Vince Cable, so very wrong on London and on business

So Vince Cable believes that “London is …. draining the life out of the rest of the country.”.  Really?!?

I could understand a bit of London bashing from a representative of one of our other great cities.  They would be wrong to do so but it would at least be understandable.  I could understand a bit of London bashing from someone who didn’t understand how business worked, who believed that commerce is a zero sum game.  They would be wrong to do so but it would at least be understandable.

London bashing from a London MP who is also the Secretary of State for Business is both shocking and inexcusable.

John Humphrys asked Cable if he was going to resign over a third runway at Heathrow, a better question would be “are you going to resign for being so clueless about both London and business?”.

We will not make our other cities stronger by damaging London, they will benefit from a strong and vibrant national economy and the success of London is key to that.  London’s competitors are the international business centres in Europe, the USA, Asian, Latin America and increasingly Africa, it is hugely worrying that Cable thinks that Birmingham, Manchester, Liverpool, Edinburgh etc are competitors rather than allies.

One response to “Vince Cable, so very wrong on London and on business

  1. No really. To what extent could London be said to be an ally of the rest of the country? Let’s just look at the scale of just some of the headline pump-primed public sector investments that have gone into London in the last 10-15 years:
    Jubilee Line extension
    East London Line
    Millenium Dome
    Heathrow Terminal 4
    Crossrail
    Thameslink
    High Speed 1
    Kings Cross-St Pancras development
    The Olympics
    Wembley Stadium
    Excel Arena
    London Underground refurbishment
    M25 widening
    Boris Johnson’s billion pounds on cycling lanes
    The recent approval of the northern line extension
    And now London wants a new £60bn+ airport and Crossrail 2 and HS2.
    Does it ever end?
    Do the regions have anything to compete with that?

    Look at the city of Liverpool for example. It’s historic strength was not in just industries that have bit the dust but in services like insurance and finance – all moved to London. People quote the GDP figure for the city as if that proves anything but it doesn’t. It just shows that when you focus investment in one place, private capital follows.

    London is a parasite and I say that as someone who’s been living here for 15 years.

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