Brexit - was it worth it? (Vol. 2)

[Mortarboard]

Vanden Saab said:

Beat me to it... 440 setting up in the EU while over a 1,000 are moving into the UK. What makes it all the sweeter is that the 1,000 firms setting up in the UK did not previously have any presence here whereas the firms moving part of their operations to the EU mainly already had bases there...

From the reuters article above https://www.reuters.com/article/britain-eu-finance...

"The study expects that 300 to 500 smaller EU financial firms may open a permanent office in Britain, far fewer than the prevailing forecasts of around 1,000."

M.

[don'tbesilly]

Vanden Saab said:

mybrainhurts said:

crankedup said:

slow_poke said:

crankedup said:

DeltonaS said:

Impact Brexit on the London City: movement of 546 businesses and 900 billion in assets towards the EU.
https://fd.nl/ondernemen/1380552/impact-brexit-op-...

Large-scale transfer of assets towards the EU causes a shift in the financial balance of power between the UK and the EU, according to think tank New Financial.

https://newfinancial.org/brexit-the-city-the-impac...

Establishing hubs within mainland Europe has been ongoing for the past five years, it’s not news.
My son-in-law was out in Germany 3 or 4 years ago assisting the establishment of a new hub for the bank he works for.
Calling stongle.

Five years, you say?

That'd be.....2016.

The year of the Brexit vote. Wonder if they're related?

It’s about five years, maybe be four. Almost certainly related to brexit but we don’t talk shop when we visit. Years go by so quickly it’s easy to lose track of what happened when.

Oh, look, the BBC reporting something positive about Brexit. Nearly spat my porridge out...

https://www.bbc.co.uk/news/business-56155531

Beat me to it... 440 setting up in the EU while over a 1,000 are moving into the UK. What makes it all the sweeter is that the 1,000 firms setting up in the UK did not previously have any presence here whereas the firms moving part of their operations to the EU mainly already had bases there...

Indeed, and it's been on the cards for quite some time having been reported back in 2020 originally.

EU finance firms rush to open UK offices.

About 1,000 EU-based financial services firms have applied for permission to open their first offices in the UK because of Brexit, according to official data obtained under the Freedom of Information (FOI) Act.

The figures, obtained by financial management consultancy Bovill, show that in the lead-up to the December 31 Brexit deadline, 1,476 EU-based companies had applied for recognition under the Temporary Permission Regime (TPR) and were now awaiting approval to operate in Britain from the Financial Conduct Authority.

Significantly, 83 per cent of these applications were from firms without existing offices in the UK.

The highest number of applications came from financial sector companies in Ireland (230), followed by France (186), Germany (168), Cyprus (151), the Netherlands (106) and Luxembourg (101).

https://www.relocatemagazine.com/news/eu-finance-f...

[anonymous-user]

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

[DeltonaS]

crankedup said:

Vanden Saab said:

mybrainhurts said:

crankedup said:

slow_poke said:

crankedup said:

DeltonaS said:

Impact Brexit on the London City: movement of 546 businesses and 900 billion in assets towards the EU.
https://fd.nl/ondernemen/1380552/impact-brexit-op-...

Large-scale transfer of assets towards the EU causes a shift in the financial balance of power between the UK and the EU, according to think tank New Financial.

https://newfinancial.org/brexit-the-city-the-impac...

Establishing hubs within mainland Europe has been ongoing for the past five years, it’s not news.
My son-in-law was out in Germany 3 or 4 years ago assisting the establishment of a new hub for the bank he works for.
Calling stongle.

Five years, you say?

That'd be.....2016.

The year of the Brexit vote. Wonder if they're related?

It’s about five years, maybe be four. Almost certainly related to brexit but we don’t talk shop when we visit. Years go by so quickly it’s easy to lose track of what happened when.

Oh, look, the BBC reporting something positive about Brexit. Nearly spat my porridge out...

https://www.bbc.co.uk/news/business-56155531

Beat me to it... 440 setting up in the EU while over a 1,000 are moving into the UK. What makes it all the sweeter is that the 1,000 firms setting up in the UK did not previously have any presence here whereas the firms moving part of their operations to the EU mainly already had bases there...

