The economic consequences of Brexit (Vol 2)

[Murph7355]

cookie118 said:

Just the start of it? Or a small blip.
HSBC and UBS have suggested they will move 1000 jobs each away from London.

http://uk.mobile.reuters.com/article/UKNews1/idUKK...

I'd be interested to know what their location and headcount strategy has been for the last year or two before getting over excited.

The article is also a little laden with ifs buts and maybes.

[Pan Pan Pan]

pim said:

What the U.S thinks is up to them.I have visited the States a few times and for most of the Americans I've met, Europe or the U.K is last thing on their mind.They wouldn't understand our health care system if you rubbed their nose in it.

I be curious how Germany emergens from the situation of the U.K leaving the E.U.

The Germans are not going to apologise for ever about WW2.A big powerfull country with profitable industries.

With the UK paying more into EU coffers than 26 other member states combined, the Germans are more worried about how much their taxpayers are going to have to find from their own funds to keep the EU wet dream alive once the UK walks out of the door.

[pim]

You maybe right but and I don't want to boost the Germans,they are not a people who sit on their backsides and wait for things to happen.

That proved when East Germany joined West Germany and they managed to overcome that at a great cost.

[FiF]

MDMetal said:

Mario149 said:

Strocky said:

http://www.theneweuropean.co.uk/top-stories/the_pr...

As someone who grew up in England but has roots and friends in other countries in Europe so can do an "outside looking in" view, that pretty much nails it. Ouch.

Odd I've talked to French, German, Italian and Romanian friends who all said they didn't think we'd go through with it and now that we have are quite pleased as they want to as well. Yet to meet anyone of the type that pops up on interviews crying that a wonderful dream has been shattered!

You could meet any number of them in academia, literally crying, grown people, not just special snowflakes, or at least hitherto one didn't think of them that way. Anyone who breathes the merest hint of Brexit positivity is assumed to have breakfasted on babies. Slight hyperbole there admittedly, only slight though.

[turbobloke]

FiF said:

MDMetal said:

Mario149 said:

Strocky said:

http://www.theneweuropean.co.uk/top-stories/the_pr...

As someone who grew up in England but has roots and friends in other countries in Europe so can do an "outside looking in" view, that pretty much nails it. Ouch.

Odd I've talked to French, German, Italian and Romanian friends who all said they didn't think we'd go through with it and now that we have are quite pleased as they want to as well. Yet to meet anyone of the type that pops up on interviews crying that a wonderful dream has been shattered!

You could meet any number of them in academia, literally crying, grown people, not just special snowflakes, or at least hitherto one didn't think of them that way. Anyone who breathes the merest hint of Brexit positivity is assumed to have breakfasted on babies. Slight hyperbole there admittedly, only slight though.

Agreed. Only slight - occasional snacking on babies would be about right.

[Norfolkit]

fblm said:

Perhaps we shouldn't be completely surprised that a septuagenarian classics academic sees the world through a lense of British Imperialism. If the good Professor removed his head from his ar5e long enough he might notice that no one else has given a st about empire for 50 years. I imagine in his cosy Cambridge bubble the condescension will go completely unoticed and he has received many earnest congratulations for this drivel.

"Nicholas Boyle FBA (born 18 June 1946) is the Schröder Professor of German at the University of Cambridge and a fellow of Magdalene College, Cambridge. He has written widely on German literature, intellectual history and religion and is known particularly for his award-winning extensive biography of Goethe (of which two of a projected three volumes have been published).[1] Boyle became a fellow of the British Academy in 2000.[2]"

He'd be my go to guy for the view of the average man on the street.

[kurt535]

CaptainSlow said:

cookie118 said:

Just the start of it? Or a small blip.
HSBC and UBS have suggested they will move 1000 jobs each away from London.

http://uk.mobile.reuters.com/article/UKNews1/idUKK...

An expected small blip. More than offset by companies moving in to take advantage of our corp tax rate.

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

[CaptainSlow]

kurt535 said:

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

2,000 jobs? You'd piss your pants before the ship left the harbour.

[kurt535]

CaptainSlow said:

kurt535 said:

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

2,000 jobs? You'd piss your pants before the ship left the harbour.

ooohhhhhh, I'm clearly a big fat cock. my apologies

there's me thinking ubs, lloyds of london and hsbc were just the beginning......

thanks for clarifying Capt. you're not a Capt for nothing are you eh?

[citizensm1th]

CaptainSlow said:

kurt535 said:

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

2,000 jobs? You'd piss your pants before the ship left the harbour.

1/5 of hsbc total European revenue going to paris, thats billions

[CaptainSlow]

citizensm1th said:

CaptainSlow said:

kurt535 said:

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

2,000 jobs? You'd piss your pants before the ship left the harbour.

1/5 of hsbc total European revenue going to paris, thats billions

It's where the taxable profits are recognised that's important, not staff or even revenue location.

