Could or should the city be sacrificed for good brexit deal??
Discussion
Blue Oval84 said:
Nope, I just read it on the first google link that popped up, think it was the Telegraph.
11%, 15%, 10%, either way, it would be a f
king huge hit if it weren't there anymore.
But of course not all of it would go even if we lost all access entirely to the EU.11%, 15%, 10%, either way, it would be a f
king huge hit if it weren't there anymore.In any case we need a balanced deal with Europe and one where we had to allow the same free movement as now, make the same net contributions, and still not have control of our fishing grounds, all for the sake of the city would not be a balanced deal.
Let me be clear that we need to approach the negotiations open minded and if we do have full access to the single market I expect that both that there will be some contributions and that we will need to grant VISAs to skilled EU citizens with job offers, but the city should only be one consideration in those negotiations.
powerstroke said:
kurt535 said:
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 ...
Fishing.................give me strength....................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 ...
Powerstroke...what sized lightbulb is burning in your head?
if our relationship was just hard goods then we could just tell them our terms take it or leave it as they have a massive surplus and it would be easy to put tariffs on imports from the EU if they wanted to be funny with us , however it seems we have a defict with them when it comes to financial services and that puts us in a weaker position , hence my question....
Well, there is. And this is one.
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.
///ajd 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.
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,
Why do you think these manufacturing industries, trains, trucks etc failed to survive?I am from an engineering education, and now work in banking, grew up in the north, now live in london, so as you may expect have some views on this, but i would like to know your view of it first.
Edited by gibbon on Friday 15th July 09:03
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
gibbon 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,
Why do you think these manufacturing industries, trains, trucks etc failed to survive?I am from an engineering education, and now work in banking, so as you may expect have some views on this, but i would like to know your view of it first.
t and move on to the next victim...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
Really not happy with the ridicule being put on the original poster.
The country is more important than the London banking sector and money isn't the only criteria by which people vote. If it was we'd still be in Europe.
Its been the case for a number of years now that the country places far too much emphasis on the financial and service sectors and has effectively sidelined any serious manufacturing because London has held the country up financially. It was easy to do politically but I think many years of this has left us with quite a divided union.
This might be a time to reflect on that and any ways we can rebalance the economy and country rather than just ridicule anyone who dares question money as the ultimate goal of all our lives.
Before you commend London financial services as all things mighty in this country it would be interesting to see how much of the pounds recent fall was secondary to those same patriotic bankers in London short selling sterling.
and I voted stay.
The country is more important than the London banking sector and money isn't the only criteria by which people vote. If it was we'd still be in Europe.
Its been the case for a number of years now that the country places far too much emphasis on the financial and service sectors and has effectively sidelined any serious manufacturing because London has held the country up financially. It was easy to do politically but I think many years of this has left us with quite a divided union.
This might be a time to reflect on that and any ways we can rebalance the economy and country rather than just ridicule anyone who dares question money as the ultimate goal of all our lives.
Before you commend London financial services as all things mighty in this country it would be interesting to see how much of the pounds recent fall was secondary to those same patriotic bankers in London short selling sterling.
and I voted stay.
No matter what sector, business's are in the business of doing business, what would be the sacrifice? it remains to be seen what will actually happen.
My gut says that the great poker game that was the brexit isn't quite over and that a lot of companies are bluffing and holding very poor hands. But it all stems down to how the tax system is implemented after we leave to encourage companies to do the business of doing business.
My gut says that the great poker game that was the brexit isn't quite over and that a lot of companies are bluffing and holding very poor hands. But it all stems down to how the tax system is implemented after we leave to encourage companies to do the business of doing business.
Whoozit said:
JagLover said:
But of course not all of it would go even if we lost all access entirely to the EU.
.
How much would you be willing to lose, in tax take terms? And which other govt budgetary items would you cut to compensate?.
julian64 said:
Really not happy with the ridicule being put on the original poster.
The country is more important than the London banking sector and money isn't the only criteria by which people vote. If it was we'd still be in Europe.
Its been the case for a number of years now that the country places far too much emphasis on the financial and service sectors and has effectively sidelined any serious manufacturing because London has held the country up financially. It was easy to do politically but I think many years of this has left us with quite a divided union.
This might be a time to reflect on that and any ways we can rebalance the economy and country rather than just ridicule anyone who dares question money as the ultimate goal of all our lives.
Before you commend London financial services as all things mighty in this country it would be interesting to see how much of the pounds recent fall was secondary to those same patriotic bankers in London short selling sterling.
The OP point/question was and is dumb should we sacrifice something we have that makes money an we are good at in the hope it will be replaced by something else maybe some point some where.
Its thinking like that which gave us Corbyn as Labour leader. Hopes an dreams are not the same as cold hard facts but they are nicer
and I voted stay.
The country is more important than the London banking sector and money isn't the only criteria by which people vote. If it was we'd still be in Europe.
Its been the case for a number of years now that the country places far too much emphasis on the financial and service sectors and has effectively sidelined any serious manufacturing because London has held the country up financially. It was easy to do politically but I think many years of this has left us with quite a divided union.
This might be a time to reflect on that and any ways we can rebalance the economy and country rather than just ridicule anyone who dares question money as the ultimate goal of all our lives.
Before you commend London financial services as all things mighty in this country it would be interesting to see how much of the pounds recent fall was secondary to those same patriotic bankers in London short selling sterling.
The OP point/question was and is dumb should we sacrifice something we have that makes money an we are good at in the hope it will be replaced by something else maybe some point some where.
Its thinking like that which gave us Corbyn as Labour leader. Hopes an dreams are not the same as cold hard facts but they are nicer
and I voted stay.
Foliage said:
No matter what sector, business's are in the business of doing business, what would be the sacrifice? it remains to be seen what will actually happen.
Exactly.Push the banks as far as you can to the point they just don't leave.
Anything less is basically throwing potential tax payer money down the drain... or cronyism.
julian64 said:
Before you commend London financial services as all things mighty in this country it would be interesting to see how much of the pounds recent fall was secondary to those same patriotic bankers in London short selling sterling.
I'm not. Merely pointing out that constraining the financial sector, by whatever means you wish, has very significant Budget implications due to the high tax take per head. It's not a zero-sum game. And the fall was due to a market reassessment of the relative values of the British economy vs the rest of the world. Yes, some investors all over the world may have chosen to put their capital at risk betting on that outcome (BTW, ahead of the vote as there's little point in shorting an investment which has already fallen...). You may recall it wasn't all that obvious we would end up here.
kurt535 said:
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 accurateAll those financial services firms need ancillary support. The shops, the coffee bars, pubs, restaurants, hotels, taxis etc etc etc etc. They all earn money and pay tax partly because of financial services.
Pieman68 said:
....
We have to stop harking back to a bygone age and accept that we are now a predominantly service based economy
Accept and embrace service and high tech industry, we seem to be very very good at this. You'd have to be either insane or zealot to want to jeopardise that. We have to stop harking back to a bygone age and accept that we are now a predominantly service based economy
powerstroke said:
Acountants on company boards rarther than engineers = result short term gain not R+D and long term investment for a start... so they sell assets and hollow out the company so any short term hicup or slow down in the economy kills the business they don't give a st and move on to the next victim...
Watching re-runs of 'Pretty Woman' is not a sound way to understand how world works.t and move on to the next victim...Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff