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    Labour may move parts of Bank of England to Birmingham.

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    papa_umau
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    Labour may move parts of Bank of England to Birmingham.

    Post by papa_umau on Tue 12 Dec 2017, 11:33 am

    The BOE to move, in part to Birmingham.

    The old lady of Threadneedle Street may have to leave her home of 283 years under Labour plans to move large parts of the Bank of England to Birmingham.

    A report, commissioned by Labour, claims banks have distorted the economy by lending to "unproductive sectors".

    Shadow chancellor John McDonnell said the current financial system was not delivering investment across the UK.

    The report said that moving areas of the Bank to the Midlands would help create a "new economic policy hub".

    It calculates that investment in UK manufacturing, high-tech companies and other "critical sectors" lags behind property by 28bn.

    Read the full article on this proposal from The BBC HERE




    I am sure that many people, especially in the North of the country, feel that many important centres of employment and investment are London-centric, and this could be the start of many de-centralisation moves of the future.

    Comments anyone.


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    zathrus
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    Re: Labour may move parts of Bank of England to Birmingham.

    Post by zathrus on Thu 14 Dec 2017, 11:58 am

    What a good idea.

    I would in fact like to see many more companies moved from the South of England to the North.

    Interesting fact: London has recently been reported to now have nine million people living, or trying to make a living there.
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    papa_umau
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    Re: Labour may move parts of Bank of England to Birmingham.

    Post by papa_umau on Fri 15 Dec 2017, 11:46 am

    Yes, the jobs are concentrated down in the South of the country and yet the cost of living down there is much higher than the rest of the country,

    We have plenty of room up here in Scotland with only about a seven million population in the whole country.


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    Angie baby
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    Re: Labour may move parts of Bank of England to Birmingham.

    Post by Angie baby on Sat 16 Dec 2017, 11:31 am

    Maybe this is the start of an exodus away from expensive London and the South for many companies of the future. Twisted Evil
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    Hell's Granny
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    Re: Labour may move parts of Bank of England to Birmingham.

    Post by Hell's Granny on Sun 17 Dec 2017, 3:09 pm

    I've been saying this for years. too much is centred in London, causing great pressure on the infastructure and prices in the capital.

    In my view, Birmingham would be an ideal place to resite the BofE. Birmingham has the largest Hallmarking centre in Britain, and there is a railway line which links directly to the Gold vaults there.

    I would like to see a lot more 'devolved' from London. Main stream Media for starters; the BBC started it some years ago with large TV Centres in Manchester and Cardiff. Getting the newspapers out of London would be good too. Maybe it would show then there is very intelligent life outside the M25.

    It is high time the rest of Britain got a slice of the cake.
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    papa_umau
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    Re: Labour may move parts of Bank of England to Birmingham.

    Post by papa_umau on Tue 19 Dec 2017, 1:08 pm

    Well, let's hope that at the next GE, the North vote the Tories down,


    Last edited by papa_umau on Sun 24 Dec 2017, 11:43 am; edited 1 time in total


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    Angie baby
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    Re: Labour may move parts of Bank of England to Birmingham.

    Post by Angie baby on Sat 23 Dec 2017, 11:53 am

    I hope so too.
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    Re: Labour may move parts of Bank of England to Birmingham.

    Post by papa_umau on Sun 24 Dec 2017, 11:45 am

    Eventually, many of the businesses that are cutting each other's throats down South would be much better off re-locating to the midlands or the North.


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