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

No, flag waving Brexiteers will make of that what they want since the facts and numbers all point in EU's favour.

Smart remainers and Brexiteers however already understood that 900 bn.in assets moved from London to the EU.

Edited by DeltonaS on Friday 16th April 22:53

[DeltonaS]

don'tbesilly said:

Indeed, and it's been on the cards for quite some time having been reported back in 2020 originally.

EU finance firms rush to open UK offices.

About 1,000 EU-based financial services firms have applied for permission to open their first offices in the UK because of Brexit, according to official data obtained under the Freedom of Information (FOI) Act.

The figures, obtained by financial management consultancy Bovill, show that in the lead-up to the December 31 Brexit deadline, 1,476 EU-based companies had applied for recognition under the Temporary Permission Regime (TPR) and were now awaiting approval to operate in Britain from the Financial Conduct Authority.

Significantly, 83 per cent of these applications were from firms without existing offices in the UK.

The highest number of applications came from financial sector companies in Ireland (230), followed by France (186), Germany (168), Cyprus (151), the Netherlands (106) and Luxembourg (101).

https://www.relocatemagazine.com/news/eu-finance-f...

Congratulations, 151 Ltd's from Cyprus now have a letterbox in London as well.

Edited by DeltonaS on Friday 16th April 22:54

[paul0843]

digimeistter said:

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

I am a remainder,but not having a fit.
I view this as a football team being 25 - 0 down,who have managed to get it to 25-1

[turbobloke]

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Did it work out like that

[anonymous-user]

paul0843 said:

digimeistter said:

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

I am a remainder,but not having a fit.
I view this as a football team being 25 - 0 down,who have managed to get it to 25-1

I'm just thankful planes aren't falling out of the sky, immediate recession, millions of unemployed and a full scale exodus of money, business and brains hasn't happened (coved excepted)

Like we were promised.

[crankedup]

I can understand, to a point, deltona bashing the U.K. following our two finger wave to the EU, after all it is his Country and the others which will have to pick up the shortfall at the cash register. Perhaps that is what is agitating our PH friend.

[crankedup]

DeltonaS said:

crankedup said:

Vanden Saab said:

mybrainhurts said:

crankedup said:

slow_poke said:

crankedup said:

DeltonaS said:

Impact Brexit on the London City: movement of 546 businesses and 900 billion in assets towards the EU.
https://fd.nl/ondernemen/1380552/impact-brexit-op-...

Large-scale transfer of assets towards the EU causes a shift in the financial balance of power between the UK and the EU, according to think tank New Financial.

https://newfinancial.org/brexit-the-city-the-impac...

Establishing hubs within mainland Europe has been ongoing for the past five years, it’s not news.
My son-in-law was out in Germany 3 or 4 years ago assisting the establishment of a new hub for the bank he works for.
Calling stongle.

Five years, you say?

That'd be.....2016.

The year of the Brexit vote. Wonder if they're related?

It’s about five years, maybe be four. Almost certainly related to brexit but we don’t talk shop when we visit. Years go by so quickly it’s easy to lose track of what happened when.

Oh, look, the BBC reporting something positive about Brexit. Nearly spat my porridge out...

https://www.bbc.co.uk/news/business-56155531

Beat me to it... 440 setting up in the EU while over a 1,000 are moving into the UK. What makes it all the sweeter is that the 1,000 firms setting up in the UK did not previously have any presence here whereas the firms moving part of their operations to the EU mainly already had bases there...

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

No,flag waving Brexiteers will make of what they want since the facts and numbers all point in EU's favour.

Smart remainers and Brexiteers however already understood that 900 bn. in assets moved from London to the EU.

What I am trying to understand is why you continue to post in here. According to all of your postings you are better off without the U.K. Why not be satisfied with that ?

[crankedup]

paul0843 said:

digimeistter said:

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

I am a remainder,but not having a fit.
I view this as a football team being 25 - 0 down,who have managed to get it to 25-1

And you are going to now do what to protect your business ?

