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Post by wannabee on Oct 13, 2024 11:45:31 GMT
Why is Epstein's mate even given the time of day? These self appointed experts, our apparent betters, are all compromised to the hilt. If the Press could flush out Andrew, if they could substantiate allegations against Mandelson, they would. Mandelson is an oily Machiavellian character who most certainly knows where a lot of bodies are buried. From the press reports on their characters they seem to be very similar I'd expect Mandelson to have something very similar to Epstein's "Black Book" At the root of most of these it's a case of "Follow the Money" as obviously from Mandelson's part he has quite different, shall we say tastes, to Epstein. |
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Post by iancransonsknees on Oct 13, 2024 12:22:05 GMT
Why is Epstein's mate even given the time of day? These self appointed experts, our apparent betters, are all compromised to the hilt. If the Press could flush out Andrew, if they could substantiate allegations against Mandelson, they would. Mandelson is an oily Machiavellian character who most certainly knows where a lot of bodies are buried. From the press reports on their characters they seem to be very similar I'd expect Mandelson to have something very similar to Epstein's "Black Book" At the root of most of these it's a case of "Follow the Money" as obviously from Mandelson's part he has quite different, shall we say tastes, to Epstein. I'm sure they could be serviced by people with the right access. |
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Post by mrcoke on Oct 13, 2024 13:04:54 GMT
Why is Epstein's mate even given the time of day? These self appointed experts, our apparent betters, are all compromised to the hilt. Nothing he has said on the EU and rebuilding bridges is wrong. You are correct. Mendeson is another UK duplicitous polifician who holds the distinction of having to resign twice from Blair's cabinet due to scandal. He is correct that the EU will actually be reluctant for the UK to return and lose the momentum towards a united states of Europe, although they would welcome the £billions of contribution. He is correct about low investment. The UK has been the lowest investor in the G7 for 24 of the last 30 years. Maasricht and the formation of the single market was disastrous for UK industry. www.theguardian.com/business/2024/oct/13/labours-economic-challenge-isnt-simple-it-must-curb-city-power-and-keep-it-on-board#:~:text=Business%20investment%20in%20the%20UK,But%20not%20so%20fast. If you have a single market where would you invest and build a factory? Not, I suggest on an island, where wages and business taxes are high, planning is a minefield, energy costs are high etc. Where you would invest depends on the nature of the business. If logistics/distribution is important you are more likely to invest in the centre of the market nearest most of the customers, I.e. between northern France and western Germany. If employment costs are high then you will invest where labour costs are lower like eastern Europe. If you qualify for government assistance you are more likely to get it where the EU places regional aid, which is the periphery of the EU. Ireland received huge amounts of EU funding and were able to reduce business taxes to attract huge inward investment of businesses, notably head offices reporting business profits. Dare I say only Thatcher was able to successfully attract businesses to the UK, by offering tax breaks. After Thatcher when tax breaks ended and businesses like Samsung, Sony, Panasonic and others shut factories and left, on Mendelson's government's watch I might add. Over 1.5 million manufacturing jobs were lost during Blair and Brown years: www.investmentmonitor.ai/manufacturing/who-killed-british-manufacturing/?cf-viewI would also point out if people think UK politicians are as bad as I do, beware of foreign politicians and Brussels bureaucrats who have no interest in what is best for the UK, in fact just the reverse. The EU represents less than 15% of the world market and shrinking towards less than 10% in 10 years time, it will not be worth rejoining. We are better off getting closer to the world's fast growing economies like India, Gulf states, ASEAN countries, and being members of TPTPP, which Indonesia has now applied to join. Most importantly we need to invest in UK self sufficiency and reduce our dependency on imports like oil, gas, food, etc. like we have done with coal, and if we do import spread that dependency as wide as possible and not so heavily on the EU. |
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Post by wannabee on Oct 13, 2024 15:26:03 GMT
Nothing he has said on the EU and rebuilding bridges is wrong. If you have a single market where would you invest and build a factory? Not, I suggest on an island, where wages and business taxes are high, planning is a minefield, energy costs are high etc. Where you would invest depends on the nature of the business. If logistics/distribution is important you are more likely to invest in the centre of the market nearest most of the customers, I.e. between northern France and western Germany. If employment costs are high then you will invest where labour costs are lower like eastern Europe. If you qualify for government assistance you are more likely to get it where the EU places regional aid, which is the periphery of the EU. Ireland received huge amounts of EU funding and were able to reduce business taxes to attract huge inward investment of businesses, notably head offices reporting business profits. Dare I say only Thatcher was able to successfully attract businesses to the UK, by offering tax breaks. After Thatcher when tax breaks ended and businesses like Samsung, Sony, Panasonic and others shut factories and left, on Mendelson's government's watch I might add. Over 1.5 million manufacturing jobs were lost during Blair and Brown years: www.investmentmonitor.ai/manufacturing/who-killed-british-manufacturing/?cf-viewYour first para doesn't hold up to scrutiny when you consider an even smaller Island even further remote on the periphery, Ireland On average UK attracts