UK expats for EU exit

[alanrchase]

A deal with EU takes the two sides to agree and they dont want to make a deal which we think is fair then we dont sign it, its simple who would sign a bad deal? Works both ways, you want a deal or you dont want a deal? The problem is that if its the Brussels boys who are doing the deal are they doing for themselves for the other members? The BBs just run off the tax receipts of the member states and trade does not come their way, they just make the deals, everyone will need to keep their eyes on the ball.

Thanks. Did not realise how simple it is. Boris is upset with May because she will not guarantee certain conditions which he used in his campaign. How does one guarantee conditions before negotiations start?

You talk about it and see what sort of agreement you can get or not as the case might be, we can walk away, they need us as much as we need them, the big sticking point is going be the "open border policy of the EU" we have said we want nothing to do with, we wont to control our own borders, I will watch with interest developments, I hope that an amicable agreement can be reached but the member states will need to bring pressure to bear on Brussels.

No one is going to do a deal that is not in their interests to do it. If I were selling a car for say £10000 and someone offered me £5000 I think I would walk away, on the other hand if they offered me £9000 we might talk about a compromise. I think thats how negotiations work, you may other ideas, but I would always reserve the right to walk away.

You failed to adress the point. How can you guarantee conditions before negotiations? Boris promised a scenario that may not happen.

[GuestHouse]

Each of the 27 remaining nations have a veto on any treaty the EU signs.

Good luck with getting what Brexit have promised.

[jpinx]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

[Naam]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

of course they want UK to stay in the union. those who do not are the Brexiteers.

it is also not mandatory that UK's contribution is substituted by "stumping up" a single cent. the EU cannot issue debt and can therefore only spend what is coming in. same like an expat pensioner on fixed income can't spend more than he's getting.

as simple as that.

[GuestHouse]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

OK so we agree on something, the other EU members do not want the UK to leave the EU.

Remind me again why these same members are going to allow the UK to enjoy the privilages of access to the EU markets without any of the responsibilities to run the EU?

[jpinx]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

OK so we agree on something, the other EU members do not want the UK to leave the EU.

Remind me again why these same members are going to allow the UK to enjoy the privilages of access to the EU markets without any of the responsibilities to run the EU?

That has not been my contention, only that they EU will not make it easy for the Brexit, but they can't stop it. It'll take strong negotiators to get a clean break. Meantime the currencies will settle down and the markets too -- nothings going to happen in a hurry. Personally I'd leave tomorrow and tell the EU to sing for their contributions. What are they going to do - lock us up?

[alanrchase]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

OK so we agree on something, the other EU members do not want the UK to leave the EU.

Remind me again why these same members are going to allow the UK to enjoy the privilages of access to the EU markets without any of the responsibilities to run the EU?

Because the Brexiteers believe in the perfect world. Money for nothing.

[HauptmannUK]

The total 'cost' of the EU is about 1% of GDP. When the UK leaves it will also lose EU receipts. The UK got out not a lot less than it paid in. The increase that will be required from other contributing countries is tiny.

Payments from UK to the EU are a bit of a red herring and pale into insignificance against the economic loss involved in leaving.

Of course, if we want to pursue a Norwegian or Swiss-style model of engagement with the EU then we will likely pay a higher contribution than when we were full members.

If we don't adopt that model of engagement with the EU and instead adopt WTO regulations then the consequences would be dire.

For example WTO tariff on cars is 10% and many cars are assembled in the UK using imported parts which would also have tariffs applied. Nissan Honda etc would close factories within a year..

The UK is in a VERY weak negotiating position with the EU. Every month spent on WTO tariffs will do terrific harm to the economy. The EU can let us stew..

[jpinx]

The total 'cost' of the EU is about 1% of GDP. When the UK leaves it will also lose EU receipts. The UK got out not a lot less than it paid in. The increase that will be required from other contributing countries is tiny.

Payments from UK to the EU are a bit of a red herring and pale into insignificance against the economic loss involved in leaving.

Of course, if we want to pursue a Norwegian or Swiss-style model of engagement with the EU then we will likely pay a higher contribution than when we were full members.

If we don't adopt that model of engagement with the EU and instead adopt WTO regulations then the consequences would be dire.

For example WTO tariff on cars is 10% and many cars are assembled in the UK using imported parts which would also have tariffs applied. Nissan Honda etc would close factories within a year..

