If we vote for Brexit what happens

Conrad

Cadbury owners, Mondelez announce £75 million investment in Bourneville plant.


But, but, but Remainers promised me import costs would deter such investment, that it would all go to Europe, dohhh!


Yes I know they've been reducing bar size - good, we've got an obesity crisis that could do with smaller portion sizes.

wotsthat

A_Medium_Size_Jock wrote: »

Now (as has been said earlier) let's not get (again) too hung up on India.
Move on.
And without deception and downright lies please.

You should've moved on once you realised you were arguing with someone whose understanding of FDI was based on more than a 30 second study on Google.

Really interesting stuff IMO. Reminds me of when Generali used to post interesting background stuff for dumbos like me. Typically I'd thank people like that rather than calling them liars.

A_Medium_Size_Jock

In Germany, small & medium-sized firms suggest the least-possible trade barriers in both directions:

"It would be very desirable not to have trade barriers, and if so to have the least possible amount of trade barriers in both directions"

"We shouldn't forget that 750,000 jobs in Germany depend on the trade with the United Kingdom",

http://www.bbc.co.uk/news/business-39522265

Arklight

A_Medium_Size_Jock wrote: »

Look at it another way - the revenues of all the Indian companies in the UK would ensure that Scotland's (a whole country mind) deficit was non-existent for two whole years.

Oh plus I note you STILL ignore Government statistics stating that Indian companies are the third largest investors into the UK.
Some "reluctant" that is.


Now (as has been said earlier) let's not get (again) too hung up on India.
Move on.
And without deception and downright lies please.

You were given the opportunity to back out of this gracefully, Jock.

You were given the opportunity to save some face.

But no, you continue to strut and prance like a pompous chicken striding towards a hungry fox of hubris.

So...

The piece you quote - entitled "News Article" is from the almost unimaginably well financed - British High Commission in New Delhi. This palatial building occupies acres of prime real estate in the centre of the city and would befit the Maharajah himself, were he still to exist.

This entity does not have an entirely impartial interest in making it appear that everything in India's UK relations is going marvellously well and is terrific value for money and so what if a few more hospitals close in chilly old England when the chai wallahs need another payrise and the East Wing needs redoing with wall to wall iPads serving a consulate in a country which is of less real value to us then Belgium?

This "News Article" is from this report:

https://www.gov.uk/government/publications/dit-inward-investment-results-for-the-tax-year-2015-to-2016/department-for-international-trade-inward-investment-results-2015-to-2016

A report which I can only conclude you either haven't read - or have read, but still remain hopelessly confused as to the difference between Foreign Direct Investment in £'s, and what they somewhat ambiguously refer to as "projects".

Neither the UKTI report, the Bank of Santander report, or the OECD figures bear out your hypothesis. India is a couple of % at best of our FDI, China even less so (who are also riding high in your news article).

Methodological note on FDI statistics
FDI projects:
DIT and its partners make all reasonable efforts to record and report all eligible FDI projects that meet DIT’s definitions and verification and reporting criteria.
Figures about the recorded FDI projects include those investments which received support from DIT and/or one of its regional and local partners (‘involved’ projects), as well as ‘non-involved’ projects, meaning those projects which have ‘landed’ in the UK without any involvement from DIT or partners.
Various external sources and FDI project and company databases have been used to identify, qualify and report eligible ‘non-involved’ FDI projects.
DIT’s definition of FDI projects covers wider types of investment, including those projects which are not announced by companies. This and other differences in methodology and verification processes explains the difference in the FDI project numbers published by DIT and other organisations, such as FT and EY.
Estimates of jobs and value of investment:
Job figures and investment values included in this report are estimates, made at the start of each investment project. New jobs capture total jobs likely to be created within 3 years from the start of the project. Safeguarded jobs include those jobs which were ‘saved’ as a result of the additional/ new inward investment.

So to summarise Jock - you might not be quite as clever as you think you are.

wotsthat

Conrad wrote: »

Cadbury owners, Mondelez announce £75 million investment in Bourneville plant.


