Labour report mulls moving BOE functions
Parts of the Bank of England could be relocated to Birmingham if Labour wins the next election.
A report commissioned by shadow chancellor John McDonnel suggests shifting some functions to Birmingham while setting up offices in Glasgow, Cardiff and Belfast.
"Flow of funds analysis shows that banks are diverting resources away from industries vital to the future of this country," said Graham Turner of GFC Economics, who wrote the report.
"There is a risk that the disproportionate number of technology companies in London and the South East will increase, exacerbating regional inequality."