The UK is in a VERY weak negotiating position with the EU. Every month spent on WTO tariffs will do terrific harm to the economy. The EU can let us stew..

Scaremongering again -- NOTHING will actually happen until UK actually leaves. Until then all nothing changes. There's plenty of time for the closed door meetings to sort out the position after brexit during this 2 year pause. Meantime the world will go around the sun twice and the political scene in all the countries involved will change - possibly a lot. There's even time for another country to have a referendum - maybe Netherlands or Denmark - and if that is in favour of exiting we will see the whole house of cards falling down rather quickly.

[jpinx]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

of course they want UK to stay in the union. those who do not are the Brexiteers.

it is also not mandatory that UK's contribution is substituted by "stumping up" a single cent. the EU cannot issue debt and can therefore only spend what is coming in. same like an expat pensioner on fixed income can't spend more than he's getting.

as simple as that.

Let's see if the EU can cut it's cloth to suit it's pocket once UK's contribution is missing. There have been absolutely no signs of economies in Brussels or it's satellites.

[happy Joe]

A deal with EU takes the two sides to agree and they dont want to make a deal which we think is fair then we dont sign it, its simple who would sign a bad deal? Works both ways, you want a deal or you dont want a deal? The problem is that if its the Brussels boys who are doing the deal are they doing for themselves for the other members? The BBs just run off the tax receipts of the member states and trade does not come their way, they just make the deals, everyone will need to keep their eyes on the ball.

Perfect recipe for a disaster foretold.

Europe wants a quick agreement, but can live without. It has its operating rules that investors know and have already assessed.

This is not the case for the UK. There is navigated view with the risk of unfavorable regulations.

Capital and transaction management will therefore flee the United pending.

Other countries will reap this unexpected windfall, and I am betting they will not hurry to change.

[alanrchase]

The total 'cost' of the EU is about 1% of GDP. When the UK leaves it will also lose EU receipts. The UK got out not a lot less than it paid in. The increase that will be required from other contributing countries is tiny.

Payments from UK to the EU are a bit of a red herring and pale into insignificance against the economic loss involved in leaving.

Of course, if we want to pursue a Norwegian or Swiss-style model of engagement with the EU then we will likely pay a higher contribution than when we were full members.

If we don't adopt that model of engagement with the EU and instead adopt WTO regulations then the consequences would be dire.

For example WTO tariff on cars is 10% and many cars are assembled in the UK using imported parts which would also have tariffs applied. Nissan Honda etc would close factories within a year..

The UK is in a VERY weak negotiating position with the EU. Every month spent on WTO tariffs will do terrific harm to the economy. The EU can let us stew..

Scaremongering again -- NOTHING will actually happen until UK actually leaves. Until then all nothing changes. There's plenty of time for the closed door meetings to sort out the position after brexit during this 2 year pause. Meantime the world will go around the sun twice and the political scene in all the countries involved will change - possibly a lot. There's even time for another country to have a referendum - maybe Netherlands or Denmark - and if that is in favour of exiting we will see the whole house of cards falling down rather quickly.

You call it scaremongering, is it true? When will the blissful post Brexit economic boom take place? 20????. If it doesn't happen (I hope it does) who will you whinge about?

[Ricardo]

According to wiki, a general-election can also be triggered following a vote of no-confidence in the government, or if two-thirds of MPs call for one ...

"Timing

A general election must take place before each parliamentary term begins. Since the maximum term of a parliament is five years, the interval between successive general elections can exceed that period by no more than the combined length of the election campaign and the time for the new parliament to assemble (a total of typically around four weeks). The five years runs from the first meeting of Parliament following the election.

After the 2010 general election, the coalition government enacted the Fixed-term Parliaments Act 2011 which set fixed term parliaments of five years. Thus the next general election was held on 7 May 2015, with subsequent elections held every five years thereafter on the first Thursday in May.

However the Act also contains provisions for Parliament to be dissolved and an early election held if no government can be formed within 14 days after a vote of no confidence in the government.