But, but, but Remainers promised me import costs would deter such investment, that it would all go to Europe, dohhh!


Yes I know they've been reducing bar size - good, we've got an obesity crisis that could do with smaller portion sizes.

It's time to move on from what you think remainers promised you because they lost.

They haven't announced a new £75m investment by the way. They've just finished spending it and the decision to invest was made years ago way before Brexit was even a consideration. Good news for sure because some production moved to Poland whilst new lines were put in is now moving back but not the story you thought.

Google can sometimes be your friend. You would have realised you were completely wrong if you'd used it but, oh no, the confirmation bias was too strong.

mayonnaise

Arklight wrote: »

A report which I can only conclude you either haven't read - or have read, but still remain hopelessly confused as to the difference between Foreign Direct Investment in £'s, and what they somewhat ambiguously refer to as "projects".

I did my best to explain...

Conrad

wotsthat wrote: »

Google can sometimes be your friend. You would have realised you were completely wrong if you'd used it but, oh no, the confirmation bias was too strong.

I was going by this in The Independent today – I should have checked elsewhere as you are right in saying this is not new;

http://www.independent.co.uk/news/business/news/cadbury-modelez-shrinkflation-uk-consumers-warn-price-rises-chocolate-snacks-retail-a7671981.html

Separately on Friday, Mondelez announced that it had invested £75m in four new production lines at the iconic Bournville factory in Birmingham.

“This £75m investment we’ve made means our Bournville factory can now favourably compete against manufacturing facilities in other European markets and retain the majority of Cadbury Dairy Milk and Cadbury chocolate production right here in the UK,” Mr Caton said in separate press release

Conrad

A_Medium_Size_Jock wrote: »

In Germany, small & medium-sized firms suggest the least-possible trade barriers in both directions:


http://www.bbc.co.uk/news/business-39522265

Hang-on this must be fake, we were told German business was willing to sacrifice trade for Brussels? Remember we're only a small part of overall EU exports, not important, easily replaced, right?


Remain said we lied when predictions around mutual trade were made by leavers.

setmefree2

Bank of England’s Carney calls for UK-EU bank rules pact after Brexit
Brexit talks will be ‘litmus test’ for global rules, says BoE governor

Bank of England Governor Mark Carney called on Friday for Britain and the European Union to reach a sweeping deal to recognise each others’ bank rules after Brexit or risk a potentially damaging hit to financial services across Europe.

Mr Carney said in a speech at Thomson Reuters’ London office that banks had to be ready for a “hard” Brexit and he set a July 14th deadline for cross-border finance firms operating in Britain to tell the BoE how they would cope with an abrupt EU exit.

He also said he would push to ensure some clearing of euro-denominated transactions remains in London after Brexit.

Mr Carney said the BoE needed to be prepared for a worst-case Brexit outcome, and alongside his speech, the BoE’s top banking regulator, Sam Woods, sent a letter to financial firms with cross-border activities ordering them to set out Brexit plans.

European banks which operated in London on the basis of passporting should be prepared to set up separately capitalised subsidiaries in Britain and submit to direct BoE regulation if Britain and the EU could not reach a deal, Mr Woods said.

http://www.irishtimes.com/business/economy/bank-of-england-s-carney-calls-for-uk-eu-bank-rules-pact-after-brexit-1.3040505

Also

http://uk.reuters.com/article/us-britain-boe-carney-idUKKBN1791DU

https://www.theguardian.com/business/2017/apr/07/brexit-city-europe-carney-bank-of-england-uk-eu

setmefree2

UK house price growth 'weakest since 2013', Halifax property market index shows

Growth in house prices was down significantly in March compared to the same month last year, new research suggests.

Halifax's property market index showed that prices rose by just 3.8% last month, a great deal lower than the 10% increase recorded in March 2016.

It marks the weakest levels recorded in almost four years.

Martin Ellis, a housing economist at Halifax, said: "The annual rate of house price growth has more than halved over the past 12 months.

http://news.sky.com/story/uk-house-price-growth-weakest-since-2013-halifax-property-market-index-shows-10828294