BREXIT - Is This Really Still Rumbling On? 😴

rick_chasey

TheBigBean wrote:

Surrey Commuter wrote:

TheBigBean wrote:

This is perhaps the most frustrating aspect of the whole Brexit debate. The idea that it is easy to be global financial centre, and it is low hanging fruit waiting to be moved. I mean, if it was so easy to move why pay sky high rents in the City when you could rent the whole of Sunderland?

The trouble is the EU actually believes it is easy, so will do everything it can to collectively destroy value.

But if you were them you would not want to miss the opportunity to try and land yourself some lucrative parts of the pie.

Would I want to shoot myself in the foot whilst salivating? No - I'm a pragmatist.

I would probably have called Cameron's bluff during the negotiations (as they did) because I would have expected him to win and that would have been in my interests.

After leave won, I would have had an emergency meeting and put together a new offer for the UK, so that it could have another vote.

Ah joh. That would never be an option. Given that Anti-EU sentiment is probably stronger in places like the Netherlands and France, there's no chance a politician in favour of the EU (which all the leaders are for now) would offer more concessions if a referendum was lost.

You can't take these things in isolation. If you are committed to the EU, and they are, concessions after deciding to leave will only lead to a breakup.

pblakeney

Joelsim wrote:

Hmm

http://www.proactiveinvestors.co.uk/com ... 66440.html

"KPMG said it was aware of international clients who had been considering basing European headquarters in the UK, but had chosen Ireland instead."
My thoughts exactly. Dublin is looking more and more attractive.

joelsim

Heseltine

https://twitter.com/estwebber/status/785822342500855809

TheBigBean

Rick Chasey wrote:

TheBigBean wrote:

Surrey Commuter wrote:

TheBigBean wrote:

This is perhaps the most frustrating aspect of the whole Brexit debate. The idea that it is easy to be global financial centre, and it is low hanging fruit waiting to be moved. I mean, if it was so easy to move why pay sky high rents in the City when you could rent the whole of Sunderland?

The trouble is the EU actually believes it is easy, so will do everything it can to collectively destroy value.

But if you were them you would not want to miss the opportunity to try and land yourself some lucrative parts of the pie.

Would I want to shoot myself in the foot whilst salivating? No - I'm a pragmatist.

I would probably have called Cameron's bluff during the negotiations (as they did) because I would have expected him to win and that would have been in my interests.

After leave won, I would have had an emergency meeting and put together a new offer for the UK, so that it could have another vote.

Ah joh. That would never be an option. Given that Anti-EU sentiment is probably stronger in places like the Netherlands and France, there's no chance a politician in favour of the EU (which all the leaders are for now) would offer more concessions if a referendum was lost.

You can't take these things in isolation. If you are committed to the EU, and they are, concessions after deciding to leave will only lead to a breakup.

Or survival.

A pro-EU Dutch leader would have been wise to agree some concessions for the UK and the rest of the EU members, like Holland, thus softened the anti-EU vote at home. Still, I know nothing about Dutch politics so maybe banging on about a Euro army is the secret instead.

TheBigBean

Joelsim wrote:

Heseltine

https://twitter.com/estwebber/status/785822342500855809

Has Heseltine said something pro-European? He's hardly going to change his mind now.

joelsim

TheBigBean wrote:

Joelsim wrote:

Heseltine

https://twitter.com/estwebber/status/785822342500855809

Has Heseltine said something pro-European? He's hardly going to change his mind now.

It's funny.

Stevo_666

Surrey Commuter wrote:

I think most of the Brexit leadership concede a 0.5% annual drop so it seems fairly conservative. The Times is just chosing how it shows the numbers for max impact.... if they said Brexit to cost us £4.4bn a year it would not be front page headlines

It isn't £4.4bn per year. It's £66bn per year in lower tax receipts. £66bn per year.[/quote]

it is not a one off cost, so it is $4.4bn in year one, then £8.8bn in year two etc. This is because each year the economy is another 0.5% smaller than otherwise would have been.[/quote]
As an accountant, I agree with you.

briantrumpet

I'm not a great fan of James O'Brien (don't grow a beard if you can't stop fiddling with it, man!), but this is excruciatingly funny: http://www.lbc.co.uk/radio/presenters/j ... to-losing/

rick_chasey

Yeah I saw that.

I imagine it just makes most brexiters glad they could make such a smug c... despair so much.

Stevo_666

mamba80 wrote:

[Fujitsu have just announced 1800 UK job losses, they warned in Sept Brexit could cause them to quit UK........ this is shitte for us, as we do a heck of alot of contract work for them so will def have implications for our company, well done Coopster and you other wxxkxrs who never thought this through.