Similarly, the Act allows for an election to be triggered by a vote of two-thirds of MPs in the House of Commons calling for one.^[80]

The Prime Minister asks the Monarch to dissolve Parliament by Royal Proclamation. The Proclamation also orders the issue of the formal Writs of Election which require an election to be held in each constituency. The election is held 17 working days after the date of the Proclamation, as regulated by the Representation of the People Act 1983, s. 23 and Schedule 1 ("Parliamentary election rules"), rule 1 ("Timetable"). "

https://en.wikipedia.org/wiki/Elections_in_the_United_Kingdom#Timing

[jpinx]

The total 'cost' of the EU is about 1% of GDP. When the UK leaves it will also lose EU receipts. The UK got out not a lot less than it paid in. The increase that will be required from other contributing countries is tiny.

Payments from UK to the EU are a bit of a red herring and pale into insignificance against the economic loss involved in leaving.

Of course, if we want to pursue a Norwegian or Swiss-style model of engagement with the EU then we will likely pay a higher contribution than when we were full members.

If we don't adopt that model of engagement with the EU and instead adopt WTO regulations then the consequences would be dire.

For example WTO tariff on cars is 10% and many cars are assembled in the UK using imported parts which would also have tariffs applied. Nissan Honda etc would close factories within a year..

The UK is in a VERY weak negotiating position with the EU. Every month spent on WTO tariffs will do terrific harm to the economy. The EU can let us stew..

Scaremongering again -- NOTHING will actually happen until UK actually leaves. Until then all nothing changes. There's plenty of time for the closed door meetings to sort out the position after brexit during this 2 year pause. Meantime the world will go around the sun twice and the political scene in all the countries involved will change - possibly a lot. There's even time for another country to have a referendum - maybe Netherlands or Denmark - and if that is in favour of exiting we will see the whole house of cards falling down rather quickly.

You call it scaremongering, is it true? When will the blissful post Brexit economic boom take place? 20????. If it doesn't happen (I hope it does) who will you whinge about?

What "post-Brexit boom" are you referring to?

[Naam]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

of course they want UK to stay in the union. those who do not are the Brexiteers.

it is also not mandatory that UK's contribution is substituted by "stumping up" a single cent. the EU cannot issue debt and can therefore only spend what is coming in. same like an expat pensioner on fixed income can't spend more than he's getting.

as simple as that.

Let's see if the EU can cut it's cloth to suit it's pocket once UK's contribution is missing. There have been absolutely no signs of economies in Brussels or it's satellites.

please inform yourself and use a bit of logical thinking by looking at the percentage of subsidies in the EU budget.

a well-off member leaves = less hand-outs for poor members. if a poor member doesn't like it... it can leave. period!

[nong38]

The total 'cost' of the EU is about 1% of GDP. When the UK leaves it will also lose EU receipts. The UK got out not a lot less than it paid in. The increase that will be required from other contributing countries is tiny.

Payments from UK to the EU are a bit of a red herring and pale into insignificance against the economic loss involved in leaving.

Of course, if we want to pursue a Norwegian or Swiss-style model of engagement with the EU then we will likely pay a higher contribution than when we were full members.

If we don't adopt that model of engagement with the EU and instead adopt WTO regulations then the consequences would be dire.

For example WTO tariff on cars is 10% and many cars are assembled in the UK using imported parts which would also have tariffs applied. Nissan Honda etc would close factories within a year..

The UK is in a VERY weak negotiating position with the EU. Every month spent on WTO tariffs will do terrific harm to the economy. The EU can let us stew..

We really wait and see what sort of agreement can be reached and its not true that Honda, Nissan would close factories, they are among the most profitable in their inventory, it would cost those companies a lot of money to close the UK factories and re open new ones across the channel. Also Hitachi are opening their railway facory in the UK to supply the world with trains, it was announced before the referendum, they knew about it but nothing has changed its still going ahead and why not, if the EU gets funny then Siemans and Alsthom will lose the business to Hitachi.

You think the EU is in a strong negotiating position and the UK in a weak one, I think the opposite and right now the fall in the £ is to the advantage of the UK based companies, the £ is fluid of course.

The Chinese were reported on the BBC as wanting to do a trade deal with the UK and I m sure we would want to accelerate that, the EU currently has no deal in place with the EU, there is far more to the world than the EU. If they dont want to do deal then there wont be one but I am sure common sense will prevail.

Edited July 9, 2016 by nong38

[nong38]

A deal with EU takes the two sides to agree and they dont want to make a deal which we think is fair then we dont sign it, its simple who would sign a bad deal? Works both ways, you want a deal or you dont want a deal? The problem is that if its the Brussels boys who are doing the deal are they doing for themselves for the other members? The BBs just run off the tax receipts of the member states and trade does not come their way, they just make the deals, everyone will need to keep their eyes on the ball.

