International migration and deregulation of capital markets Flashcards
What has made it easier for companies to locate to the UK?
Deregulation
What is the City of London’s overall financial industry worth?
£95 billion
In what year did the conservative party begin the process of deregulation of financial markets?
1986
Why was the 1986 policy of deregulation introduced to London?
To encourage investment as London was becoming uncompetitive and losing business to other financial centres
What services did the deregulation encourage and what % of the UK’s GDP did this contribute to in 2008?
Banking, finance, business services
30% in 2008
Which area experienced regeneration due to deregulation?
Canary Wharf
What are some positives of international migration?
Extra taxes
Increased GDP
Fixing skill shortages
How many countries joined the EU in 2004?
8
How many Polish people have settled in the UK?
1.2 million
How much do Polish migrants contribute to the economy each year?
£25 billion
How much do Russian oligarchs contribute to the economy each year?
£7 billion
How many Russians live in London?
100,000
What % of houses with a price of over £5 million are owned by Russian oligarchs?
20%
