Brexit, The Economy and House Prices (Part 2)

A_Medium_Size_Jock

mayonnaise wrote: »

MUFG eyes Amsterdam as post-Brexit EU base




https://www.ft.com/content/158dcffe-7535-11e7-90c0-90a9d1bc9691

Isn't it good to see that such concern for bankers continues - despite their being no such similar concerns mentioned during the "crash" when how many of their jobs disappeared?
:whistle:

From that link:

Such a shift could involve hundreds of jobs moving to Amsterdam out of the 2,100 people MUFG employs in London. But one person briefed on the plan said it would initially affect fewer than 100 jobs.

So far though, banking jobs are increasing and no large-scale moving of jobs is apparent:
http://forums.moneysavingexpert.com/showpost.php?p=72893701&postcount=1942

always_sunny

A_Medium_Size_Jock wrote: »

No, I only responded to an obviously incorrect supposition that the UK could not compete with it's supposedly lower productivity and higher costs.
Since Mondelez and their increasing range manufactured here within the UK say otherwise, you are the one reading too much into this; the wages of Polish workers in this case seems irrelevant.
Modelez has increased their UK-produced range.
Mondelez has said that their UK production is globally competitive.

"However you want to roll it" this is to the benefit of UK workers.

It really depends on how you look at things and there's no 'benefit' to UK workers in general but only to remaining UK workers in this plant and the benefit is that roles are [for now] secure.

Before the investment, the cost to produce a chocolate bar there was 3 times the cost to produce it in Germany and the investment led to 200 job losses, improve production to make the plant competitive.

I am not the one saying it, it's Mondelez reporting, but you can believe whatever suits you.

always_sunny

A_Medium_Size_Jock wrote: »

So far though, banking jobs are increasing and no large-scale moving of jobs is apparent:
http://forums.moneysavingexpert.com/showpost.php?p=72893701&postcount=1942

Absolutely, all these companies are seizing up and preparing for possible Brexit moves just in case... once the UK makes up its mind, one way or another they will happy to cancel all plans. That, and the EU agencies here will also stay. :rotfl: Believing is power!

mayonnaise

Brexit Hopes Fade for Some Who Want It So Badly

The fishing industry is desperate to leave the European Union. It also likes exporting to the single market.

“All the fishermen wanted Brexit"

People in the industry want to get back autonomy over the country and its waters to shut out foreign competition. Yet they also want to retain the benefits of the single European market with no return to borders, tariffs and bureaucracy when shipping their goods to the continent.

https://www.bloomberg.com/news/articles/2017-07-31/brexit-hopes-fade-for-some-who-want-it-so-badly

Another bad case of 'have your cake and eat it'.

kabayiri

I thought all the talk after the GFC was about the need to diversify away from banking?

Maybe the Brexiteers are just carrying out the proclaimed wisdom which poured out of all those liberal journos at the time.

Oh...I forgot. It's only an important point or rule when it suits.

There are some givens in life : the EU hate our banking industry; we in turn hate the French agriculture subsidies; and everyone hates the Spanish fishing in whatever bit of water they can find.

A_Medium_Size_Jock

always_sunny wrote: »

Absolutely, all these companies are seizing up and preparing for possible Brexit moves just in case... once the UK makes up its mind, one way or another they will happy to cancel all plans. That, and the EU agencies here will also stay. :rotfl: Believing is power!

I hate to tell you this but .............. it is not up to the UK to "make up it's mind", it is up to the EU to put forward their proposals.
Article 50 and Article 218(3) make that very clear.
The UK can of course react to EU proposals but according to the rules the EU are the ones who must put forward proposals.
These may then be negotiated with us (the UK), and then the EU must by vote agree to these proposals.

It is only natural that any company should prepare for circumstances of which it is forewarned - but can you not recognise the difference between preparing and putting into action?

Then there is the likes of this:

London will continue to outpace its biggest financial rivals in Europe despite increased EU efforts to claw at the City’s supremacy.

http://www.cityam.com/269397/european-brexit-battle-heats-up-london-set-continue
It does appear that much contradiction exists surrounding this topic.
Recent experience suggests however that much of the negativity is so far unfounded.

Oh as to those EU agencies, the almost farcical infighting continues.
http://www.bbc.co.uk/news/uk-40772332

And nice though your somewhat childish graphics may be, in reality it does not in any way aid this debate.

kabayiri

A_Medium_Size_Jock wrote: »

...
And nice though your somewhat childish graphics may be, in reality it does not in any way aid this debate.

Oh, I don't mind them if they are funny/witty.

Toxic Toastie's were occasionally that.

This aint...

Thrugelmir

gfplux wrote: »

It's not always about the labour cost.

That's why I said overhead costs in my earlier post. Though is a major consideration.

always_sunny

A_Medium_Size_Jock wrote: »

And nice though your somewhat childish graphics may be, in reality it does not in any way aid this debate.

If you have no sense of humour perhaps... I think it's very appropriate!
(BTW, the bear is the banking industry and the poke is Brexit)

Thrugelmir

kabayiri wrote: »

From products I am personally aware about.

Re hifi : Meridian; Rega; Naim.

The top of the line Siemens microwave is also made in the UK, the cheaper ones come from elsewhere.

A company like Rega get various bits made from all over the UK, including parts from Scotland for example.

During the last drop of sterling against the euro a couple of years back, Rega chose to get a specialist digital motor from an UK supplier rather than Dutch. Both units were high quality, it just hedged them from price variations.

The reputation for supporting product well beyond their sales life is high amongst UK manufacturers, and they attract very strong following from educated consumers from Japan to Canada.

The Naim MUSO is manufactured in China that I do know. Do you own any Naim or Rega kit? Our Hi FI system is built entirely on NAIM products.