Perfect recipe for a disaster foretold.

Europe wants a quick agreement, but can live without. It has its operating rules that investors know and have already assessed.

This is not the case for the UK. There is navigated view with the risk of unfavorable regulations.

Capital and transaction management will therefore flee the United pending.

Other countries will reap this unexpected windfall, and I am betting they will not hurry to change.

In a years time and for a lot longer than that London will still be the Worlds number one Financial Centre, the best the EU can come up with is Luxembourg at number 10, you just dont see the figures do you? Yes there are risks leaving the EU but also risks staying in, nobody in the UK is going to sign up to a deal with the EU that is not a good deal, it may not be easy but we can live without them and it wont be esay for the EU to live without the UK.

[alanrchase]

The total 'cost' of the EU is about 1% of GDP. When the UK leaves it will also lose EU receipts. The UK got out not a lot less than it paid in. The increase that will be required from other contributing countries is tiny.

Payments from UK to the EU are a bit of a red herring and pale into insignificance against the economic loss involved in leaving.

Of course, if we want to pursue a Norwegian or Swiss-style model of engagement with the EU then we will likely pay a higher contribution than when we were full members.

If we don't adopt that model of engagement with the EU and instead adopt WTO regulations then the consequences would be dire.

For example WTO tariff on cars is 10% and many cars are assembled in the UK using imported parts which would also have tariffs applied. Nissan Honda etc would close factories within a year..

The UK is in a VERY weak negotiating position with the EU. Every month spent on WTO tariffs will do terrific harm to the economy. The EU can let us stew..

We really wait and see what sort of agreement can be reached and its not true that Honda, Nissan would close factories, they are among the most profitable in their inventory, it would cost those companies a lot of money to close the UK factories and re open new ones across the channel. Also Hitachi are opening their railway facory in the UK to supply the world with trains, it was announced before the referendum, they knew about it but nothing has changed its still going ahead and why not, if the EU gets funny then Siemans and Alsthom will lose the business to Hitachi.

You think the EU is in a strong negotiating position and the UK in a weak one, I think the opposite and right now the fall in the £ is to the advantage of the UK based companies, the £ is fluid of course.

The Chinese were reported on the BBC as wanting to do a trade deal with the UK and I m sure we would want to accelerate that, the EU currently has no deal in place with the EU, there is far more to the world than the EU. If they dont want to do deal then there wont be one but I am sure common sense will prevail.

Do you have any idea? Toyota, Nisan, good stuff. Not paying for trade advantages? Good stuff. I was a shade worried but everything you say makes me content.

[jpinx]

The UK is a major contributor to the EU coffers, and only one of 5 who contribute at all - -the other 23 or so are all living on hand-outs, so the will not be the turkeys voting for Xmas - they wan UK to stay in, and the other contributors also want UK to stay in or they'll have to stump up even more than they do already.

of course they want UK to stay in the union. those who do not are the Brexiteers.

it is also not mandatory that UK's contribution is substituted by "stumping up" a single cent. the EU cannot issue debt and can therefore only spend what is coming in. same like an expat pensioner on fixed income can't spend more than he's getting.

as simple as that.

Let's see if the EU can cut it's cloth to suit it's pocket once UK's contribution is missing. There have been absolutely no signs of economies in Brussels or it's satellites.

please inform yourself and use a bit of logical thinking by looking at the percentage of subsidies in the EU budget.

a well-off member leaves = less hand-outs for poor members. if a poor member doesn't like it... it can leave. period!

That's one logical thread, but there are many others, equally valid when it is remembered that it is all total speculation. The poorer countries don't have to leave, they cna just use their numbers to force a vote for more handouts.

[Naam]

That's one logical thread, but there are many others, equally valid when it is remembered that it is all total speculation. The poorer countries don't have to leave, they cna just use their numbers to force a vote for more handouts.

sorry mate, but that's again lack of basic information. the bloody EU is not a democracy where majority rules. each and every little schitt needs unanimous voting and each and every little schitty country has the veto power to block any decision.

