Not an unreasonable point, though the argument is not that there are other *Londons* waiting in the wings, so much as other Lyons, Austins and Munichs.
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Quite - London isn't a city state, it's a part of a national economy and there's many reasons to think a more geographically balanced UK would work better in all sorts of ways.
To Tony's point, what I'd like to understand more is how planning reform and devolution *create* labour demand. This is an empirical question but seems to be a strong implied assumption.
Isn't the idea that if more planning is approved, that if these parts of the state can "do" more, then the industries waiting on those decisions want to recruit more?
E.g. more housing applications approved means more builders needed
Devolution ideally and eventually gives cities far more tax-raising (and spending) powers, as is the case in every other G7 country.
So cities a) are incentivised to build more to raise tax revenue, b) can offer incentives to attract top employers/jobs, c) can decide to build (and fund) a tram etc.
Creation of labour demand could come from cities nicking some top-end employers/jobs from London, and those having positive multipliers for other local skilled jobs.
Or from planning-reform-enabled population growth boosting agglomeration.
Or from being attracting employers directly from overseas.
I get what you're saying but because of its business model I don't think ARM substitutes. TI was a fab and a designer, which meant it was much more suited to splitting off startups aimed at supplying it with components, or taking its products and producing something new.
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E.g. more housing applications approved means more builders needed
As with most economic things, most things are indirect and illogical :)
So cities a) are incentivised to build more to raise tax revenue, b) can offer incentives to attract top employers/jobs, c) can decide to build (and fund) a tram etc.
Or from planning-reform-enabled population growth boosting agglomeration.
Or from being attracting employers directly from overseas.
We can’t build a modern railway. It might as well be on Mars.