UK plans to introduce border controls on EU goods after post-Brexit transition

[Rookiescot]

2 hours ago, sanemax said:

Why would the UK economy suffer because of a weaker Pound ?

Wouldnt a weak Pound be good for any trade deals ?

And what do you believe will be the driver behind a surge in the pound?

[CG1 Blue]

3 minutes ago, Logosone said:

Not at all. 

 

As a financial hub London has already started losing ground. See more recent link here:

 

"Only a third of executives questioned say London is top financial hub, as Brexit looms"

 

New York remains the world’s leading financial centre, pushing London further into second place as Brexit uncertainty undermines the UK capital and Asian centres catch up, a survey has found.

 

https://www.theguardian.com/business/2020/jan/27/new-york-london-financial-centre-brexit

 

The exodus will most certainly happen if a no-deal Brexit happens. Only if the EU is generous and allows the UK to continue trading the Euro and gives broad passporting rights will the UK avoid this. 

I see this a positive. Despite all the Brexit uncertainty over the past 3+ years, 33% of top finance professionals still see London as the biggest financial hub in the world. That's quite incredible. 

If the EU punish the UK by not allowing EU access to UK financial services, I can see the UK government opting for a low tax, low regs environment, and therefore attracting loads more global business to replace any lost business from the EU. The EU would take a massive hit if this happened. The EU know this, and that's why I'm confident they will be sensible and strike a deal on financial services. 

 

In any case, the City has always managed to adapt, and will do the same whatever the outcome from Brexit. 

[bristolboy]

1 minute ago, CG1 Blue said:

I see this a positive. Despite all the Brexit uncertainty over the past 3+ years, 33% of top finance professionals still see London as the biggest financial hub in the world. That's quite incredible. 

If the EU punish the UK by not allowing EU access to UK financial services, I can see the UK government opting for a low tax, low regs environment, and therefore attracting loads more global business to replace any lost business from the EU. The EU would take a massive hit if this happened.

And the middle and working classes will take another hit.

[candide]

44 minutes ago, CG1 Blue said:

Can you point me to where this ban on labour from Europe is documented please? 

 

If you're talking about the UK introducing a points based immigration system that treats all foreigners equally (i.e. doesn't favour EU citizens over others), then that's quite different to a 'ban on labour from Europe'. 

I know where he gets his information from, but it would be rude to tell it.

[Rookiescot]

2 minutes ago, CG1 Blue said:

I see this a positive. Despite all the Brexit uncertainty over the past 3+ years, 33% of top finance professionals still see London as the biggest financial hub in the world. That's quite incredible. 

If the EU punish the UK by not allowing EU access to UK financial services, I can see the UK government opting for a low tax, low regs environment, and therefore attracting loads more global business to replace any lost business from the EU. The EU would take a massive hit if this happened. The EU know this, and that's why I'm confident they will be sensible and strike a deal on financial services. 

 

In any case, the City has always managed to adapt, and will do the same whatever the outcome from Brexit. 

And they would move from the already existing low tax, low regulation countries because?

Countries which already have an advantage over the UK in that they have lower worker costs.

Are you also going to suggest the UK follows them with cuts to wages to make us more competitive?

[Rookiescot]

53 minutes ago, CG1 Blue said:

Can you point me to where this ban on labour from Europe is documented please? 

 

If you're talking about the UK introducing a points based immigration system that treats all foreigners equally (i.e. doesn't favour EU citizens over others), then that's quite different to a 'ban on labour from Europe'. 

He is a troll. He has been spouting this nonsense for days now. He has been asked on many occasions to give evidence backing up his assertions.

He never does. Just repeats the same garbage.

Do yourself a favour. Just block him.

[adammike]

9 minutes ago, Rookiescot said:

And they would move from the already existing low tax, low regulation countries because?

Countries which already have an advantage over the UK in that they have lower worker costs.

Are you also going to suggest the UK follows them with cuts to wages to make us more competitive?

Now you are getting it.

