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Post by wannabee on Nov 14, 2022 20:19:28 GMT
Bexiteers said it was project fear that the city of london would lose some of its status and pulling power for high earners…. www.caproasia.com/2022/09/24/the-2022-global-financial-centres-index-32nd-edition/#:~:text=The%20top%20financial%20centre%20in,%2C%20Shanghai%2C%20Beijing%2C%20Shenzhen. The loss of share dealing was always going to happen even if the UK had stayed in the EU. I've posted the above link to show London and Paris positions in the world financial markets. It's the latest release from September. The London stock exchange represents just part of the financial markets. There has been a senior French financier, whose name escapes me, who has been campaigning since 2010 for all Euro share dealing to be held in the Euro area. It briefly happened when the UK left the EU, some of you may recall. It has always been an issue in the Eurozone that the main Euro share trading was in London, not in the Euro zone. The UK leaving the EU presented the opportunity to move share dealing from London to other centres. Before anyone gets hot and bothered as some reactions to this post are, it should be realised that London is the second largest financial centre in the world and deals on a world stage in many other financials such as banking, commodities, insurance, etc. London financial services are still growing as the world market grows. As soon as UK left the EU and mutual deal was done with Zurich to protect British and Swiss financial interests. The rest of the world economy is growing faster than the EU, Europe being the second slowest growing continental economy after Antarctica. During UK's membership of EEC/EU, the latter's current members' share of the world market declined from a third to less than a fifth, and the decline is getting faster as countries like India grow rapidly. The UK has always been a global nation and now outside the EU it can maximise its position in the world much better. Jam tomorrow, because it will not happen overnight but it will happen, with the UK being the third most influential nation in the world. www.usnews.com/news/best-countries/most-influential-countriesAs usual you have misunderstood what has occurred, it has nothing to do with Share Dealing It is the relative value of The London Stock Exchange versus the Paris Bourse
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Post by wannabee on Nov 14, 2022 21:23:20 GMT
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Post by Paul Spencer on Nov 14, 2022 21:38:49 GMT
He literally stood up in the HOC and said it was a good deal for the UK. And now he's admitting that he lied about the benefits of Brexit ... He also campaigned to leave, I wonder if he lied then too?
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Post by toppercorner on Nov 14, 2022 22:43:40 GMT
companies listed on the london stock exchange have lost cumulative value up to £1.5trillion because of brexit. wow
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Post by wannabee on Nov 14, 2022 23:20:10 GMT
companies listed on the london stock exchange have lost cumulative value up to £1.5trillion because of brexit. wow Mr Coke thinks its because of Share Trading He's been unusually silent since I pointed out his Stupidity
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Post by RipRoaringPotter on Nov 15, 2022 0:08:38 GMT
companies listed on the london stock exchange have lost cumulative value up to £1.5trillion because of brexit. wow Mr Coke thinks its because of Share Trading He's been unusually silent since I pointed out his Stupidity I am wondering what will be the positive slant put on this by our resident hardcore Brexiteeers. "Measuring stock market values in sheer monetry terms is such an arrogant French idea." "The problem is the LSE exchange complies with the rules. Here you can clearly see that Paris is not following the basic rule of never growing bigger than the LSE." "It will take time, but the LSE will boom once we sign the long-awaited deal to allow tariff-free imports of chewing gum from Bhutan."
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Post by mrcoke on Nov 15, 2022 8:23:05 GMT
www.caproasia.com/2022/09/24/the-2022-global-financial-centres-index-32nd-edition/#:~:text=The%20top%20financial%20centre%20in,%2C%20Shanghai%2C%20Beijing%2C%20Shenzhen. The loss of share dealing was always going to happen even if the UK had stayed in the EU. I've posted the above link to show London and Paris positions in the world financial markets. It's the latest release from September. The London stock exchange represents just part of the financial markets. There has been a senior French financier, whose name escapes me, who has been campaigning since 2010 for all Euro share dealing to be held in the Euro area. It briefly happened when the UK left the EU, some of you may recall. It has always been an issue in the Eurozone that the main Euro share trading was in London, not in the Euro zone. The UK leaving the EU presented the opportunity to move share dealing from London to other centres. Before anyone gets hot and bothered as some reactions to this post are, it should be realised that London is the second largest financial centre in the world and deals on a world stage in many other financials such as banking, commodities, insurance, etc. London financial services are still growing as the world market grows. As soon as UK left the EU and mutual deal was done with Zurich to protect British and Swiss financial interests. The rest of the world economy is growing faster than the EU, Europe being the second slowest growing continental economy after Antarctica. During UK's membership of EEC/EU, the latter's current members' share of the world market declined from a third to less than a fifth, and the decline is getting faster as countries like India grow rapidly. The UK has always been a global nation and now outside the EU it can maximise its position in the world much better. Jam tomorrow, because it will not happen overnight but it will happen, with the UK being the third most influential nation in the world. www.usnews.com/news/best-countries/most-influential-countries As usual you have misunderstood what has occurred, it has nothing to do with Share Dealing It is the relative value of The London Stock Exchange versus the Paris Bourse Apologies, my mind was obviously elsewhere at the time and I misread the graph/post.