[paul0843]

crankedup said:

paul0843 said:

digimeistter said:

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

I am a remainder,but not having a fit.
I view this as a football team being 25 - 0 down,who have managed to get it to 25-1

And you are going to now do what to protect your business ?

.

I have raised our prices by 20% to cover the additional transport costs and paperwork.
Luckily we are fortunate enough to be trading in a high end luxury sector that has absorbed it,but my feeling is that prices will also rise where they will actually make a detrimental impact to people’s standard of living.

[F1GTRUeno]

digimeistter said:

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

Not at all, I said I'd gladly say well done if Brexit was a success.

Takes a lot more than this though.

[crankedup]

paul0843 said:

digimeistter said:

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

I am a remainder,but not having a fit.
I view this as a football team being 25 - 0 down,who have managed to get it to 25-1

The whistle has only just blown ten minutes ago, another 80minutes of play to go.

[crankedup]

paul0843 said:

crankedup said:

paul0843 said:

digimeistter said:

crankedup said:

Good spot mybrainhurts, surely not a case of businesses sporting what works or doesn’t work for them after brexit. Remainers in here will be distraught reading this good news for the U.K.

Indeed, they'll be having a FIT

I am a remainder,but not having a fit.
I view this as a football team being 25 - 0 down,who have managed to get it to 25-1

And you are going to now do what to protect your business ?

.

I have raised our prices by 20% to cover the additional transport costs and paperwork.
Luckily we are fortunate enough to be trading in a high end luxury sector that has absorbed it,but my feeling is that prices will also rise where they will actually make a detrimental impact to people’s standard of living.

Well it has already been reported that vintage watches being imported into U.K. have been hit by the burden of extra paperwork and tax.

[Fittster]

EU post-Brexit imports from UK down 47%

The European Union's imports from Britain almost halved in the first two months of the year following the UK exit from the EU single market, data showed today.

The figures also showed that the 27-nation bloc's trade surplus with Britain rose as exports fell by less.

The European Union's statistics office Eurostat said EU imports from Britain dropped 47% year-on-year in January-February to €16.6 billion while exports to the UK declined only 20.2% to €39.8 billion.

As a result, the EU's trade surplus with Britain rose to €23.2 billion in the first two months after Britain's Brexit transition period expired.

This compares to €18.6 billion during the same time in 2020, when London still enjoyed unfettered access to the EU's single market.

Eurostat said the euro zone's unadjusted trade surplus with the rest of the world fell to €17.7 billion in February from €23.4 billion in February 2020.

However, because of a strong January, the two-month cumulative result was still better than last year showing a surplus of €28.7 billion compared to €25 billion in the first two months of 2020.

Adjusted for seasonal swings, the euro zone trade surplus with the rest of the world was €18.4 billion in February after €28.7 billion in January as exports fell 2.5% on the month while imports rose 3.4%.

https://www.rte.ie/news/business/2021/0416/1210297...

[turbobloke]

After that comes this, release date 13 April relating to Feb. These extracts focus on more recent developments in response to the modern history doom and gloom which needs no further repetition beyond existing repeats.

ONS said:

Exports of goods to the EU, excluding non-monetary gold and other precious metals, partially rebounded in February 2021, increasing by £3.7 billion (46.6%)

ONS said:

The increases in exports to the EU in February 2021 were driven by machinery and transport equipment and chemicals, particularly cars and medicinal and pharmaceutical products.

ONS said:

Imports of goods from the EU, excluding non-monetary gold and other precious metals, showed a weaker increase of £1.2 billion

ONS said:

Total imports of goods increased by £2.8 billion (8.8%) in February 2021. Increasing imports of goods in February 2021 were driven by a £1.7 billion (10.2%) increase in imports from non-EU countries.

ONS said:

Trade in services imports and exports have consistently remained at a lower level since Q2 2020 as services accounts such as travel and transport trade continue to be affected by coronavirus (COVID-19) restrictions.

As previously mentioned, any implicit attribution of total change to brexit won't wash when covid has had major impacts.

