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 Post subject: The Exit Begins?
PostPosted: Sun Oct 23, 2016 4:26 pm 
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Location: Southampton
In the media today some character associated to the Banking trade was reported as saying that small as well as large are very carefully considering moving their operations from the City of London to either Paris, Frankfurt or Zurich as a result of Brexit. As soon as one goes there will I think be a rush for the door. It has always been claimed that the financial expertise of the City of London cannot be moved, this is rubbish - the city whizzkids with all their knowledge and expertise will simply pick up their laptops and passports and wave goodbye. The world is now a much bigger place than London!!!

The movement of manufactured goods from this country as a result of Brexit cannot be ignored either - some weeks ago Ford announced that engine production at their Bridgend plant will not now be increased as was planned despite a £15m bribe from the Welsh Assembly

This is I fancy just the beginning of the rush to the exit - in a years time if I am still around I hope that I am proved wrong


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 Post subject: Re: The Exit Begins?
PostPosted: Sun Oct 23, 2016 4:34 pm 
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Whatever your view of the bankers, a £1 million bonus will generally deliver £450,000 to the exchequer (I'm ignoring the effect of national insurance corporation tax relief which are not quite equal and opposite). If you replicate that several times over, your income tax receipts fall. A lot.

If you take profitable institutions abroad you move their tax base abroad so your corporation tax receipts fall. A lot.

If you reduce capital expenditure like Ford seem to be doing your productive capacity and output fall. A lot.

But at least we've got our country back :roll:

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 Post subject: Re: The Exit Begins?
PostPosted: Sun Oct 23, 2016 5:44 pm 
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CJ wrote:
Whatever your view of the bankers, a £1 million bonus will generally deliver £450,000 to the exchequer (I'm ignoring the effect of national insurance corporation tax relief which are not quite equal and opposite). If you replicate that several times over, your income tax receipts fall. A lot.

If you take profitable institutions abroad you move their tax base abroad so your corporation tax receipts fall. A lot.

If you reduce capital expenditure like Ford seem to be doing your productive capacity and output fall. A lot.

But at least we've got our country back :roll:


:salut: One day I must ask somebody what 'getting my country back ' actually means. And sooner or later the explanation for our woes that leavers now incant " it would have happened anyway" ,will start to become less believable, even to them.

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 Post subject: Re: The Exit Begins?
PostPosted: Sun Oct 23, 2016 7:41 pm 
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CJ wrote:
Whatever your view of the bankers, a £1 million bonus will generally deliver £450,000 to the exchequer


Unless they know all about tax avoidance and offshore banking and the Caymen Islands and all that stuff.

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 Post subject: Re: The Exit Begins?
PostPosted: Sun Oct 23, 2016 8:27 pm 
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It doesn't matter - as long as they keep dithering, things will just get worse.

They need to take action immediately, if they are serious about executing Brexit.

Obviously they can't do that because they are politicians and are incapable of actually doing anything as a matter of urgency.

The worst possible option of all is to endlessly drag it out in the hope of some future way of avoiding it all together; which appears to be their plan.

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 Post subject: Re: The Exit Begins?
PostPosted: Sun Oct 23, 2016 9:21 pm 
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The career went with Blair, the pension went with Brown, now the wife's public sector pension isn't looking that good now it's being curtailed shortly with notice of redundancy - we've been lied to for all these years and now the same professional wordsmiths want to debate Brexit until they have convinced us up is down, black is white, left is right - millions of people have lost a lot and feel they haven't got a lot more to lose.
Out now else I fear for the future.

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 Post subject: Re: The Exit Begins?
PostPosted: Mon Oct 24, 2016 9:45 am 
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I wonder how much of this panic is due to bankers and the city folk, devaluing the pound by scaremongering. The fall in the pound has given a boost to share prices. Has this been some kind of setup to make a killing by selling off their holdings while the demand is high. I'm no expert on share dealings or the banking world but it seems a bit odd to me.
Lets face it, nothing has changed since the vote and nothing will change until article 50 is set in motion. Had the stay campaigners and Cameron not fueled this stupidity with tales of woe, would any of this happened so early, before anything actually changed, I doubt it. I have a feeling someone is going to make a lot of money on the back of brexit.

