The Engine of Tax Revenue Is Going to Come From London

From 1979 onwards, Thatcher and Blair gave tax cuts to the rich. They also blew on German cars with North Sea Oil funding. The Norwegians put this into a sovereign wealth fund under the mattress. Brits said, you know what we do? We give it all away in tax cuts. So they sold little bits of England back to themselves. That model at least made some sort of national sense. But now things are leveling down - because London is creating an engine of growth. And that's going to generate lots of taxes which will pay for the leveling up.