Education, skills, demand for labour – a range of factors determine how much any of us are worth. But the single biggest factor is geography. A car wash manager in the US can earn more than the head of cyber security at HM Treasury in London, who in turn makes more than an even higher-skilled worker stuck in a low-wage economy.
A similar phenomenon is going on with UK equities. As our Financial Editor Simon English reports, Britain’s top 100 companies would be worth nearly £500bn more if they did nothing other than shift their stock listing to New York.