Edited July 9, 2016 by Naam

[jpinx]

That's one logical thread, but there are many others, equally valid when it is remembered that it is all total speculation. The poorer countries don't have to leave, they cna just use their numbers to force a vote for more handouts.

sorry mate, but that's again lack of basic information. the bloody EU is not a democracy where majority rules. each and every little schitt needs unanimous voting and each and every little schitty country has the veto power to block any decision.

All the more reason to leave

[Naam]

That's one logical thread, but there are many others, equally valid when it is remembered that it is all total speculation. The poorer countries don't have to leave, they cna just use their numbers to force a vote for more handouts.

sorry mate, but that's again lack of basic information. the bloody EU is not a democracy where majority rules. each and every little schitt needs unanimous voting and each and every little schitty country has the veto power to block any decision.

All the more reason to leave

as in nearly all cases it's the bottom line that counts. UK's net contribution of £ 8 billion is only a fraction what the "city" provides in taxes and gdp.

even if London loses only a part of the handling of the EU's financial affairs the balance is negative not to talk about duty free access to a population of 340 millions.

[nong38]

David Cameron has said (DM today) that the 4.1m petition about bring the referendum result to Parliament to debate is dead, no debate the result stands.

Also India in Trade deal talks with the UK.

Article about China and the UK trade deal in yesterdays ( express ) with Lord Price ( Trade minister, Former Waitrose boss and I may say someone who I had many conversations with ) was very upbeat about the situation as were the Chinese.

The EU has currently trade deals with 52 other countries which we will need to re negotiate and we will probably end up with a better deal all round!

Edited July 9, 2016 by nong38

[jpinx]

That's one logical thread, but there are many others, equally valid when it is remembered that it is all total speculation. The poorer countries don't have to leave, they cna just use their numbers to force a vote for more handouts.

sorry mate, but that's again lack of basic information. the bloody EU is not a democracy where majority rules. each and every little schitt needs unanimous voting and each and every little schitty country has the veto power to block any decision.

All the more reason to leave

as in nearly all cases it's the bottom line that counts. UK's net contribution of £ 8 billion is only a fraction what the "city" provides in taxes and gdp.

even if London loses only a part of the handling of the EU's financial affairs the balance is negative not to talk about duty free access to a population of 340 millions.

How much does the city provide? How much of that will be lost? Numbers and references are what's needed -- not opinions

[Naam]

How much does the city provide? How much of that will be lost? Numbers and references are what's needed -- not opinions

The financial services sector is

responsible for 9.6% of national output,

while associated professional services

contribute a further 4.9%. The UK is

the world’s largest exporter of financial

services, generating a trade surplus

of over £47bn in 2011. The industry

contributed £63bn in tax to the exchequer

in 2011-12 – 11.6% of tax receipts.

http://www.cityoflondon.gov.uk/business/economic-research-and-information/statistics/Documents/an-indispensable-idustry.pdf

.

UK financial services contributed

£66 billion in tax revenue in 2013/14,

accounting for 11.5 percent of total

UK receipts, the largest contribution

of any sector.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/409353/UKTI_Fin_Exc_Overview_TAGGED_REV_3.pdf

[jpinx]

How much does the city provide? How much of that will be lost? Numbers and references are what's needed -- not opinions

The financial services sector is

responsible for 9.6% of national output,

while associated professional services

contribute a further 4.9%. The UK is

the world’s largest exporter of financial

services, generating a trade surplus

of over £47bn in 2011. The industry

contributed £63bn in tax to the exchequer

in 2011-12 – 11.6% of tax receipts.

http://www.cityoflondon.gov.uk/business/economic-research-and-information/statistics/Documents/an-indispensable-idustry.pdf

.

UK financial services contributed

£66 billion in tax revenue in 2013/14,

accounting for 11.5 percent of total

UK receipts, the largest contribution

of any sector.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/409353/UKTI_Fin_Exc_Overview_TAGGED_REV_3.pdf

We're not going to lose any of that because of coming out of the eu.....