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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 8:18 am 
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Tis all a load of old boll#cks!.

Just like low interest rates a strong or weak pound means winners and losers.

I am sure most of you know this already but a weak pound means that British companies
exporting their goods can sell their products cheaper than their European counterpart. Happy days!.

#Brexit. Yay!

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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 9:00 am 
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williamtravis wrote:
Tis all a load of old boll#cks!.

Just like low interest rates a strong or weak pound means winners and losers.

I am sure most of you know this already but a weak pound means that British companies
exporting their goods can sell their products cheaper than their European counterpart. Happy days!.

#Brexit. Yay!

What if they have to source raw materials from abroad, then their profits fall or the price of finished goods has to go up.
Not quite so black and white William.
I was thinking more along the lines of the city traders and banks using the weak pound to an advantage in snapping up cheap shares.

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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 9:11 am 
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Money markets do not like uncertainty, so the decision to leave has seen panic over the value of the pound, hence the fall in value.

The EEC said it needed to be sorted quickly, so we took our time. First rule of negotiation. Now we are in the who will be first to blink stage. The French and EEC supporters are screaming about the bad news for Britain. The Jocks are picking a fight , the Welsh are singing songs and the Northern Irish are split. So nothing has changed.

This will drag on until someone can find an excuse to have another referendum, which will present better terms to stay and we can all go back to being screwed by the French.

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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 9:38 am 
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Jethro wrote:
williamtravis wrote:
Tis all a load of old boll#cks!.

Just like low interest rates a strong or weak pound means winners and losers.

I am sure most of you know this already but a weak pound means that British companies
exporting their goods can sell their products cheaper than their European counterpart. Happy days!.

#Brexit. Yay!

What if they have to source raw materials from abroad, then their profits fall or the price of finished goods has to go up.


This is quite true . However if the pound was strong then the imported raw materials would be cheaper but the exported product more expensive hence my comment "tis a load of old b#llocks!!"

The same applies with interest rates. Wether high or low there are winners and losers.

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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 11:42 am 
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williamtravis wrote:
This is quite true . However if the pound was strong then the imported raw materials would be cheaper but the exported product more expensive hence my comment "tis a load of old b#llocks!!"

The same applies with interest rates. Wether high or low there are winners and losers.

That all depends on how much the pound goes up or down. If the pound is high other countries my be a cheaper place to purchase finished goods. We lose out on exports.
If the pound is low raw materials go up, cost rise. Unless you can pass that on to your customers your profits fall your company is heading for trouble. There is only a narrow margin either way before your company is heading for trouble. Bollocks it is not, it is a serious problem for any company making goods from raw material from abroad. Your view only works if your expenses remain the same and you are selling abroad to stronger currencies.

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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 4:34 pm 
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What we don't want to see, is a case of a company whose range of goods is 98% british and 2% foreign, the British goods would cost the same, regardless of a strong or weak pound - but puts prices up across the whole range by 10% due to the 2% foreign goods.
Also, why is diesel £112.9 in Bristol Tesco's? - it's £119.9 around here.

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Tolerance is a set allowance that ensures a good fit and smooth running. Any more tolerance and things get sloppy or don't work at all.
We live in a very, very tolerant society already.


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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 5:10 pm 
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Jethro wrote:

I was thinking more along the lines of the city traders and banks using the weak pound to an advantage in snapping up cheap shares.


They're not, nor are shares 'cheap' either.

Unless someone has made Gideon's £1.4bn pile of debt disappear since he was given the heave ho, the nations finances are f*cked. Brexit or no Brexit.

ergo GBP takes a bit of a bashing as the smart money goes out of currency and into equities.

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 Post subject: Re: The Exit Begins?
PostPosted: Tue Oct 25, 2016 6:24 pm 
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Rudolf Hart wrote:
Also, why is diesel £112.9 in Bristol Tesco's? - it's £119.9 around here.

I'd pay through the nose to escape the Fens too :mrgreen:

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