Those on benefits will be doing the low paid menial tasks or lose all their benefits.

[izod10]

26 minutes ago, bristolboy said:

Makes sense. After all in 2019 the UK's GDP was a gigantic 2.824 trillion dollars whereas the EU had only a minuscule GDP of 15.468 trillion dollars. 

www.economist.com/.../04/30/the-trouble-with-gdp

Measuring economies The trouble with GDP. Gross domestic product (GDP) is increasingly a poor measure of prosperity. It is not even a reliable gauge of production

You always liked quoting GDP,   not often right but unfortunatly wrong again

Edited February 28, 2020 by izod10

[Logosone]

20 minutes ago, CG1 Blue said:

I see this a positive. Despite all the Brexit uncertainty over the past 3+ years, 33% of top finance professionals still see London as the biggest financial hub in the world. That's quite incredible. 

If the EU punish the UK by not allowing EU access to UK financial services, I can see the UK government opting for a low tax, low regs environment, and therefore attracting loads more global business to replace any lost business from the EU. The EU would take a massive hit if this happened. The EU know this, and that's why I'm confident they will be sensible and strike a deal on financial services. 

 

In any case, the City has always managed to adapt, and will do the same whatever the outcome from Brexit. 

I quite agree, the 33% of international finance professionals who still see London as the biggest financial hub is incredible. Because it's obviously not the case. Probably has to do with the area of specialisation they're in, maybe forex trading with London, maybe they're based in London, who knows. Anyway the point is that London has been losing ground in the eyes of financial professionals. The figures were better BEFORE Brexit.

 

Please don't fantasize about a Cayman on the Thames, that will NEVER happen. The UK is a real country and is addicted to tax like a crack user, there is absolutely no way in hell that it can juggle no tax with its demands for free health care and its aging pensioner contingent, not to mention unemployed. No, the UK will not be a low tax haven. That option is not available to the UK.

 

The city will adapt for sure, but to a new environment where the European financial centres will be strewn across Europe and it is no longer the force that it was. Unless, unless, the EU make the mistake of giving freebies to the UK like passporting and access to financial markets. But this looks very unlikely.

Edited February 28, 2020 by Logosone

[izod10]

9 minutes ago, adammike said:

Now you are getting it.

Those on benefits will be doing the low paid menial tasks or lose all their benefits.

Right,good for UK

Edited February 28, 2020 by izod10

[izod10]

13 minutes ago, Rookiescot said:

He is a troll. He has been spouting this nonsense for days now. He has been asked on many occasions to give evidence backing up his assertions.

He never does. Just repeats the same garbage.

Do yourself a favour. Just block him.

Everyone is blocked lol  when the game is up  scot/irish comment is worthless,totally utterly worthless   eire are on notice they are all on spud pickin' exercises soon

[CG1 Blue]

9 minutes ago, Logosone said:

Please don't fantasize about a Cayman on the Thames, that will NEVER happen. The UK is a real country and is addicted to tax like a crack user, there is absolutely no way in hell that it can juggle no tax with its demands for free health care and its aging pensioner contingent, not to mention unemployed. No, the UK will not be a low tax haven. That option is not available to the UK.

The UK doesn't need to go to the extent of becoming a Cayman Islands type economy. Think more like Ireland or Luxembourg. 

A great number of economists agree that lowering taxes like corporation tax and attracting more business can have a positive effect on total tax take. Low business tax policies don't necessarily lead to a reduction in tax income. 

[CG1 Blue]

30 minutes ago, Rookiescot said:

And they would move from the already existing low tax, low regulation countries because?

Countries which already have an advantage over the UK in that they have lower worker costs.

Are you also going to suggest the UK follows them with cuts to wages to make us more competitive?

I think you're mixing up manufacturing with financial services. Your comment here isn't relevant re financial services. 

[Opl]

3 minutes ago, CG1 Blue said:

The UK doesn't need to go to the extent of becoming a Cayman Islands type economy. Think more like Ireland or Luxembourg. 

