Brexit the economy and house prices part 7: Brexit Harder

mayonnaise

Rinoa wrote: »

How unfortunate.

Great news. And it sets a precedent. We'll still be able to collect some years' rent from companies desperate to leave the sinking ship that is brexit britain.

Canary Wharf Group currently collects more than 40 percent of its rent from banks, most of which are on long term leases. It would have been particularly vulnerable to a decision in the EMA’s favor given the likelihood that many financial services companies that are already shifting resources to the EU might have sought to use the same argument to trim their space in the area.

J_Nostin

mayonnaise wrote: »

Aviva, NatWest to join 'Brexodus' of business to EU




https://uk.reuters.com/article/uk-britain-eu/aviva-natwest-to-join-brexodus-of-business-to-eu-idUKKCN1Q81YW
Great job, brexiteers. :T

Under 1% of some insurance & banking companies UK-held financial assets are being moved from the UK to wherever? Oh the calamity! We're all doomed I tell you. Porridge it is for the rest of our lives. :rotfl:

Herzlos

Rinoa wrote: »

How unfortunate.

Yeah, we can still claw back £273 million in rent until it runs out. I wonder if they'll appeal further up or just pull a Johnson and refuse to pay? I wonder if they are allowed to sub-let?
If not, then someone (who is probably not UK resident) will collect rent on a building that'll sit derelict for 21 years. Good job!


Hopefully other companies jumping ship have better contracts that allow them to break it if something like Brexit happens.

buglawton

mayonnaise wrote: »

Where is the brexiteer outrage over this?
I clearly remember forum brexiteers' heartfelt concern for the average African farmer, disadvantaged by EU agricultural import tariffs.

As a Brexit voter I do recall posting that the British farmer will always come first. Plus ça change and all that.

Backbiter

J_Nostin wrote: »

Under 1% of some insurance & banking companies UK-held financial assets are being moved from the UK to wherever? Oh the calamity! We're all doomed I tell you. Porridge it is for the rest of our lives. :rotfl:

As a comparison, isn't our net EU contribution of £8.9bn a year significantly less than 1% of our GDP of £2trillion+?

Rinoa

mayonnaise wrote: »

Hello new poster. More like 10% and rising.



https://www.fnlondon.com/articles/londons-brexit-bill-800bn-and-counting-says-ey-20190107

Maths not your strong point.

mayonnaise

Rinoa wrote: »

Maths not your strong point.

You should be able to correct me then.

BRB_in_2019

mayonnaise wrote: »

You should be able to correct me then.

I will, if I may?
You might like to Google the word "liability" first.

According to your first link, the only company quoted with full figures for moving funds is Natwest.
It has applied to move funds to it's Dutch hub as follows:
Assets £6 billion.
Liabilities £7 billion.
That I believe makes a net gain to UK holdings of £1 billion.

Did you not wonder why there was no "10% are moving" doom-laden-type headlines as there surely would be if that were the case?
It's because the headline you read is not the full story.
There is a vast difference between gross and net assets being moved, and it would be helpful if some people could demonstrate the supposed superior intellect that they keep telling us is why they voted to remain and put it to good use understanding how the financial world operates before falling for media pitches and then posting inaccurate bias-inspired figures.
Thanks.

BRB_in_2019

Backbiter wrote: »

As a comparison, isn't our net EU contribution of £8.9bn a year significantly less than 1% of our GDP of £2trillion+?

Whatever % it is, it's still way too much to give the greedy, domineering, untrustworthy bunch IMHO.
By about £8.9 billion a year.

andrewf75

BRB_in_2019 wrote: »

Whatever % it is, it's still way too much to give the greedy, domineering, untrustworthy bunch IMHO.
By about £8.9 billion a year.

you make it sound like we're giving money away to an organisation that we're not actually a part of.