenzhen for example just one of its many business parks has Huawei, ZTE, Cisco, Siemens, IBM, Microsoggy, Alcatel, HP etc etc - oh and they pay western rates to get the best from around the world. They have not gone there for cheap labour but because it is a great location and becoming world famous which they want to be associated with and they get supported by the Government. The knock on effect to local wealth is enormous - it was a small village 30 years ago and now 8 million citizens. It's bigger than London.

[Wanderer]

After Camerons announcement today, what do you think about it all?
Will it happen? Good or Bad for contractors?

That's a great idea!

Attract a load of foreign entrepreneurs who will set up companies in East London and then use the inter-company transfer rules to bring in loads of cheap labour from their company's (third world) home country. Of course the entrepreneurs will all be entitled to claim non-domiciled status and send their profits off shore to a tax haven so they won't pay any tax in the UK anyway. Nice little earner for them, they'll be a great success and pay almost no tax. In return they they give big donations to the Tory party, get given a knighthood and a seat in the house of lords for "services" to the country and (wink wink, nudge nudge) start paying UK tax at last (or something).

That's a great idea for Britain, though I think it's been done before.

[Francko]

Impressively stupid idea. It may be a run down dump, but it's still savagely expensive and transport links to there are congested to hell and back.

If nothing else a large number of the IT and technology companies in the South East are located around the M4 which isn't exactly handy for the East End.

If they don't stop visa abuse and excessive outsourcing most of IT jobs will be shipped much further east than Whitechapel anyway.

[TykeMerc]

Impressively stupid idea. It may be a run down dump, but it's still savagely expensive and transport links to there are congested to hell and back.

If nothing else a large number of the IT and technology companies in the South East are located around the M4 which isn't exactly handy for the East End.

[RichardCranium]

After Camerons announcement today, what do you think about it all?
Will it happen? Good or Bad for contractors?

East London to rival Silicon Valley, says Cameron - Channel4 News

The man is in cloud-cuckoo land.

Still. He couldn't pick a better location. Plenty of cheap housing, good transport links, lots of green field sites.

"White heat of technology" anyone?

[ITContractorUK]

After Camerons announcement today, what do you think about it all?
Will it happen? Good or Bad for contractors?

East London to rival Silicon Valley, says Cameron - Channel4 News