What sectors do you think are most important to London’s economy and why?
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Thanks everyone for sharing your views.
How important do you think the further education sector is to London's economy? What benefits does it provide?
With the introduction of land value taxation to gradually replace the way local produce and its manufacturing activities are taxed, there would be a greater demand for consumer goods and also more money becoming available for investment in durable capital goods. This gradual introduction would cause all those who are not using their land properly to cease speculating in it and offering it for lease or sale and this would reduce the competition for it. The effect would be that land prices reduce, houses become less costly and industry also less difficult to maintain and establish. The effect on entrepreneurs who today cannot manage to start a business would be for them to become viable and as a result, due to the increased demand for consumer goods, the economy would jump ahead with greater opportunities for finding work, less poverty, full employment, lower costs of consumption goods and greater prosperity.
TAX LAND NOT LABOR; TAX TAKINGS NOT MAKINGS!
Surely the key attribute of a robust is diversity! Therefore no single sector should dominate.
Before we can start on the actual economy we have to remember an EU principle, the people come first. Firstly we, even more than just badly, housing of an high standard and reasonable cost to the tenants, people are the most important part of any business and we cannot treat them like disposable machines, people after all learn and advance, machines can't without highly skilled people. A society of Robots will have no need for people and we will become a pointless expense to be removed.
Once we can house all the people that work in London, we wil need skilled workers to build that housing, then we can proceed to ensure wages are at the right level, skills education is in place and that starts at school.
I am talking about building society from the bottom up, yet again, no more of the horrors of unrestricted privatisation of key public services, look at the public skills we lost, the capacity to handle a problem, all lost but reclaimable with the will and acceptance of long term policies, way beyond short term political office.
London goes way beyond the "most important", every part of the current London economy is important as without it the most important won't suvive either.
Right now though we need housing and not the mega tower blocks of the past, they never did become verticle streets as envisaged first time round, just a collection of streets on top of each other, if we were lucky, in pactice they became the equivalent of prison cells with open doors.
An abundant supply of affordable, flexible, and high quality living accommodation has to be top priority. Without a stable base, nobody can be productive. However, space constraints demand that a mix of low, medium, and high-rise is needed to deliver this in a rapidly growing city with fixed physical boundaries and severe constraints on transport capacity.
Not everyone hates high rise; it's all about the quality of design AND operation, and providing choice. Currently there is precious little of the latter in London except for a tiny proportion of the population.