UK subsidised by City: report

first_img Tags: NULL KCS-content whatsapp Monday 24 January 2011 9:05 pm LONDON contributes far more to the Exchequer than it receives in public spending, a report will say today.The capital is estimated to have made a £1.4bn net contribution to the public purse in 2009-10, according to new research published by the City of London Corporation.The report said no other region makes a net positive contribution – the UK in the aggregate has a huge budget deficit as a result. And 21 per cent of all the UK’s economic growth is driven by business activity in the city, researchers at Oxford Economics found.London’s contribution is forecast to rise substantially by 2015-16 with the financial and business services sector a core driver of growth.“This report demonstrates London’s ongoing importance for wealth generation at a time when the government is attempting to reduce the overall UK budget deficit and promote growth across the economy,” said Stuart Fraser of the City of London Corporation.“However, concerns over higher taxation, increased regulation, infrastructure issues and immigration need to be addressed if we are to sustain London’s pre-eminence in global financial and business services,” he added. UK subsidised by City: report center_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads whatsapp More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Sharelast_img

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