Complete tosh. The Fujitsu job cuts are nothing do with Brexit:
http://www.telegraph.co.uk/business/2016/10/11/fujitsu-to-cut-almost-2000-uk-jobs-as-it-looks-to-slash-costs/

To quote from the link:
"Fujitsu however stressed that the decision was not related to result of the Brexit referendum or any “domestic issues”.

Care to comment on this Mamba?

Unfortunately when any company cuts jobs fdom now on, it will be gleefully seized upon by some on here as 'proof' that we are doomed. I think some of these claims deserve a bit of closer scrutiny in future.

joelsim

Stevo 666 wrote:

mamba80 wrote:

[Fujitsu have just announced 1800 UK job losses, they warned in Sept Brexit could cause them to quit UK........ this is shitte for us, as we do a heck of alot of contract work for them so will def have implications for our company, well done Coopster and you other wxxkxrs who never thought this through.

Complete tosh. The Fujitsu job cuts are nothing do with Brexit:
http://www.telegraph.co.uk/business/2016/10/11/fujitsu-to-cut-almost-2000-uk-jobs-as-it-looks-to-slash-costs/

To quote from the link:
"Fujitsu however stressed that the decision was not related to result of the Brexit referendum or any “domestic issues”.

Care to comment on this Mamba?

Unfortunately when any company cuts jobs fdom now on, it will be gleefully seized upon by some on here as 'proof' that we are doomed. I think some of these claims deserve a bit of closer scrutiny in future.

Or it could be so they don't strike fear into the rest of their UK workforce.

Stevo_666

Joelsim wrote:

Stevo 666 wrote:

mamba80 wrote:

[Fujitsu have just announced 1800 UK job losses, they warned in Sept Brexit could cause them to quit UK........ this is shitte for us, as we do a heck of alot of contract work for them so will def have implications for our company, well done Coopster and you other wxxkxrs who never thought this through.

Complete tosh. The Fujitsu job cuts are nothing do with Brexit:
http://www.telegraph.co.uk/business/2016/10/11/fujitsu-to-cut-almost-2000-uk-jobs-as-it-looks-to-slash-costs/

To quote from the link:
"Fujitsu however stressed that the decision was not related to result of the Brexit referendum or any “domestic issues”.

Care to comment on this Mamba?

Unfortunately when any company cuts jobs fdom now on, it will be gleefully seized upon by some on here as 'proof' that we are doomed. I think some of these claims deserve a bit of closer scrutiny in future.

Or it could be so they don't strike fear into the rest of their UK workforce.

Seriously? You are grasping at straws.

I know that sector and the commercial pressures that it is under regardless of BREXIT. This is a cost cutting exercise to remain profitanle/competitive. And it is well in advance of any exit.

More from the link:
"Announcing the mass redundancies, Fujitsu said the cost cutting was to allow it to remain competitive.

The company ended manufacturing work in the UK several years ago and its British arm is focused on providing IT support to blue-chip clients including Centrica and Marks & Spencer. "

And not confined to the UK, it is a regional restructure:
"All of Fujitsu’s operations across Europe, the Middle East and Africa are coming under scrutiny as part of the process, the company added. "

mamba80

Stevo 666 wrote:

mamba80 wrote:

[Fujitsu have just announced 1800 UK job losses, they warned in Sept Brexit could cause them to quit UK........ this is shitte for us, as we do a heck of alot of contract work for them so will def have implications for our company, well done Coopster and you other wxxkxrs who never thought this through.

Complete tosh. The Fujitsu job cuts are nothing do with Brexit:
http://www.telegraph.co.uk/business/2016/10/11/fujitsu-to-cut-almost-2000-uk-jobs-as-it-looks-to-slash-costs/

To quote from the link:
"Fujitsu however stressed that the decision was not related to result of the Brexit referendum or any “domestic issues”.

Care to comment on this Mamba?

Unfortunately when any company cuts jobs fdom now on, it will be gleefully seized upon by some on here as 'proof' that we are doomed. I think some of these claims deserve a bit of closer scrutiny in future.

do you work in this industry dickhead?

surrey_commuter

Stevo 666 wrote:

Surrey Commuter wrote:

I think most of the Brexit leadership concede a 0.5% annual drop so it seems fairly conservative. The Times is just chosing how it shows the numbers for max impact.... if they said Brexit to cost us £4.4bn a year it would not be front page headlines

It isn't £4.4bn per year. It's £66bn per year in lower tax receipts. £66bn per year.

it is not a one off cost, so it is $4.4bn in year one, then £8.8bn in year two etc. This is because each year the economy is another 0.5% smaller than otherwise would have been.[/quote]
As an accountant, I agree with you.[/quote]

It only took us 230 pages to agree - maybe we should stick to sums

Stevo_666

mamba80 wrote:

Stevo 666 wrote:

mamba80 wrote:

[Fujitsu have just announced 1800 UK job losses, they warned in Sept Brexit could cause them to quit UK........ this is shitte for us, as we do a heck of alot of contract work for them so will def have implications for our company, well done Coopster and you other wxxkxrs who never thought this through.