A great number of economists agree that lowering taxes like corporation tax and attracting more business can have a positive effect on total tax take. Low business tax policies don't necessarily lead to a reduction in tax income. 

like Ireland, part of the EU, so it was possible without Brexit, 

[izod10]

5 minutes ago, CG1 Blue said:

The UK doesn't need to go to the extent of becoming a Cayman Islands type economy. Think more like Ireland or Luxembourg. 

A great number of economists agree that lowering taxes like corporation tax and attracting more business can have a positive effect on total tax take. Low business tax policies don't necessarily lead to a reduction in tax income. 

One thing tho  EU are on Irelands back over corporation tax,want a billion or three refunded into eu coffers

[Logosone]

11 minutes ago, CG1 Blue said:

The UK doesn't need to go to the extent of becoming a Cayman Islands type economy. Think more like Ireland or Luxembourg. 

A great number of economists agree that lowering taxes like corporation tax and attracting more business can have a positive effect on total tax take. Low business tax policies don't necessarily lead to a reduction in tax income. 

 

I think you underestimate the extent to which the UK has maxed out its credit card. The debt burden of the UK is among the worst in the world. It has an aging population, free health care, unemployed, it is simply too big and with too many dependants to emulate small toy countries. The UK is a real country with real world problems. Tax haven is not a realistic option for the UK.

[david555]

https://www.theguardian.com/politics/2020/feb/28/brexit-france-australia-style-deal-for-the-birds

Lisa O'Carroll Brexit correspondent

@lisaocarroll

Fri 28 Feb 2020 14.33 GMT

 

Brexit: France says idea of Australia-style deal is 'for the birds'

European affairs minister says extra six months may be needed to reach trade deal

 

France has mocked Boris Johnson’s claim that the UK can have an Australia-style deal with the EU after Brexit as “for the birds”, warning an extra six months may be needed to strike an ambitious trade deal.

 

Its European affairs minister told an audience in London that such a deal did not exist and it was time for both sides to realise the next phase of Brexit was “for people … not for politicians”.

 

Amélie de Montchalin also warned that the EU would not be pressured into signing any trade deal by an “artificial deadline” created by Johnson, and if Europe needed an extra six months to achieve a good deal for both sides then that is what should happen.

 

more...

 

 

[izod10]

22 minutes ago, Logosone said:

 

I think you underestimate the extent to which the UK has maxed out its credit card. The debt burden of the UK is among the worst in the world. It has an aging population, free health care, unemployed, it is simply too big and with too many dependants to emulate small toy countries. The UK is a real country with real world problems. Tax haven is not a realistic option for the UK.

More garbage,understandable from irash

  Unemployment?  not so,lowest for many a year,,aging population? so has everyone else, big /small  doing all the right things(getting out of eu)  Tax heaven?   yes it is, just why the eu objects,tax advantage, UK evolving into a power house   now  wot about eire?  lol

[Rookiescot]

33 minutes ago, CG1 Blue said:

I think you're mixing up manufacturing with financial services. Your comment here isn't relevant re financial services. 

So who are these companies you think will move to the UK and where are the currently located?

Financial services still have overheads. 

 

[izod10]

7 minutes ago, Rookiescot said:

So who are these companies you think will move to the UK and where are the currently located?

Financial services still have overheads. 

 

In eu obv,  do u have to ask?  but worldwide too  US especially when tie up with US /Australia trade agreements are underway (soon)   all over for eu  ,1 million more mainly muslims enter eu   Serbia, kosova/ Albania about to join eu   Rich eu countries  4 of 'em,...do not want to give more money, France not taking anything less from eu budget for CAP   oh dear  Turkey awaiting in the wings     GDP in eu will rocket  lol  Again eu finished  dead as the Dodo  kaput

[bristolboy]

1 hour ago, CG1 Blue said:

The UK doesn't need to go to the extent of becoming a Cayman Islands type economy. Think more like Ireland or Luxembourg. 

