What happens to the FTSE if the UK becomes Socialist?

[Deleted User]

Worth remembering that the biggest ever one-day fall of any major currency happened the day after the '16 referendum.

A_T

The markets have never been particularly worried about a Corbyn government - when Farage dropped his candidates in Tory constituencies, more or less sealing a Conservative majority, the pound only strengthened slightly. A hardish Brexit remains the markets' main fear.

steampowered

talexuser wrote: »

I can't see how Corbyn could implement even half of his so called Venezuela policies, even if he got in with a majority (which is pretty unlikely). Surely the £ would collapse, and the drop in markets would stop any idiocies soon enough. As soon as people are hit in their pockets the honeymoon would be over pronto.

The large investment banks are saying a Corbyn government would be better than Brexit. https://www.telegraph.co.uk/business/2019/09/03/corbyn-better-no-deal-brexit-say-investment-banks-anti-capitalist/.

If you voted for Brexit, you cannot also be worrying about the impact of a Corbyn government on the stock market without being an utter hypocrite.

jsinc

You mean some people don't prioritise short-term stocks/fund returns over everything else? Those pesky kids eh - threatening to vote according to their own hopes and interests, not ours.

Sir_Robin

This conservatives have done absolutely nothing for young people they’ve simply helped big business and the rich get richer whilst running the country into the ground.

Go to any town center and your literally stepping over homeless people, live in a rural area and your stranded and isolated by the cuts to public transport. Tory Brexit will be the death-knell for the NHS because they care about nothing but enriching themselves.

Only Corbyn will instigate change for the better. Conservatives will let the county continue to fester.

Thrugelmir

bostonerimus wrote: »

It was the policies and poor economy of the Thatcher years that made me expatriate when I got the chance.

Which policies in particular?

The economy I remember was full of discontent prior to the election ............

dividendhero

ZingPowZing wrote: »

Worth remembering that the biggest ever one-day fall of any major currency happened the day after the '16 referendum.

Quite so..and UK was also the only country (developed or otherwise) to drop two credit ratings in one go.

Brexit is going to lead to economic & political upheaval..election 2019 will only decide if we get an extreme left or right wing government to "manage" this mess:eek:

Apodemus

Taking the title of this thread literally, the Labour manifesto has this:

We will change the criteria a company must meet to be listed on the London Stock Exchange so that any company that fails to contribute to tackling the climate and environmental emergency is delisted.

It’s not clear how this would be achieved but to be effective it presumably would need to be backed up with provisions to stop delisted companies simply off-shoring.

There is also this:

We will amend the Companies Act, requiring companies to prioritise long-term growth while strengthening protections for stakeholders, including smaller suppliers and pension funds.

Again, it is not clear what this would include, but presumably there would need to be restrictions on how company profits are recognised and distributed.

LikeARollingStone

What a silly question? I'm not political at all but I know that Corbyn is hardly proposing to turn is into the USSR. I think Scandinavian investors do jut fine - that's about the level of 'socialism' we're taking about.

Peter314

LikeARollingStone wrote: »

I think Scandinavian investors do jut fine - that's about the level of 'socialism' we're taking about.

Socialism in Scandanavian countries entails all but the very lowest earners paying substantial amounts of income tax.

https://en.wikipedia.org/wiki/Taxation_in_Sweden#Income_tax

32% above a threshold of KR18,800 (£1523).

The UK relies much more on taxing the very highest earners, and Labour plans on increasing this tax take still further, along with more taxes on big oil and multinationals.


The Swedish model is sustainable, but IMO the proposed further increases on UK high earners is likely to have the effect of driving many of those high earners overseas, much as happened in the 1970's.