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The Spider's Web: Britain's Second Empire

"There is of course no objection "to their providingboltholes for non-residents, "but we...

"There is of course no objection "to their providing
boltholes for non-residents, "but we need to be sure that in so doing, "opportunities are not
created for the transfer "of UK capital to the non-sterling
area outside UK rules."

Full Transcript

00:00:01.000 --> 00:00:03.356
"There is of course no objection
00:00:03.356 --> 00:00:06.381
"to their providing boltholes for non-residents,
00:00:06.381 --> 00:00:09.039
"but we need to be sure that in so doing,
00:00:09.039 --> 00:00:11.304
"opportunities are not created for the transfer
00:00:11.304 --> 00:00:15.471
"of UK capital to the non-sterling area outside UK rules."
Duration
16 seconds
Views
22
Timestamp in Movie
00:08:14
Uploaded
Oct 30, 2025
Genres
documentary
Production
N/A

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Movie Summary

How Britain transformed from an imperial power to a financial power.
- These small territories, - The Spider's Web: Britain's Second Empire 00:10
- These small territories,
Seven of them are bonafide a tax haven, - The Spider's Web: Britain's Second Empire 00:09
Seven of them are bonafide a tax haven,
Some of the biggest tax havens - The Spider's Web: Britain's Second Empire 00:06
Some of the biggest tax havens
- [Narrator] With access to large amounts of offshore money, - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] With access to large amounts of offshore money,
By 1980, it had reached $500 billion. - The Spider's Web: Britain's Second Empire 00:05
By 1980, it had reached $500 billion.
And by 1997, nearly 90% of all international loans were made - The Spider's Web: Britain's Second Empire 00:09
And by 1997, nearly 90% of all international loans were made
The British Empire had sunk, leaving hardly a trace behind. - The Spider's Web: Britain's Second Empire 00:07
The British Empire had sunk, leaving hardly a trace behind.
But the City of London adapted and survived. - The Spider's Web: Britain's Second Empire 00:06
But the City of London adapted and survived.
The City of London, London's financial district, - The Spider's Web: Britain's Second Empire 00:07
The City of London, London's financial district,
It has been called a city within a city, - The Spider's Web: Britain's Second Empire 00:07
It has been called a city within a city,
It is run by an organization - The Spider's Web: Britain's Second Empire 00:14
It is run by an organization
- Those of you who aren't from the UK, - The Spider's Web: Britain's Second Empire 00:13
- Those of you who aren't from the UK,
The City of London is a separate entity to the wider London, - The Spider's Web: Britain's Second Empire 00:11
The City of London is a separate entity to the wider London,
- [Narrator] Every November, - The Spider's Web: Britain's Second Empire 00:09
- [Narrator] Every November,
- The city of London has long had this curious legal status, - The Spider's Web: Britain's Second Empire 00:20
- The city of London has long had this curious legal status,
- [Narrator] To this day, the City of London is exempt - The Spider's Web: Britain's Second Empire 00:09
- [Narrator] To this day, the City of London is exempt
Its political system derives from the Middle Ages. - The Spider's Web: Britain's Second Empire 00:05
Its political system derives from the Middle Ages.
The city's electorate is dominated not by its residents, - The Spider's Web: Britain's Second Empire 00:10
The city's electorate is dominated not by its residents...
Its lord mayor is selected by the heads of medieval guilds. - The Spider's Web: Britain's Second Empire 00:06
Its lord mayor is selected by the heads of medieval guilds.
- They have a representative in the House of Commons - The Spider's Web: Britain's Second Empire 00:07
- They have a representative in the House of Commons