“What happened in London last weekend is not a blip. It is part of a domino effect that is set to extend to the rest of the country.
Criminal gangs have nothing to fear when it comes to posh property: They make their money in London from drugs and guns. Homeowners making money out of the fact that London is one of the safest and most expensive cities in the world: They make their money from a shortage of supply.
Instead of investing in UK companies that provide goods and services to Londoners, they go abroad in search of better returns. This means fewer opportunities for business within the City.
There are several localisation strategies. Firstly, local communities should start seeing local people as the top priority. When local regeneration projects are proposed they need to be owned by local people. The right kind of regeneration will help build community back to life.
Secondly, it is essential that the UK retains its talent. Each year 200,000 new professionals leave the UK for overseas. Unfortunately, this should not be a new phenomenon, but should be an opportunity to create new opportunities and jobs.
The public sector should not be about carrying out unnecessary renovation work. It should be about creating new jobs and driving up productivity.
In effect, a flood of British people seeking higher return in foreign countries means that others who have the means and the mindset to move are quite happy to leave. It also means that the inward migration of 1.4 million people coming to the UK last year means even fewer new jobs available within the UK.”