...financial centre? and operated with full commercial freedom like Hong Kong and Singapore
Here is my guess:
The authority do not veto RBS bonus
The Treasury collects huge corporate and income taxes from those banks and bankers doing their busines of high banking,financing and investment banking.
Allow fat cats to plow the streets of London rather than they plowing the cities of the world.
Able to see bubble forming in London itself and not sure when and where financial bubble will form in any part of the world.
Here is my guess:
The authority do not veto RBS bonus
The Treasury collects huge corporate and income taxes from those banks and bankers doing their busines of high banking,financing and investment banking.
Allow fat cats to plow the streets of London rather than they plowing the cities of the world.
Able to see bubble forming in London itself and not sure when and where financial bubble will form in any part of the world.