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Post by mrcoke on Nov 15, 2022 8:33:50 GMT
companies listed on the london stock exchange have lost cumulative value up to £1.5trillion because of brexit. wow Mr Coke thinks its because of Share Trading He's been unusually silent since I pointed out his Stupidity Yes I was stupid. Looking at the graph, when does it start its decline? Weren't we in the EU when the graph peaked and started to fall?
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Post by mrcoke on Nov 15, 2022 8:35:11 GMT
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Post by Rednwhitenblue on Nov 15, 2022 8:38:28 GMT
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Post by mrcoke on Nov 15, 2022 8:57:57 GMT
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Post by toppercorner on Nov 15, 2022 9:41:32 GMT
From the telegraph no less:
"More austerity is a political choice, just as the first round of it was. Now, though, it is being presented to us as some kind of inevitability. This is not 2010 though. Yet George Osborne has materialised again advising Hunt on how to strip the very last meat off the bones of many struggling public services. This is repulsive."
"But this is not 2010. The Tories cannot blame Labour. We are in this mess (UK GDP fell by 0.6 per cent in September) because of Brexit. We import more than we export and lean on investors’ faith in UK assets. Then there was the insane Truss who had internalised Mark Zuckerberg’s motto “Move fast and break things”. Truss and Kwarteng’s budget imploded, playing havoc with the markets, pushing up interest rates and causing all kinds of chaos that the mere regime at the top of the party cannot sort out.
The public are now being asked again to tighten our belts - but this is not the same public of 10 years ago who will merrily go along with it as Hunt tries to recoup £50 billion primarily from public services.
Again, this is an ideological choice."
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Post by lordb on Nov 15, 2022 9:43:25 GMT
From the telegraph no less: "More austerity is a political choice, just as the first round of it was. Now, though, it is being presented to us as some kind of inevitability. This is not 2010 though. Yet George Osborne has materialised again advising Hunt on how to strip the very last meat off the bones of many struggling public services. This is repulsive." "But this is not 2010. The Tories cannot blame Labour. We are in this mess (UK GDP fell by 0.6 per cent in September) because of Brexit. We import more than we export and lean on investors’ faith in UK assets. Then there was the insane Truss who had internalised Mark Zuckerberg’s motto “Move fast and break things”. Truss and Kwarteng’s budget imploded, playing havoc with the markets, pushing up interest rates and causing all kinds of chaos that the mere regime at the top of the party cannot sort out. The public are now being asked again to tighten our belts - but this is not the same public of 10 years ago who will merrily go along with it as Hunt tries to recoup £50 billion primarily from public services. Again, this is an ideological choice." Biased left wing propaganda of course
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Post by wannabee on Nov 15, 2022 11:53:15 GMT
Yes I was stupid. Looking at the graph, when does it start its decline? Weren't we in the EU when the graph peaked and started to fall? The Bloomberg (I know you say you have trouble accessing) Graph which you originally replied to is more detailed It shows London Stock Exchange at its peak towards end of 2013, an obvious slump during Covid then a steady increase as we exited Covid up to end of 2020 then a steep decline since then As I said originally a Companies valuation can depend on many things. My theory is that the fundamentals of UK Business Supply Chains have been uniquely disrupted due to Brexit. Big Companies can and will adapt providing certainty is there which was absent right up to end of 2020. Investment decisions are not made during periods of uncertainty which dampen productivity Smaller Companies are not Agile enough nor have the Financial Strenth of scale to absorb new non Tarrif Costs which is why 33% of them have stopped Exporting to EU entirely Of course Covid generally and China supply chain issues were another but not unique factor. An interesting report by ESRI modelled what trade would look like if Brexit had not occurred It concluded that UK Trade to EU would be 16% higher and EU Trade to UK 20% higher I suspect you may dismiss but an interesting read nonetheless www.esri.ie/publications/how-has-brexit-changed-eu-uk-trade-flows
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Post by Rednwhitenblue on Nov 15, 2022 15:34:33 GMT
From the telegraph no less: "More austerity is a political choice, just as the first round of it was. Now, though, it is being presented to us as some kind of inevitability. This is not 2010 though. Yet George Osborne has materialised again advising Hunt on how to strip the very last meat off the bones of many struggling public services. This is repulsive." "But this is not 2010. The Tories cannot blame Labour. We are in this mess (UK GDP fell by 0.6 per cent in September) because of Brexit. We import more than we export and lean on investors’ faith in UK assets. Then there was the insane Truss who had internalised Mark Zuckerberg’s motto “Move fast and break things”. Truss and Kwarteng’s budget imploded, playing havoc with the markets, pushing up interest rates and causing all kinds of chaos that the mere regime at the top of the party cannot sort out. The public are now being asked again to tighten our belts - but this is not the same public of 10 years ago who will merrily go along with it as Hunt tries to recoup £50 billion primarily from public services. Again, this is an ideological choice." Just read that. Unsurprisingly tucked away in the features supplement, not the main paper. Think Mr Barclay will be on the blower to the editor questioning Ms Moore's allegiance...!
