Brexit the economy and house prices part 7: Brexit Harder

kabayiri

Filo25 wrote: »

Calling it the "May deal" is probably pushing it a bit, they've all agreed to vaguely sign up to something that they know there is precious little chance of the EU committting to, maybe harsh but it looks like the UK Govt never really got far beyond negotiating with itself, the one time May did agree something with the EU she ended up voting against it herself.

Alright, let's call it the 585 document which PM May brought back from Brussels and presented to the HoP.

Makes little difference to me what you call it.

Only that and the default exit as defined by A50 conclusion are the given options (I avoid the term definitive). Anything else would require further consensus on both sides which is not readily forthcoming right now.

Kohoutek

In case anyone still believes that Brexit will not cause significant loss of business (and therefore tax revenue) from the City of London...

FT: Bank of America says no going back on its $400m plans for Brexit move

The world’s biggest banks are warning that there will be no going back from the actions they are taking to cope with potential Brexit disruption, which is expected to cost them as much as $400m each.

.....

BofA’s plans include moving $50bn of banking assets to Dublin and creating a 500-strong trading business in Ireland, which will also have a sizeable but as-yet unspecified asset base. The bank is also moving traders to a new Paris hub.

.....

“Dublin is our headquarters for our European bank now — full stop,” [BoA] said. “There isn’t a return. That bridge has been pulled up . . . From a trading perspective, likewise, Paris would be the European trading arm.”

buglawton

The sound of a gravy train hitting the buffers isn't pleasant.

Now, Ireland, the country whose government, after the '08 banking crisis required IMF assistance and a total restructuring. It'll be interesting to see where capital really wants to go post-Brexit.

movilogo

Airbus to stop A380 production because lack of orders. Shame they can't blame it on Brexit.

But remainers will not blame EU though.

andrewf75

movilogo wrote: »

Airbus to stop A380 production because lack of orders. Shame they can't blame it on Brexit.

But remainers will not blame EU though.

...the irony is that you are precisely like those remainers who blame everything on Brexit.

Some blame everything on Brexit, others blame everything on the EU, same argument from different sides and equally ridiculous

AlanP_2

movilogo wrote: »

Airbus to stop A380 production because lack of orders. Shame they can't blame it on Brexit.

But remainers will not blame EU though.

Why / How are the EU to blame?

Are you suggesting that the EU, by which I assume you mean the body that administers the affairs of member countries, should have bought each member of staff an A380 (or maybe an A380 for every citizen); and because they haven't Airbus are ceasing production due to a shortage of orders?

movilogo

Didn't stop Airbus to put the blame on Brexit previously.

https://www.bbc.co.uk/news/business-46984229

Zxcv_Bnm

buglawton wrote: »

The sound of a gravy train hitting the buffers isn't pleasant.

Now, Ireland, the country whose government, after the '08 banking crisis required IMF assistance and a total restructuring. It'll be interesting to see where capital really wants to go post-Brexit.

The EU's price for backing up Ireland will be tax harmonisation

Ireland won't be able to set its own corp tax rates, UK will

So Ireland will be just as expensive as anywhere else in EU and more expensive than UK

Herzlos

Without single market access we'll never be cheap enough for some businesses. If we don't have good trade links to the UK then they may as well source cheaper staff from countries with FTA's.

movilogo wrote: »

Airbus to stop A380 production because lack of orders. Shame they can't blame it on Brexit.

But remainers will not blame EU though.

Why would they blame they EU for Emirates reducing their order? Or because the smaller A330's seem to be favoured for long haul trips now?

movilogo wrote: »

Didn't stop Airbus to put the blame on Brexit previously.

https://www.bbc.co.uk/news/business-46984229

Brexit is going to make life a lot harder for Airbus since some parts are built in the UK and others in France (I think there are other sites too). Thus being in the single market is better for them. That's completely independent of the A380 going out of production in 2021.

movilogo

Without single market access we'll never be cheap enough for some businesses.

I think that is a good thing. UK businesses should focus on value and not on price. We can never be cheaper than China/Phillipines/Vietnam etc. anyway.

Wheter Brexit is good or bad this can never have the right answer because pros/cons are based on subjective opinions. some may think lower price is better and some others think the exact opposite.

Everyone hates change but change is the only constant in life.

EU should have stayed as a trading block. Over the years EU has morphed itself into a super state. It uses few net paying countries to prop several net receiver countries. Then uses votes from those receiving countries to play down UK.

UK's economy is bigger than smallest 15 EU countries economies combined. So, UK leaving EU is not just 1 of 27 leaving but more like 20% of the bloc leaving!