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City of London thrives

Mrs Thatcher’s deregulation legacy still survives, particularly in the City of London, which is the British equivalent of Wall Street. Despite Gordon Brown’s tinkering, and probably helped by increased regulation in New York, the City of London is thriving. It now produces an astonishing 8.8% of the United Kingdom’s GDP.

This is despite the dire predictions of many experts who said that if Britain failed to join the eurozone, the City of London would be dead in the water.

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