Complete tosh. The Fujitsu job cuts are nothing do with Brexit:
http://www.telegraph.co.uk/business/2016/10/11/fujitsu-to-cut-almost-2000-uk-jobs-as-it-looks-to-slash-costs/

To quote from the link:
"Fujitsu however stressed that the decision was not related to result of the Brexit referendum or any “domestic issues”.

Care to comment on this Mamba?

Unfortunately when any company cuts jobs fdom now on, it will be gleefully seized upon by some on here as 'proof' that we are doomed. I think some of these claims deserve a bit of closer scrutiny in future.

do you work in this industry dickhead?

I work in a sector in which Fujitsu competes with us. Close enough to know when someone is talking complete crap. Even if I didn't, the statements made by the company demonstrate very clearly that you are.

Maybe we need to coin another term - Eurobollox.

Stevo_666

Surrey Commuter wrote:

It only took us 230 pages to agree - maybe we should stick to sums

Yay, we agree 8)

Not another accountant?

joelsim

Brexiter annoyed by people pointing out that thing they were told would happen ‘is happening’



Brexit supporters are furious that people keep pointing out that the things they were told would happen if we voted to leave the EU are now actually happening.

In a week in which the IMF cut the UK’s 2017 growth forecast by 0.9% and economic activity dropped to its lowest level since 2009, Brexiters are furious they are being asked to take a cursory look at the news.

“I don’t need to look at the news because we won and you need to get over it”, claimed Brexiter Graham Williams.

“Things are only getting worse because you keep saying they’re getting worse – there is no other possible explanation for it! Things don’t get worse because of the underlying economic conditions; they get worse because people keep talking about it on social media!

“I don’t care if this is almost exactly what the experts said would happen if we voted to leave the EU; experts don’t know anything!

“You’re all just a bunch of whiney losers reading reports and economic indicators because you don’t like that you lost, you big fat losers!”

However, some Brexit supporters have said their own economic indicators show we’re doing just fine thank you very much.

“The FTSE is doing ok, that’s the real British economy!” claimed one, seemingly oblivious to the fact that FTSE 100 is about as British a Lamb Biriyani.

“You can use figures to prove anything; look, I’ve just written on this paper that the UK is better off outside the EU, so there.

“End of.”

surrey_commuter

Stevo 666 wrote:

Surrey Commuter wrote:

It only took us 230 pages to agree - maybe we should stick to sums

Yay, we agree 8)

Not another accountant?

The son of one so maybe it is in my blood

surrey_commuter

The good news (for those of us that worry about pension fund deficits) is that gilt rates have doubled in the last two months.
In the interests of balance I will concede that this could also be construed as bad news

pinno

Surrey Commuter wrote:

Stevo 666 wrote:

Surrey Commuter wrote:

It only took us 230 pages to agree - maybe we should stick to sums

Yay, we agree 8)

Not another accountant?

The son of one so maybe it is in my blood

Me too. Thankfully, not much of it rubbed off. I wouldn't want to be known as a Dickhead.

verylonglegs

Looking back at some of the comments at least provides a few minutes of amusement.

https://www.theguardian.com/business/20 ... warns-hsbc

ddraver

briantrumpet wrote:

I'm not a great fan of James O'Brien (don't grow a beard if you can't stop fiddling with it, man!), but this is excruciatingly funny: http://www.lbc.co.uk/radio/presenters/j ... to-losing/

"walking through plymouth and seeing groups of immigrants" - Having just moved back to Plymouth and being forced to look for the low skilled labour he talks about I can say for sure that the caller is living in a dream world. I just went for a driving interview today and there was one "immigrant" in the room of people

He was one of the few that didnt scarper when the CRB check and the Drug Test was mentioned...

(Sorry, that's got nothing to do with the topic, just irked me)

Stevo_666

Pinno wrote:

Surrey Commuter wrote:

Stevo 666 wrote:

Surrey Commuter wrote:

It only took us 230 pages to agree - maybe we should stick to sums

Yay, we agree 8)

Not another accountant?

The son of one so maybe it is in my blood

Me too. Thankfully, not much of it rubbed off. I wouldn't want to be known as a Dickhead.

You don't need to be related to an accountant to get that accolade.

Alain Quay

"No 10 plays down warning of £66bn annual Brexit impact
Theresa May’s spokesman says figures in leaked government papers predicting 9.5% fall in GDP are not new.

