Planning for a Corbyn Government

[nikaiyo2]

Ok as things seem to be a bit rocky at the moment, what are people’s plans for their finances if JC gets into power?

I bought some Britannias in June, have bought a few more but unsure what else to do? Fill the safe with dollars?


I know at least one London bank is planning to move to Paris if he gets in.

[nikaiyo2]

roadie said:

Brexit is the bigger issue.

Sorry but I don’t see it that way.

When we have an opposition openly discussing capital controls in the event of a run on sterling or confiscating private companies.

Our non exec chairman was a director of a London based bank, he was one of those that the BBC talked about looking for office space in Paris, in Feb he was looking to take 20 or so jobs plus some support in case of a “bad brexit,” in June he was preparing to relocate the bank, leaving 20 or so symbolic staff here.

I am already quite diversified, I use an Old Mutual managed fund investing quite heavily in emerging markets.

[nikaiyo2]

kurt535 said:

What?

You mean there will be a:
- big fall in sterling
- major financial institutions will make plans to relocate to Europe
- external investment in our country will start to struggle
- our GDP will start to look shaky
- our credit rating would get downgraded
- inflation would rock up?

Jesus, is Corbyn already in power or has something else happened I missed???

Yeah, at the minute we have a bit of a cold, post Corbyn it’s Ebola.

[nikaiyo2]

kurt535 said:

The minute the brexit result was announced it was time to diversify. Interestingly enough, I asked on another thread where people were putting money abroad and answers were thin on the ground. To me, that implied nobody has been particularly bothered what is going on to the economy post-brexit or we all trust boris, may et al so nothing is really wrong and corbyn is really the baddy in all of this. just to check, you're not a 'red-bot' by chance??

Haha no not a bot, your post about moving money offshore was little odd. Just out of interest what “cash flow” lines have reduced since brexit?

It’s a magnitude thing, brexit is a broken toe, Corbyn a broken neck.

[nikaiyo2]

FredClogs said:

When is the next general election? Surely it would take something so existential for this government to call a general election that we'd (even the most hardcore marketeers) would welcome Corbyn over the Tories?

He's promised huge public spending on infrastructure and the sort of wealth redistribution that would see the high street booming and the SME sector thrive, your investments, if theyre in the real UK economy, have far more to fear from asset bubbles based on an economy starved of real liquidity and emaciated consumers who have suffered far too long under "austerity"

He has also promised to nationalise power companies and railways. In fact before the June election JM said that he would determine the value of those companies, so he would confiscate private assets.
JM is discussing capital controls...this is not the actions of someone planning for thriving anything.

Going to stick with Britannia’s recon should be able to get 100 without much trouble.