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Post by oggyoggy on Nov 16, 2022 19:42:49 GMT
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Post by foghornsgleghorn on Nov 16, 2022 21:05:23 GMT
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Post by Huddysleftfoot on Nov 16, 2022 22:46:54 GMT
Oops....
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Post by wannabee on Nov 17, 2022 1:02:42 GMT
About time people people are beginning to speak out about this Bullshit Since the 2019 Election there has been a collective Omerta about Brexit and Bozo's Oven Ready Turkey and to mix metaphors the Chicken are now coming home to roost It became a Badge of Honour to belive in Global Britain and any opposition was heretical and unpatriotic What a load of crap The Lunatics on the Right-wing of the Conservative Party want to drive the Country even further over a Cliff The more moderate mostly driven out and those that remain too timid to speak out Labour are shit scared of saying anything after their trouncing and are content to sit back and let the Conservatives make a Horlicks of the Economy and tear each other apart Anyone with a basic understanding of Economics could see the impending doom before, during and after. Self styled on the make "Experts" fed the frenzy of Pygmy Economics To be fair the Red Wallers were tired from 6 years of Austerity and levelling up and any change was worth a go but they didn't understand the long term consequences it was appealing Even better if we could blame Johnny Foreigner for all our problems In the face of indisputable evidence there will be a Pivot and its already begun That Brexit wasn't the problem it was how it was carried out These Zealots have no shame This Country has become a laughing stock Internationally mostly because we have voluntarily done it to ourselves
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Post by Rednwhitenblue on Nov 17, 2022 8:30:20 GMT
Ah but, as MrCoke points out using data from before the pandemic and comparing it to post pandemic and doing the same for other countries is just playing with statistics to suit your agenda! Not something you see numerous times in any of his quarterly reviews of course, nor when he repeatedly states that the UK experienced the largest G7 growth, context-free...
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Post by oggyoggy on Nov 17, 2022 9:38:04 GMT
Ah but, as MrCoke points out using data from before the pandemic and comparing it to post pandemic and doing the same for other countries is just playing with statistics to suit your agenda! Not something you see numerous times in any of his quarterly reviews of course, nor when he repeatedly states that the UK experienced the largest G7 growth, context-free... And he will say the OECD ranking us bottom out of 38 on growth over the next 2 years as the wrong type of statistic also no doubt. Nothing to do with brexit of course because unlike everyone else, we have had a war and pandemic to deal with!
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Post by Rednwhitenblue on Nov 17, 2022 9:59:12 GMT
Ah but, as MrCoke points out using data from before the pandemic and comparing it to post pandemic and doing the same for other countries is just playing with statistics to suit your agenda! Not something you see numerous times in any of his quarterly reviews of course, nor when he repeatedly states that the UK experienced the largest G7 growth, context-free... And he will say the OECD ranking us bottom out of 38 on growth over the next 2 years as the wrong type of statistic also no doubt. Nothing to do with brexit of course because unlike everyone else, we have had a war and pandemic to deal with! What he'll say is what he always says: that the forecasts will be wrong and that we shouldn't rely on them, before going on to do his own forecasting by saying he's confident that Brexit will be of massive benefit to the country (in the end). On the one hand, whenever you point out that the UK is suffering as a result of Brexit, he's very quick to point out that other countries are going through the same issues, so they can't be Brexit related. Then, when you point out that, despite all those countries going through the same issues, our impacts are worse, the response is always that there are highly specific UK issues at play, but not Brexit, of course. The disingenuousness is first rate
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Post by Paul Spencer on Nov 17, 2022 17:21:41 GMT
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Post by andystokey on Nov 17, 2022 17:44:13 GMT
Covid just delayed the visibility of this, the shock was always coming. All those who kept churning out the cries of "project fear" have gone very quiet recently.
