Another new Brexit thread

[mcfc1632]

I'm not sure that the outflow of capital will be that much. Money will be moved prior to a deal - it's all 1s and 0s now for the most part anyway.
An EU transaction tax would simply get companies to set up UK subsidiaries and borrow in the UK.
The only funds that can be directly affected are those that cover Euro clearing - and stopping that happening in the UK could result in a full on US trade war with the EU as it would also stop the US from doing some Euro clearing in New York.

With respect - that might have gone over the heads of some;-)

Dublin is poised to take over from London as a global financial centre don't you know....

 

[Tb1981]

With respect - that might have gone over the heads of some;-)

Dublin is poised to take over from London as a global financial centre don't you know....

Dublin....capital city of the EUs biggest woman!
Small time country trying to act big but in reality just in the Germans pocket
Funnily enough Ireland are one of the reasons I wanted out of the EU
How much how they made over the years off the back of others??

 

[BlueAnorak]

With respect - that might have gone over the heads of some;-)

Dublin is poised to take over from London as a global financial centre don't you know....

AWS eu-west-1 may become a big player and that's for sure.

 

[Mazzarelli's Swiss Cheese]

Here's a Panorama episode from 1975 in which Tony Benn puts forward the anti EU case that is the very same as that which holds true now for people like me. For balance he's debating with Roy Jenkins who puts the pro EU case. It's a long watch, but notable that they were both Labour MP's - at once dispelling the myth that it was just the right that are Eurosceptic, and that it is just the tories that are divided over Europe. Also notable is the quality of the debate from both sides compared to the twitter size debates and politicians we have now.

 

[Vic]

Here's a Panorama episode from 1975 in which Tony Benn puts forward the anti EU case that is the very same as that which holds true now for people like me. For balance he's debating with Roy Jenkins who puts the pro EU case. It's a long watch, but notable that they were both Labour MP's - at once dispelling the myth that it was just the right that are Eurosceptic, and that it is just the tories that are divided over Europe. Also notable is the quality of the debate from both sides compared to the twitter size debates and politicians we have now.

"the myth that it was just the right that are Eurosceptic". 1975 not a myth.... 2020 yeah, bit of a myth....

 

[Churchlawtonblue]

Dublin....capital city of the EUs biggest woman!
Small time country trying to act big but in reality just in the Germans pocket
Funnily enough Ireland are one of the reasons I wanted out of the EU
How much how they made over the years off the back of others??

A Tax Haven, that could change very quickly if the UK lowered corporation tax.

 

[BlueAnorak]

That is why I was asking about 'did you understand the narrative'

The EU's planned Transaction tax - plus the EU's stated intention of a long term strategy to move 'power' from London to other EU financial centres (2015) - means that for the CITY it is perhaps better to go head to head now/in the coming years.

There is much misunderstanding amongst Remainers about the status of the CITY of London Vs Frankfurt, Paris and Dublin

There was nothing 'new' in that expression of frustration from Barnier - the UK just need to move on

Oh I understand the 'narrative'.
If they haven't done so already, lots of nameplate businesses will be springing up across the EU and in London. Wasted money for lawyers and auditors but that's about it.

 

[BlueAnorak]

Oh boy....being developed by the same team that has developed our world class track and trace system that went live a month ago one assumes?

Any business that hasn't migrated to container transport to/from the EU by December 31st is barking.

 

[BlueAnorak]

A Tax Haven, that could change very quickly if the UK lowered corporation tax.

The use of deferred taxation in the form of long term investment grants would have a big effect as well.

Indeed, the use of aditional tariff income (predicted to be £12.8bn) + non-returned contributions (£9bn) should be used en mass to reduce business taxation and introduce mass investment grants (as deferred taxation) as well. This will more than offset business increases in EU tariffs (predicted to be £5.6bn) and increased costs. An additional £16.2bn per annum in total revenue.
It should be noted that UK corporation tax in total in 2018/19 was £51.15bn so business could pay a 1/3 less tax.
I would prefer most of it in investment grants, as additional business tax savings will result in minimal investment in the future of the UK.They will simply be exported as profits to the lowest tax regieme.

 

[bluethrunthru]

Any business that hasn't migrated to container transport to/from the EU by December 31st is barking.

Any leaving country that hasn't developed a world class ( or even do-able) export and import system by December 31st is barking....oh that will be us then....