How the City of London makes us all poorer
shared by markmark41 on Nov 28
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A report published by the Sheffield Political Economy Research Institute at the University of Sheffield reveals the UK’s oversized financial sector has cost the economy £4.5 trillion in lost econom...
ic output between 1995 and 2015 – equivalent to £67,500 for every person in the UK. The report provides strong evidence of the "finance curse" effect documented by investigative journalist and tax haven expert Nicholas Shaxson in his new book "The Finance Curse: How Global Finance is Making Us All Poorer". The "finance curse" is a new economic framework for understanding how a financial centre that has grown above its useful size and role becomes predatory and harmful to the economy that hosts it. This infographic helps visualise some of the key impacts that the "finance curse" has had on the UK.
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