[Fittster]

turbobloke said:

After that comes this, release date 13 April relating to Feb. These extracts focus on more recent developments in response to the modern history doom and gloom which needs no further repetition beyond existing repeats.

ONS said:

Exports of goods to the EU, excluding non-monetary gold and other precious metals, partially rebounded in February 2021, increasing by £3.7 billion (46.6%)

ONS said:

The increases in exports to the EU in February 2021 were driven by machinery and transport equipment and chemicals, particularly cars and medicinal and pharmaceutical products.

ONS said:

Imports of goods from the EU, excluding non-monetary gold and other precious metals, showed a weaker increase of £1.2 billion

ONS said:

Total imports of goods increased by £2.8 billion (8.8%) in February 2021. Increasing imports of goods in February 2021 were driven by a £1.7 billion (10.2%) increase in imports from non-EU countries.

ONS said:

Trade in services imports and exports have consistently remained at a lower level since Q2 2020 as services accounts such as travel and transport trade continue to be affected by coronavirus (COVID-19) restrictions.

As previously mentioned, any implicit attribution of total change to brexit won't wash when covid has had major impacts.

Oh, what a shock the fact once again turbo finds his prejudice view point puts him on the wrong side of the argument so he tries to hide behind selective quoting. Trying to show a bounce back in February, after a collapse in January of historic proportions is one of the most feeble attempts I've seen to try and hide the damage of Brexit.

[FiF]

Fittster said:

turbobloke said:

After that comes this, release date 13 April relating to Feb. These extracts focus on more recent developments in response to the modern history doom and gloom which needs no further repetition beyond existing repeats.

ONS said:

Exports of goods to the EU, excluding non-monetary gold and other precious metals, partially rebounded in February 2021, increasing by £3.7 billion (46.6%)

ONS said:

The increases in exports to the EU in February 2021 were driven by machinery and transport equipment and chemicals, particularly cars and medicinal and pharmaceutical products.

ONS said:

Imports of goods from the EU, excluding non-monetary gold and other precious metals, showed a weaker increase of £1.2 billion

ONS said:

Total imports of goods increased by £2.8 billion (8.8%) in February 2021. Increasing imports of goods in February 2021 were driven by a £1.7 billion (10.2%) increase in imports from non-EU countries.

ONS said:

Trade in services imports and exports have consistently remained at a lower level since Q2 2020 as services accounts such as travel and transport trade continue to be affected by coronavirus (COVID-19) restrictions.

As previously mentioned, any implicit attribution of total change to brexit won't wash when covid has had major impacts.

Oh, what a shock the fact once again turbo finds his prejudice view point puts him on the wrong side of the argument so he tries to hide behind selective quoting. Trying to show a bounce back in February, after a collapse in January of historic proportions is one of the most feeble attempts I've seen to try and hide the damage of Brexit.

[Fittster]

Pet Food, another industry being damaged by Brexit.

The latest Office for National Statistics (ONS) analysis reveals continuing issues for companies grappling with both Brexit and coronavirus-related issues.

The ONS’s fortnightly economic indicators survey revealed that 15% of firms said demand for their exports had crumbled away, while 38% of exporters and 45% of importers were struggling under the weight of additional paperwork.

Home delivery firm ParcelHero says Brexit has created mounting challenges for export and import companies while, at home, the High Street is also struggling.

HUGE CHALLENGES

ParcelHero’s head of consumer research, David Jinks, said: “UK importers continue to face huge challenges. According to the latest ONS economic figures, in the period March 8 to March 20, 44.8% of importers complained about the impact of additional paperwork created by Brexit; 38.5% said their costs had risen; 35.7% reported new customs tariffs had created significant challenges and 24.9% said they experienced disruption at UK borders.

“That’s a sorry picture of the realities of post-Brexit trading, with British exporters’ experiences mirroring this. 15.3% reported reduced demand for their products and services; 38.3% experienced problems because of the additional paperwork created by Brexit; 26.1% experienced rises in transport costs and over 20% reported challenges with increased customs duties.”


https://www.petbusinessworld.co.uk/news/feed/firms...

Project fear and all that...