[Naam]

How much does the city provide? How much of that will be lost? Numbers and references are what's needed -- not opinions

The financial services sector is

responsible for 9.6% of national output,

while associated professional services

contribute a further 4.9%. The UK is

the world’s largest exporter of financial

services, generating a trade surplus

of over £47bn in 2011. The industry

contributed £63bn in tax to the exchequer

in 2011-12 – 11.6% of tax receipts.

http://www.cityoflondon.gov.uk/business/economic-research-and-information/statistics/Documents/an-indispensable-idustry.pdf

UK financial services contributed

£66 billion in tax revenue in 2013/14,

accounting for 11.5 percent of total

UK receipts, the largest contribution

of any sector.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/409353/UKTI_Fin_Exc_Overview_TAGGED_REV_3.pdf

We're not going to lose any of that because of coming out of the eu.....

of course not. no worries, in fact you will gain! expect compensation from Santa Claus, the Easter Bunny, the Tooth Fairy, the sudden discovery of 300 billion barrels crude oil in the vicinity of Stoke-on-Trent and donations by British expats living in Thailand.

[jpinx]

How much does the city provide? How much of that will be lost? Numbers and references are what's needed -- not opinions

The financial services sector is

responsible for 9.6% of national output,

while associated professional services

contribute a further 4.9%. The UK is

the world’s largest exporter of financial

services, generating a trade surplus

of over £47bn in 2011. The industry

contributed £63bn in tax to the exchequer

in 2011-12 – 11.6% of tax receipts.

http://www.cityoflondon.gov.uk/business/economic-research-and-information/statistics/Documents/an-indispensable-idustry.pdf

UK financial services contributed

£66 billion in tax revenue in 2013/14,

accounting for 11.5 percent of total

UK receipts, the largest contribution

of any sector.

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/409353/UKTI_Fin_Exc_Overview_TAGGED_REV_3.pdf

We're not going to lose any of that because of coming out of the eu.....

of course not. no worries, in fact you will gain! expect compensation from Santa Claus, the Easter Bunny, the Tooth Fairy, the sudden discovery of 300 billion barrels crude oil in the vicinity of Stoke-on-Trent and donations by British expats living in Thailand.

in other words -- there are no hard facts to support your contention. There have been plenty of people saying that EU market centres will take over some of the London market, but that was another set of biased opinins. The only hard fact is that the corporation tax in UK is considerably less and that incentive has already caused industry to consider staying as a win-win scenario.

[alanrchase]

How much does the city provide? How much of that will be lost? Numbers and references are what's needed -- not opinions

The financial services sector is
responsible for 9.6% of national output,
while associated professional services
contribute a further 4.9%. The UK is
the world’s largest exporter of financial
services, generating a trade surplus
of over £47bn in 2011. The industry
contributed £63bn in tax to the exchequer
in 2011-12 – 11.6% of tax receipts.

http://www.cityoflondon.gov.uk/business/economic-research-and-information/statistics/Documents/an-indispensable-idustry.pdf



UK financial services contributed
£66 billion in tax revenue in 2013/14,
accounting for 11.5 percent of total
UK receipts, the largest contribution
of any sector.
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/409353/UKTI_Fin_Exc_Overview_TAGGED_REV_3.pdf

We're not going to lose any of that because of coming out of the eu.....

of course not. no worries, in fact you will gain! expect compensation from Santa Claus, the Easter Bunny, the Tooth Fairy, the sudden discovery of 300 billion barrels crude oil in the vicinity of Stoke-on-Trent and donations by British expats living in Thailand.

in other words -- there are no hard facts to support your contention. There have been plenty of people saying that EU market centres will take over some of the London market, but that was another set of biased opinins. The only hard fact is that the corporation tax in UK is considerably less and that incentive has already caused industry to consider staying as a win-win scenario.

Who is going to fund the Great British tax haven? The lower end tax payer?

[Naam]

in other words -- there are no hard facts to support your contention. There have been plenty of people saying that EU market centres will take over some of the London market, but that was another set of biased opinins. The only hard fact is that the corporation tax in UK is considerably less and that incentive has already caused industry to consider staying as a win-win scenario.

keep on dreaming, you have my blessing. but to protect your mattress don't forget to put a rubber sheet under the linen

U.K.

The Corporation Tax main rate for 1 April 2016 is set at 20%. The rate for 1 April 2017 is 19% and sets it at this rate for 1 April 2018 and 1 April 2019. The rate for 1 April 2020 is set at 18%.

https://www.gov.uk/government/publications/corporation-tax-main-rate

Ireland is chopping its already highly competitive 12.5pc corporate tax rate to 6.25pc, the country's finance minister has announced.

http://www.telegraph.co.uk/finance/budget/11929790/Ireland-slashes-corporation-tax-to-just-6.25pc-but-theres-a-catch.html