Petrodollars pouring into London

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The FR has a piece on petrodollars being invested in the UK.

There are serious issues arising from this - not least the fact that most are routed through tax havens. But I liked the concluding comment:

"The UK just has the best regulatory regime - it's opened up on tax and we've found it the easiest place to do infrastructure investment," says Atif Abdulmalik, Arcapita's chief executive. "The Brits seem to have got it right with this."

I've said it before, and no doubt I'll say it again. When people threaten to leave the UK I don't believe them. There are few better places to be. We can tax as a result and should not apologise for doing so. It's tax that created this situation, after all.