Sir Evelyn de Rothschild
The heart of the matter is fiscal autonomy. It cannot be total. By definition, a nation cannot permit fiscal secession, independent statelets that amount to real-life versions of Passport to Pimlico. But, at present, the funding system is badly imbalanced, tilted in Whitehall's favour. A correction is needed, to give local government much greater authority to set taxes. In Australia, 87% of local government spending is self-financed. In Canada, the figure is 83%, while in France it is 72%.
To restore trust in the banking system, financial watchdogs should be paid on a par with traders, bankers who have been found
Capitalism needs to be reconstructed or rather reconsidered in light of the successes it has had in the past, in order to ensure its future as the answer to the problems of the global economy today.