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Post by toppercorner on Nov 18, 2022 10:51:22 GMT
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Post by wannabee on Nov 18, 2022 12:07:33 GMT
A supreme irony of "Global Britain" is that Brexit has made UK a more Closed Economy shrinking the Pie Liz kept nattering on about. It simply isn't possible to establish new Trade Links, at least not in the short term, in New Markets. It's not as if UK is making a new offering the vast majority of Trade Agreements are Rollovers and the New Trade Agreements with Australia, New Zealand and partially with Japan are dubious and of negligible Economic value The only major thing that has happened is its made it more difficult to Trade with its Biggest and Nearest Trading Partner People are beginning to realise this and are speaking out and getting angry A recent ERSI Report estimated If UK had remained in EU and normal trading had continued in line with other EU members actual performance UK Exports to EU would be 16% higher and EU Exports to UK 20% Higher www.esri.ie/news/brexit-reduced-overall-eu-uk-goods-trade-flows-by-almost-one-fifth
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Post by CBUFAWKIPWH on Nov 19, 2022 9:36:55 GMT
Covid just delayed the visibility of this, the shock was always coming. All those who kept churning out the cries of "project fear" have gone very quiet recently. Brexit - the political equivalent of waking up and finding a traffic cone at the end of your bed.
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Post by Seymour Beaver on Nov 19, 2022 9:59:43 GMT
6.9bn meals worth of food went to waste in the UK last year before leaving the farm (WWF).
40% of UK farms have crop losses due to lack of workers (NFU survey).
Govt says 38'000 seasonal worker visas would be available this year - industry body BBG says 60,000 minimum is required.
Govt is committed to reducing the number of seasonal visas to 28,000 in 2024.
Asylum seekers are not allowed to work whilst their applications are processed (ideally for Braverman - in Rwanda).
Uk food inflation is 16.4% according to ONS.
Lord (Simon) Wolfson - boss of Next and short of warehouse staff has said he has not got 'the Brexit I wanted".
Fuckwitt.
Never mind - wave a flag - there's a coronation next year folks.
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Post by wannabee on Nov 19, 2022 12:39:15 GMT
6.9bn meals worth of food went to waste in the UK last year before leaving the farm (WWF). 40% of UK farms have crop losses due to lack of workers (NFU survey). Govt says 38'000 seasonal worker visas would be available this year - industry body BBG says 60,000 minimum is required. Govt is committed to reducing the number of seasonal visas to 28,000 in 2024. Asylum seekers are not allowed to work whilst their applications are processed (ideally for Braverman - in Rwanda). Uk food inflation is 16.4% according to ONS. Lord (Simon) Wolfson - boss of Next and short of warehouse staff has said he has not got 'the Brexit I wanted". Fuckwitt. Never mind - wave a flag - there's a coronation next year folks. And the OBR Report which predicted wildly optimistic GDP growth in 2024/5 after Recession 2022/23 based on Net Migration being at 205K a year.to increase productivity Or 80K higher than their previous prediction Hunt has already come out and rubbished this and said the extra workers needed will come from upskilling, presumably from the more than half a million predicted to lose their jobs from the Recession The who thing is a bloody mess when Idealogy meets Reality as the Conservatives are a disparate bunch of individuals who's only common goal/idea/policy is what's in it for me
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Post by OldStokie on Nov 19, 2022 14:52:46 GMT
Brexit has become a disaster, not because we left the EU, but because the ERG insisted on a hard Brexit. So, between the ERG and Farage, they've fucked us over big and proper because we could have negotiated a much better deal had it not been for extreme right-wing ideology. And as usual, those right-wing ideologues haven't been affected while everybody except big business have, including our brilliant small business enterprises, many who have relocated to the EU or are now not trading with the EU because so much red tape is involved. Nobody can defend the position we find ourselves in now. Any damage in leaving is self inflicted.
OS.
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