Labour’s idea set to rebalance economy

What does our biggest city outside London have in common with those other great conurbations?They are not national capitals. But New York and Frankfurt are their countries’ high quality replica handbags main banking and financial centres and, if Labour get cheap replica handbags their way, Birmingham could soon be joining them.Shadow Chancellor John McDonnell is backing plans for much of the Bank of England, including the governor’s office, to be relocated from London to Birmingham. With it would come a new national investment bank and Replica bags the secretariat and research departments of a strategic investment board, of which the chancellor, the business secretary and the governor would purse replica handbags be leading members.The Brexit debate reminds us our national capital is one of the world’s most important business centres so anything that diminishes its significance may be considered damaging to the national interest.You can bet many bankers and treasury mandarins would resist replica handbags online any move just as fiercely as some Channel Four television executives currently oppose the idea of relocating them out of London. A hundred years ago, the treasury strenuously objected to the establishment of the Birmingham Municipal Bank.That was one battle they Designer Replica Bags lost.So let’s indulge ourselves, just for a moment or two, aaa replica designer handbags in what poet and philosopher Samuel Taylor Coleridge called “the willing suspension of disbelief”.”Go for KnockOff Handbags it!” Replica Designer Handbags says the chair of the national infrastructure commission, the former Labour Wholesale Replica Bags Education and Transport Secretary Lord (Andrew) Adonis. “It’s the Bank of England not Handbags Replica the Bank of London”.He suggests it should be built next to the HS2 station due to open in Curzon Street in https://www.isbags.ru nine years’ time.Just in case this seems like some madcap flight of fantasy, it’s worth reminding ourselves that Birmingham Fake Handbags can already lay claim to a distinguished history in banking. Lloyds Bank was founded in the city in 1756.Thirty eight years later the world’s first mint opened in the city.From 1919, the Birmingham Municipal Bank went on to challenge replica handbags china the dominance in the city of Britain’s “big five” banks for more than half a century.And now HSBC and Deutsche Bank’s trading division are promising huge investments in and around Birmingham’s replica Purse answer to Canary Wharf, currently under construction at Arena Central near Broad Street. 4,000 people will work in HSBC’s new 200 million UK headquarters, due to open in the new year.Their Chief Executive wholesale replica designer handbags Antonio Simoes says Birmingham is “a growing city” with the “expertise and infrastructure” to support the bank.Its business, professional and financial services sectors account for over 500 companies.Last year, the Greater Birmingham Chamber of Commerce identified it as the biggest city economy outside London. Half a million people are employed in a local economy worth over 23bn.The Snow Hill Fake Designer Bags Masterplan envisages over 200,000 sq m of new office space, 4,000 new residential units and, not least, 10,000 new jobs over the next 20 years.The chair of the Greater Birmingham and Solihull Local Enterprise Partnership, Tim Pile, tells us:”With the region’s unparalleled connectivity and access to markets set to be bolstered by HS2 and Replica Bags Wholesale further infrastructure investments, its attractiveness to financial services firms shows no signs of slowing down.”Welcoming organisations like the bank of England here would add to the already vibrant environment for businesses and Replica Bags the public sector.”So does this all still sound like just so much pie in the Designer Fake Bags sky?Maybe our disbelief should remain suspended for just a little longer.We’ll have more on this in this weekend’s Sunday Politics Midlands at 11.00 on Sunday morning, 17 December 2017. The BBC Replica Handbags is not responsible for the content of external sites. Read about our approach to external linking.

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