Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-11-Speech-3-205-000"
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"en.20110511.28.3-205-000"2
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"Mr President, the government of Singapore and the authorities in Hong Kong and Shanghai are scouring London and the other financial centres of Europe looking to recruit the people who have been driven abroad by the excessive regulatory burden being imposed by the European Union. Our generation is witnessing an epical shift in wealth and enterprise from Europe to Asia. It is our tragedy to live at a time where, just as Asia has discovered the secrets of decentralisation, diffusion of power, enterprise and personal responsibility, we in this part of the world are going in the opposite direction, copying the old Asian empires – the Mings, the Moguls and the Ottomans – in regulating, uniformising, standardising and taxing.
Of course, it is my own country, my own capital city of London, which will be most adversely affected by these new restrictions, but the EU as a whole has an interest in preventing this haemorrhage of wealth, of jobs and of enterprise from Europe to younger and more virile economies. Again, the solution is to push powers down back to national authorities which have genuine affinity and allegiance from their voters."@en1
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