Could or should the city be sacrificed for good brexit deal??
Discussion
powerstroke said:
Pieman68 said:
powerstroke said:
I think for me personaly , coming from a town that once had world class maufactures of trucks , and the near by town was known all over the world for its trains, I would love to see a strong manufacturing base , trade with all of the world again, Maybe I don't understand the city and banking but its function as a service industry to enable trade and to help finance company growth seems to have been overtaken by greed and casino banking , asset stripping and funny money deals with currency shorting etc,
Speaking as someone who comes from a staunchly working class family and lives in a part of the world where a brick with a red rosette would get voted in - quite simply the answer is no, we need to keep the financial centres in London strongGet rid of the bankers and employ 20000 fishermen - who would all be on minimum wage and pay very little tax and possibly get in work benefits. So we are not only reducing the number of net contributors but adding additional net recipients, thus giving not only a reduced tax take but an increased tax spend. Genius economics there
Apart from a number of specialised fields, I don't think the opportunity is there to rebuild manufacturing and bring it back in house. Unless the cost of living plummets and we can survive on wages similar to those paid in the far east etc. If that doesn't happen then the only way it would be viable would be low wages with wages topped up to living levels using in work benefits
We have to stop harking back to a bygone age and accept that we are now a predominantly service based economy
Service isn't all about coffee. As stated above you have bars, restaurants, hotels, public transport. On top of that IT consultancy, programmers, developers, project managers. Skilled workers one and all but just not in a physical role
I have tried not to belittle your original post in the way that some have, more trying to open debate from my limited experience of economics as a whole
powerstroke said:
I think for me personaly , coming from a town that once had world class maufactures of trucks , and the near by town was known all over the world for its trains, I would love to see a strong manufacturing base , trade with all of the world again, Maybe I don't understand the city and banking but its function as a service industry to enable trade and to help finance company growth seems to have been overtaken by greed and casino banking , asset stripping and funny money deals with currency shorting etc,
Starting a thread on a topic you know very little about is never going to end well...98elise said:
davepoth said:
kurt535 said:
Fishing.................give me strength....................
Powerstroke...what sized lightbulb is burning in your head?
Look at it this way. £1bn in London will pay maybe 1,000 bankers. In Grimsby it'll pay 20,000 fishermen and pay them pretty handsomely. Powerstroke...what sized lightbulb is burning in your head?
FFS 
AyBee said:
98elise said:
davepoth said:
kurt535 said:
Fishing.................give me strength....................
Powerstroke...what sized lightbulb is burning in your head?
Look at it this way. £1bn in London will pay maybe 1,000 bankers. In Grimsby it'll pay 20,000 fishermen and pay them pretty handsomely. Powerstroke...what sized lightbulb is burning in your head?
FFS with the money saved from the apparently state salaried bankers obviously powerstroke said:
Greg66 said:
That saying: there's no such thing as a stupid question?
Well, there is. And this is one.
So you think the EU will give us a no strings deal ??? Davis is good, but that good !!!????Well, there is. And this is one.
Imagine going over to Germany, and saying to Chancellor Merkel: "How about rebalancing the German economy. Why don't you sacrifice the German motor industry - just shut it down - and instead start building up a really solid base of fishing and farming and maybe have a go at building a global banking industry. In two years."
Sound like a good idea?
powerstroke said:
For the good of the majority ??? further to May's speech saying she will govern for the little man ...
should our deals on trade in goods , fishing , cars and agricultural produce etc that benefits the wider economy be done even if they have to give concessions maybe against the best interests of the city of london and the financial sector?? something that makes a lot of money for a privileged few and pays some tax ,
is it a perfect opportunity to re balance our economy ...
No. I would prefer that Brexit is achieved without the complete destruction of our economy. should our deals on trade in goods , fishing , cars and agricultural produce etc that benefits the wider economy be done even if they have to give concessions maybe against the best interests of the city of london and the financial sector?? something that makes a lot of money for a privileged few and pays some tax ,
is it a perfect opportunity to re balance our economy ...
I think Greece had lots of fishermen and a weak financial centre, which I recall ended badly.
esxste said:
The UK economy does need to be re-balanced.
The quick and easy way to do that is to slash and burn.
Or we can start instituting some proper reforms to boost other industries, and in other cities while continuing to support CoL. Harder, slower but safer and more productive.
Exactly, keep the banking services and extend our production facilities for 'making stuff to sell'. The quick and easy way to do that is to slash and burn.
Or we can start instituting some proper reforms to boost other industries, and in other cities while continuing to support CoL. Harder, slower but safer and more productive.
By way of balance, I was on a recent research call where the estimated movement of financial services jobs was 75,000 if we do not come to an agreement on passporting. That reflects roughly 7% of Financial Services employment in the UK.
My experience is that there are many alternative structuring solutions including locally regulated businesses and using local counterpart regulated entities which means this is at the high end of what would be likely in the worst outcome.
TonyToniTone said:
Blue Oval84 said:
The City represented 15% of all government tax receipts in 2015. Would you really like to sacrifice that? Would you be happy to pay a good chunk more tax to plug the hole?
Are you sure about that, I thought it was 11% and that figure was extrapolated so unlikely to accurate
Greg66 said:
powerstroke said:
Greg66 said:
That saying: there's no such thing as a stupid question?
Well, there is. And this is one.
So you think the EU will give us a no strings deal ??? Davis is good, but that good !!!????Well, there is. And this is one.
Imagine going over to Germany, and saying to Chancellor Merkel: "How about rebalancing the German economy. Why don't you sacrifice the German motor industry - just shut it down - and instead start building up a really solid base of fishing and farming and maybe have a go at building a global banking industry. In two years."
Sound like a good idea?
http://www.telegraph.co.uk/finance/newsbysector/ba...
So last year £66.5bn were paid in taxes in this industry, which equates to 11% of all tax take for 2015. $40bn of that was income tax paid by employees.
So how do you replace that exactly?
So last year £66.5bn were paid in taxes in this industry, which equates to 11% of all tax take for 2015. $40bn of that was income tax paid by employees.
So how do you replace that exactly?
98elise said:
davepoth said:
kurt535 said:
Fishing.................give me strength....................
Powerstroke...what sized lightbulb is burning in your head?
Look at it this way. £1bn in London will pay maybe 1,000 bankers. In Grimsby it'll pay 20,000 fishermen and pay them pretty handsomely. Powerstroke...what sized lightbulb is burning in your head?
I love this thread. State salaried bankers, every other person in the UK to be in the fishing industry. What a glorious future.
Just think - before the days of the internet, the only person we could foist our crazy notions of how the world should work was the barmaid at the local.
Powerstroke, I salute you.
Just think - before the days of the internet, the only person we could foist our crazy notions of how the world should work was the barmaid at the local.
Powerstroke, I salute you.
s1962a said:
http://www.telegraph.co.uk/finance/newsbysector/ba...
So last year £66.5bn were paid in taxes in this industry, which equates to 11% of all tax take for 2015. $40bn of that was income tax paid by employees.
So how do you replace that exactly?
With fishing industry. Please get on with a programme. So last year £66.5bn were paid in taxes in this industry, which equates to 11% of all tax take for 2015. $40bn of that was income tax paid by employees.
So how do you replace that exactly?
TLDR: banking bad, fishing good.
i don't think "sacrificing" any industry is a good idea. it certainly did us no favours in the past. a government that works for the benefit of the majority was the general idea behind many leave votes i believe, this can be achieved without deliberately making it harder for ourselves.
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