The loss of bricks and mortar retail will raise the UK's productivity levels. The trouble is a lot of the Tories new voters in the north and midlands work in bricks and mortar retail or they want their high street to return to how it was 50 years ago. That means punishing online retail which has greater productivity levels and artificial helping sustain the retro retail shopping experience. The USDAW trade union and Labour Party will be very thankful.
The so-called working class in the red wall want to go back to the good ol' days of the 60s and 70s where they could leave school at 16 and "get a job for life" in a (heavily loss making) nationalised industry and where the government would cave into their every demand for higher pay. The current conservative government will be looking at emulating Harold Wilson's government more than Thatcher's.
"When is enough enough?"
It's never enough for northerners. Look at post war spending in the north and central government's regional policies to help the north between 1945 and 1979. They were massively expensive and an economic disaster which culminated in mass employment in the previously successful South and the UK ended up having to go to the IMF for a bailout.
The Wider South East needs a devolved government and full fiscal autonomy. It's the only way to stop this situation from happening.
To simplify the northern proposal: Increase taxes in the South so the north can have tax cuts and increased spending.
It's also telling the northern MPs campaign group is called "Fair Share" - indicating the mindset - a "fair share" of money and wealth that doesn't belong to northerners.
In 2019 the north had the largest deficit in the UK at £42 billion, larger than Scotland, Wales and Northern Ireland combined. Since the 1920s northerners have sought to use the power of central government to live beyond their means - it has cost taxpayers in the South several trillion, easily.
It is beyond time that conservative voters in the South stopped wanting to conserve a political model that over taxes them and undermines their freedom. We are an economic colony. There is talk of Scotland being offered devo-max - full fiscal autonomy. Well, if it's good enough for Scotland it is good enough for the Wider South East.
What are the benefits of being in a union with Scotland which is clearly a staunchly left-wing country? Transfer more tax revenue collected in the Wider South East to the Scottish government or more UK government borrowing (paid for by taxpayers in the Wider South East) to buy off the Scots?
The decisions that The City is making are based on the perceptions foreigners will have which will be different. The common sense view of the native British will be irrelevant.
The level up agenda can only be done through central government - massive borrowing and large fiscal transfers to fund high spending in the north and midlands to convince Labour voters to keep voting Tory and now also to Scotland, Wales and Northern Ireland to ensure they receive the "benefits" of the union. There is little chance of fiscal devolution and the establishment of regional governments in England capable of taking over large functions currently held by central government.
The City is reliant on global markets and foreign money most of which in the coming decades will be coming from Asia, Latin America and Africa. It makes sense they wouldn't want to be seen to be endorsing a racist legacy in any way. The City can't adopt the mindset of the red wall, if it did it would become a backwater in an instant.
The London Mayor has a devolved budget and some limited tax raising powers. Three regions make a net tax contribution to the treasury: London, the South East and the East. Where do the fiscal transfers to London come from?
"...I’m confident we can quickly catch up with the leading pack – and then power past them."
This type of boast from the midlands (and the north) needs to be knocked on its head. The West Midlands gets devolution and continued fiscal transfers from the South East but the South East is the only region in England with no devolution whatsoever. This asymmetrical devolution of power and undemocratic means of centralised taxation should be unacceptable in an apparently first world country.