Sure, I agree, but it's hard to imagine the multiplier for the 'externalities' is 2x or greater. Singapore is not some horrific hellscape where I couldn't live as I do here. Nor is Hong Kong (present situation there not being due to lack of tax revenue). They're educated (perhaps even better than in the UK), healthcare would be accessible to me, infrastructure is good. Heck, Singapore even has a massive public housing umbrella that goes beyond anything in the UK. So where is all the money here going?