A great number of economists agree that lowering taxes like corporation tax and attracting more business can have a positive effect on total tax take. Low business tax policies don't necessarily lead to a reduction in tax income. 

Or not

Does cutting corporation tax always raise more money?

The claim: Cutting the rate of corporation tax in the UK always increases the amount of revenue it raises.

Reality Check verdict: No it doesn't. Although there have been increases in revenue following recent cuts in corporation tax, the amount raised in the two years following the rate cut in April 2008 fell.

https://www.bbc.com/news/business-48885496

[bristolboy]

1 hour ago, izod10 said:

www.economist.com/.../04/30/the-trouble-with-gdp

Measuring economies The trouble with GDP. Gross domestic product (GDP) is increasingly a poor measure of prosperity. It is not even a reliable gauge of production

You always liked quoting GDP,   not often right but unfortunatly wrong again

GDP is a bad measure for analyzing the prosperity of the citizenry since it takes no account of distribution of income. The UK is a good case in point since it has the 5th largest nominal GDP in the world but amongst fully developed economies it has the biggest disparity in income distribution except for the USA.

But in terms of measuring relative sizes of economies it's reasonably good.

How about what percentage of UK exports go to the EU vs. what percentage of EU exports go to the UK?

 

The £274 billion exports of goods and services to other EU countries were worth 13.4% of the value of the British economy in 2017. It’s been at around 12-15% over the past decade.

Exports from the rest of the EU to the UK were worth about 3-4% of the size of the remaining EU’s economy in 2016. The exact number depends on whether you use the £394 billion figure from EU goods and services data, or £315 billion from UK data.

https://fullfact.org/europe/uk-eu-trade/

[sanemax]

2 hours ago, Logosone said:

Normally you'd be right. But the way the pound and UK economy look now it is virtually certain we will not see a surge in the pound for a long time.

Isnt the UK economy doing quite well at the moment ?

[bristolboy]

4 minutes ago, sanemax said:

Isnt the UK economy doing quite well at the moment ?

Isn't the UK still virtually a member of the EU? The only thing different is that it has lost voting rights.

[sanemax]

1 minute ago, bristolboy said:

Isn't the UK still virtually a member of the EU? The only thing different is that it has lost voting rights.

No, the UK left the EU on January 30 th this year

[david555]

6 minutes ago, sanemax said:

No, the UK left the EU on January 30 th this year

He means that the U.K. has still the benefits from being under the wings (he also said "Virtually " ) ….,and not yet crashed out ….hence the reasonable results as it gives still hope ….lol

But yes you are out 

Edited February 28, 2020 by david555

[sanemax]

1 minute ago, david555 said:

He means that the U.K. has still the benefits from being under the wings ….,and not yet crashed out ….hence the reasonable results as it gives still hope ….lol

What benefits does the UK currently have ?

[david555]

Just now, sanemax said:

What benefits does the UK currently have ?

Transition ,..... time to call all hands on deck for the bad weather coming ….. can call  it so ….lol

[Rookiescot]

5 minutes ago, sanemax said:

What benefits does the UK currently have ?

We are at the moment still effectively in the EU. We have simply given up our rights to a veto and any influence.

This is where the real work starts.

I remember many Brexiteers saying by the time we left we could have hundreds of trade agreements in place. How many do we have?

What ones we do have are essentially "lets not change anything until we have fully left and have a trade agreement fixed with the EU."

Oh unless we count the email that Johnson got from a Nigerian prince asking for his bank details ????. 

[sanemax]

1 minute ago, Rookiescot said:

We are at the moment still effectively in the EU. We have simply given up our rights to a veto and any influence.

This is where the real work starts.

I remember many Brexiteers saying by the time we left we could have hundreds of trade agreements in place. How many do we have?

What ones we do have are essentially "lets not change anything until we have fully left and have a trade agreement fixed with the EU."

Oh unless we count the email that Johnson got from a Nigerian prince asking for his bank details ????. 

No, the UK has left the E.U.

We have always known that the UK couldnt sign any trade deals until after we had left .