Well, I think I can do better than that. Here's an extract from Gordoom's Mansion House speech in June 2007:
And I believe the lesson we learn from the success of the City has
ramifications far beyond the City itself - that we are leading because
we are first in putting to work exactly that set of qualities that is
needed for global success:
- openness to the world and global reach,
- pioneers of free trade and its leading defenders,
- with a deep and abiding belief in open markets,
- champions of diversity in ownership and talent, and of flexibility and adaptability to change, and
- a basic faith that from wherever it comes and from whatever background, what matters is that the talent, ingenuity and potential of people is harnessed to drive performance.
And I believe it will be
said of this age, the first decades of the 21st century, that out of
the greatest restructuring of the global economy, perhaps even greater
than the industrial revolution, a new world order was created.
He goes on to say:
Indeed success will flow to, and the next stage of globalisation will be driven by those countries:* My emphasis and link - and the fucker has the gall to have a go at companies hiding debt off balance sheet when he resisted pressure for British companies to adhere to regulations that would prevent just that, and holding compnay executives to account who are in breach of these regulations!
- which are open and not closed, stable, pro competition and flexible, able to adjust quickly to change, and
- can as a result find - through their social and political cultures - the best means of developing and creating wealth through the scientific, creative, and entrepreneurial talent of their people, not least through being world class in education and skills.
So why am I more optimistic than ever about the future of our islands, just one per cent of the world's population, in this new era of globalisation?
By your efforts Britain is already second to none:
- for our openness, pro Europe, pro free trade,
- a world leader in stability, and we will entrench that stability, by ensuring Britain's macroeconomic framework remains a world benchmark, and
- we are flexible, and in being vigilant against complacency, we must be, as I believe we are ready to become even more flexible.
So let me say as I begin my new job, I want to continue to work with you in helping you do yours, listening to what you say, always recognising your international success is critical to that of Britain's overall and considering together the things that we must do - and, just as important, things we should not do - to maintain our competitiveness:
- enhancing a risk based regulatory approach, as we did in resisting pressure for a British Sarbannes-Oxley after Enron and Worldcom,*
- maintaining our competitive tax regime, and having cut our main rate of corporation tax to again the lowest in the G8, today we are publishing the next stage of implementing Sir David Varney's recommendations for a more risk based approach to the administration of the system, with greater certainty on tax matters when it's needed most;
- and ensuring a modern planning system, that balances our economic and environmental needs with a more predictable and accountable decision making process, including that for major infrastructure projects.
Title IV consists of nine sections. It describes enhanced reporting requirements for financial transactions, including off-balance-sheet
transactions, pro-forma figures and stock transactions of corporate
officers. It requires internal controls for assuring the accuracy of
financial reports and disclosures, and mandates both audits and reports
on those controls. It also requires timely reporting of material
changes in financial condition and specific enhanced reviews by the SEC
or its agents of corporate reports.
Really, Gordon. Tighter global regulation you say....wipe your lips mate the bullshit is there for all to see.