[CaptainSlow]

kurt535 said:

CaptainSlow said:

kurt535 said:

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

2,000 jobs? You'd piss your pants before the ship left the harbour.

ooohhhhhh, I'm clearly a big fat cock. my apologies

there's me thinking ubs, lloyds of london and hsbc were just the beginning......

thanks for clarifying Capt. you're not a Capt for nothing are you eh?

Well it seems your crystal ball is working on one thing.

[Burwood]

CaptainSlow said:

kurt535 said:

CaptainSlow said:

kurt535 said:

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

2,000 jobs? You'd piss your pants before the ship left the harbour.

ooohhhhhh, I'm clearly a big fat cock. my apologies

there's me thinking ubs, lloyds of london and hsbc were just the beginning......

thanks for clarifying Capt. you're not a Capt for nothing are you eh?

Well it seems your crystal ball seems to working on one thing.

And given 90% probability complete bullst! who cares. Banks and the truth hmm.

[Pan Pan Pan]

People seem to be forgetting all the people in Germany who will lose their jobs, if trade with the EU`s single biggest market, the UK, is impaired by punitive Brexit negotiations. Many other member states, who have mass unemployment and basket case economies, wont be able to buy German goods, as they are currently only taking money out of EU coffers, and not paying into it (It will then only be being paid into by Germany, following the UK`s exit)
So a downturn in Germanys economy, combined with a massive increase in the funds Germany will have to place in EU coffers every year, in order to keep the failed, corrupt EU on life support. But for how long?

[don4l]

cookie118 said:

Just the start of it? Or a small blip.
HSBC and UBS have suggested they will move 1000 jobs each away from London.

http://uk.mobile.reuters.com/article/UKNews1/idUKK...

Why do you post this negative nonsense?

Unemployment has fallen by more than 50,000 since we voted to Leave. This is despite the fact that the Remainers told us that a vote to Leave would create 500,000 job losses before we had left.

HSBC are saying that they might move 1000 jobs to Paris. They won't. Income tax for high earners in Paris is 75%. They won't get anyone to move.

Tell me, why are you so desperate to talk your country down?

[CaptainSlow]

don4l said:

cookie118 said:

Just the start of it? Or a small blip.
HSBC and UBS have suggested they will move 1000 jobs each away from London.

http://uk.mobile.reuters.com/article/UKNews1/idUKK...

Why do you post this negative nonsense?

Unemployment has fallen by more than 50,000 since we voted to Leave. This is despite the fact that the Remainers told us that a vote to Leave would create 500,000 job losses before we had left.

HSBC are saying that they might move 1000 jobs to Paris. They won't. Income tax for high earners in Paris is 75%. They won't get anyone to move.

Tell me, why are you so desperate to talk your country down?

Unemployment down 52,000 in the last three months, but let's just froth about some non-committal comments from a couple of banks shall we.

No large organisation moves jobs to France. It's comical to think anyone actual believes it.

[davepoth]

CaptainSlow said:

It's where the taxable profits are recognised that's important, not staff or even revenue location.

And that will stay in the UK, as (at the moment at least) will absolutely everything that doesn't have to be done inside the EU.

[Burwood]

don4l said:

cookie118 said:

Just the start of it? Or a small blip.
HSBC and UBS have suggested they will move 1000 jobs each away from London.

http://uk.mobile.reuters.com/article/UKNews1/idUKK...

Why do you post this negative nonsense?

Unemployment has fallen by more than 50,000 since we voted to Leave. This is despite the fact that the Remainers told us that a vote to Leave would create 500,000 job losses before we had left.

HSBC are saying that they might move 1000 jobs to Paris. They won't. Income tax for high earners in Paris is 75%. They won't get anyone to move.

Tell me, why are you so desperate to talk your country down?

Because he's a miserable prick

[anonymous-user]

CaptainSlow said:

kurt535 said:

What iceberg? Oh dear oh dear.....Capt, no idea of your day job but good luck defending our biggest form of annual tax receipt hitting the ejector button....

2,000 jobs? You'd piss your pants before the ship left the harbour.

In 2013, the CBI employer’s group stated that around 132,000 jobs had been lost in finance and insurance since the downturn began in 2008.

The EU bonus cap for bankers isn't going to be popular for the smaller banks employees, the UK currently allows these banks to be exempt from the cap much to the disgust of the EU.

Good luck getting those guys to move to the continent. You could quite easily see the larger banks in the UK ditching the EU caps and going back to the previous model to attract the star performers back from Hong Kong and New York, which is where they went when the EU introduced the cap on bonuses.

[kurt535]

CoL is, right now, the equivalent of previous coal, steel, ship building tax generators. We need it.

My buddy has just left an emergency meeting at his broking firm with the clear mandate they can't wait to find out what deal May might do and look Frankfurt bound before August. No, a team of 15 relocating won't make the news but each guy eats easily makes 6 figures a year - whole lot of tax we are losing just in their one team. Multiply it up across similar teams in similar meetings and we simply do not have a replacement for the lost tax revenues.