Fantastic. Johnson-Gove-Farange should be hauled before Parliament.

pinno

Stevo 666 wrote:

Pinno wrote:

Surrey Commuter wrote:

Stevo 666 wrote:

Surrey Commuter wrote:

It only took us 230 pages to agree - maybe we should stick to sums

Yay, we agree 8)

Not another accountant?

The son of one so maybe it is in my blood

Me too. Thankfully, not much of it rubbed off. I wouldn't want to be known as a Dickhead.

You don't need to be related to an accountant to get that accolade.

All you have to do is go on a cycling forum but ffs, don't talk about bikes in any other way than 'It's got two wheels' or else you'll be shot down in flames.
Keeps you out of mischief though

Stevo_666

Joelsim wrote:

Brexiter annoyed by people pointing out that thing they were told would happen ‘is happening’



Brexit supporters are furious that people keep pointing out that the things they were told would happen if we voted to leave the EU are now actually happening.

In a week in which the IMF cut the UK’s 2017 growth forecast by 0.9% and economic activity dropped to its lowest level since 2009, Brexiters are furious they are being asked to take a cursory look at the news.

Not to Fujitsu it isn't.

And yet our growth forecasts are still comparable to growth forecasts for our major European competitors. Clearly words such as 'doomed' and 'disaster' are relative terms.

joelsim

Stevo 666 wrote:

Joelsim wrote:

Brexiter annoyed by people pointing out that thing they were told would happen ‘is happening’



Brexit supporters are furious that people keep pointing out that the things they were told would happen if we voted to leave the EU are now actually happening.

In a week in which the IMF cut the UK’s 2017 growth forecast by 0.9% and economic activity dropped to its lowest level since 2009, Brexiters are furious they are being asked to take a cursory look at the news.

Not to Fujitsu it isn't.

And yet our growth forecasts are still comparable to growth forecasts for our major European competitors. Clearly words such as 'doomed' and 'disaster' are relative terms.

Erm.

http://www.bbc.co.uk/news/business-37583196

And going back a few dozen pages, you know as well as I do that things don't change overnight. And of course...we haven't left yet.

Stevo_666

Joelsim wrote:

Stevo 666 wrote:

Joelsim wrote:

Brexiter annoyed by people pointing out that thing they were told would happen ‘is happening’



Brexit supporters are furious that people keep pointing out that the things they were told would happen if we voted to leave the EU are now actually happening.

In a week in which the IMF cut the UK’s 2017 growth forecast by 0.9% and economic activity dropped to its lowest level since 2009, Brexiters are furious they are being asked to take a cursory look at the news.

Not to Fujitsu it isn't.

And yet our growth forecasts are still comparable to growth forecasts for our major European competitors. Clearly words such as 'doomed' and 'disaster' are relative terms.

Erm.

http://www.bbc.co.uk/news/business-37583196

Cant see any comparison with our competitors in that link.

joelsim

Stevo 666 wrote:

Joelsim wrote:

Stevo 666 wrote:

Joelsim wrote:

Brexiter annoyed by people pointing out that thing they were told would happen ‘is happening’



Brexit supporters are furious that people keep pointing out that the things they were told would happen if we voted to leave the EU are now actually happening.

In a week in which the IMF cut the UK’s 2017 growth forecast by 0.9% and economic activity dropped to its lowest level since 2009, Brexiters are furious they are being asked to take a cursory look at the news.

Not to Fujitsu it isn't.

And yet our growth forecasts are still comparable to growth forecasts for our major European competitors. Clearly words such as 'doomed' and 'disaster' are relative terms.

Erm.

http://www.bbc.co.uk/news/business-37583196

Cant see any comparison with our competitors in that link.

Well no one else got downgraded like we did by the IMF last week.

Stevo_666

Joelsim wrote:

Stevo 666 wrote:

Joelsim wrote:

Stevo 666 wrote:

Joelsim wrote:

Brexiter annoyed by people pointing out that thing they were told would happen ‘is happening’



Brexit supporters are furious that people keep pointing out that the things they were told would happen if we voted to leave the EU are now actually happening.

In a week in which the IMF cut the UK’s 2017 growth forecast by 0.9% and economic activity dropped to its lowest level since 2009, Brexiters are furious they are being asked to take a cursory look at the news.

Not to Fujitsu it isn't.

And yet our growth forecasts are still comparable to growth forecasts for our major European competitors. Clearly words such as 'doomed' and 'disaster' are relative terms.

Erm.

http://www.bbc.co.uk/news/business-37583196

Cant see any comparison with our competitors in that link.

Well no one else got downgraded like we did by the IMF last week.

Try addressing point about growth rates. That was the point I was making, that even after the bad news, we are still forecast to grow in line with other major Euro economies.

Anything to say about that?