• Question by: Elizabeth Howlett
• Meeting date: 13 December 2006

I have never heard the term `Wimbledonisation'. I do realise, after what you have said, it has very serious connotations in really serious big business. Wimbledon does not have any big bank headquarters, or any big insurance headquarters. This term; you said researchers in the hidden recesses of the Labour Party - please let us know about this term.

• Question by: Murad Qureshi
• Meeting date: 13 December 2006

You mentioned the American and the French approach is quite different and they even use national security arguments to stop takeovers of Unicon and people like that. Will you be using similar arguments yourself?

• Question by: Peter Hulme Cross
• Meeting date: 13 December 2006

The problem, as I understand it, Mr Mayor, is that if NASDAQ was to take over the London Stock Exchange, it might be able to impose the Sarbannes-Oxley regulations which hamper the New York Exchange, and therefore handicap the London Exchange with more severe regulations. That is the problem, as I understand it.

• Question by: Murad Qureshi
• Meeting date: 13 December 2006

The experience of foreign takeovers is mixed. If we take Thames Water, for example, it has changed hands twice now from the Germans, now to the Australians, and it has not reduced the level of leakages we have in the system, yet it has been moved on at quite a substantial profit. Financially, most foreign owned companies pay less taxes to the public purse. That is two examples where I think the real costs are borne by a wider community. I am not clear this has been taken on board appropriately.

• Question by: Peter Hulme Cross
• Meeting date: 13 December 2006

It is true to say that, whereas we get a lot of inward investment from overseas, British firms invest overseas. There is a lot of outward investment too. Would it not be true to say that this inward and outward investment is a far better way to keep the peace than the EU ever devised?

• Question by: Murad Qureshi
• Meeting date: 13 December 2006

In some ways a better amalgamation would be, given our historical links, between London and Hong Kong.

• Question by: Murad Qureshi
• Meeting date: 13 December 2006

Thank you, Mayor, for that. The specific issue here is the bids for the London Stock Exchange. There has been a lot of attention on this on the business pages so I am surprised my fellow Assembly Members have not noticed this. Is it not a case of potentially selling the family silver? Shareholders do very well from takeovers, but the real costs are borne by the wider community.

• Question by: Roger Evans
• Meeting date: 13 December 2006

If you really feel like that, why did you withdraw the Family Travel Card last year?

• Question by: Roger Evans
• Meeting date: 13 December 2006

I thought you valued it more highly than that.

• Question by: Roger Evans
• Meeting date: 13 December 2006

That was Bob Kiley, yes. You pay Bob [Kiley] £3,000 a day for his advice. Why did you not take it in this case?