about 1%/2% Of GDP in FDI per year in contrast Ireland generally receives above 20% of GDP in FDI per year and sometimes much higher. No doubt your comeback will be Ireland's low Corporate Tax Rate and it is perfectly correct. However you also quote Thatchers Tax Incentives in para two which is also correct The essential difference is that Thatchers method of Tax Incentives was to liberalise the Capital Markets and the Big Bang which gave INDIVIDUAL Tax breaks and has led to the deep wealth inequality we have today. Ireland on the other hand introduced low Corporate Tax Rates (long before joining EEC) which incentivised Corporations to establish Operations and has contributed greatly to the Irish Treasury and well paid employments but did not create Inequality You have said before and I agree that it's the responsibility of Governments to create the conditions for businesses to prosper. That is the failing of successive UK Governments not being part of EU. www.oecd-ilibrary.org/finance-and-investment/foreign-direct-investment-inflows-as-a-percentage-of-gdp_2ed8a090-en |
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Post by mrcoke on Oct 13, 2024 17:00:28 GMT
If you have a single market where would you invest and build a factory? Not, I suggest on an island, where wages and business taxes are high, planning is a minefield, energy costs are high etc. Where you would invest depends on the nature of the business. If logistics/distribution is important you are more likely to invest in the centre of the market nearest most of the customers, I.e. between northern France and western Germany. If employment costs are high then you will invest where labour costs are lower like eastern Europe. If you qualify for government assistance you are more likely to get it where the EU places regional aid, which is the periphery of the EU. Ireland received huge amounts of EU funding and were able to reduce business taxes to attract huge inward investment of businesses, notably head offices reporting business profits. Dare I say only Thatcher was able to successfully attract businesses to the UK, by offering tax breaks. After Thatcher when tax breaks ended and businesses like Samsung, Sony, Panasonic and others shut factories and left, on Mendelson's government's watch I might add. Over 1.5 million manufacturing jobs were lost during Blair and Brown years: www.investmentmonitor.ai/manufacturing/who-killed-british-manufacturing/?cf-viewYour first para doesn't hold up to scrutiny when you consider an even smaller Island even further remote on the periphery, Ireland On average UK attracts about 1%/2% Of GDP in FDI per year in contrast Ireland generally receives above 20% of GDP in FDI per year and sometimes much higher. No doubt your comeback will be Ireland's low Corporate Tax Rate and it is perfectly correct. However you also quote Thatchers Tax Incentives in para two which is also correct The essential difference is that Thatchers method of Tax Incentives was to liberalise the Capital Markets and the Big Bang which gave INDIVIDUAL Tax breaks and has led to the deep wealth inequality we have today. Ireland on the other hand introduced low Corporate Tax Rates (long before joining EEC) which incentivised Corporations to establish Operations and has contributed greatly to the Irish Treasury and well paid employments but did not create Inequality You have said before and I agree that it's the responsibility of Governments to create the conditions for businesses to prosper. That is the failing of successive UK Governments not being part of EU. www.oecd-ilibrary.org/finance-and-investment/foreign-direct-investment-inflows-as-a-percentage-of-gdp_2ed8a090-enYour repeated reference to the economic miracle of the Celtic Tiger since joining the EU at the same time as the UK is misplaced. From 1976 to 2016 Ireland received 44 billion from the EU. One can only imagine how the UK economy would have flourished had it received an equivalent level of funding relative to GDP. www.statista.com/chart/11574/who-feels-eu-membership-has-paid-off/The Irish nation are the most enthusiastic nation in the EU on membership which hardly surprising. I think I would be as well! Instead the UK has funded the regeneration of Ireland's , Spain's and Poland's economies just to name 3, by paying in for decades. Of course the UK is not the sole net contributer but other countries enjoy hosting and benefitting from EU institutions, such as the parliaments, courts, ports, banking, and administration, etc. I estimate that in terms of today's value of the £, the cumulative net financial contribution the UK has paid into the EU during 47 years of membership is close to £1 trillion. Good luck to Ireland, they have landed on their feet like Greece at the UK's expense, but the UK has left and can now start investing in our own economy and attracting FDI. |
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Post by wannabee on Oct 13, 2024 18:51:01 GMT
Your first para doesn't hold up to scrutiny when you consider an even smaller Island even further remote on the periphery, Ireland On average UK attracts about 1%/2% Of GDP in FDI per year in contrast Ireland generally receives above 20% of GDP in FDI per year and sometimes much higher. No doubt your comeback will be Ireland's low Corporate Tax Rate and it is perfectly correct. However you also quote Thatchers Tax Incentives in para two which is also correct The essential difference is that Thatchers method of Tax Incentives was to liberalise the Capital Markets and the Big Bang which gave INDIVIDUAL Tax breaks and has led to the deep wealth inequality we have today. Ireland on the other hand introduced low Corporate Tax Rates (long before joining EEC) which incentivised Corporations to establish Operations and has contributed greatly to the Irish Treasury and well paid employments but did not create Inequality You have said before and I agree that it's the responsibility of Governments to create the conditions for businesses to prosper. That is the failing of successive UK Governments not being part of EU. www.oecd-ilibrary.org/finance-and-investment/foreign-direct-investment-inflows-as-a-percentage-of-gdp_2ed8a090-enYour repeated reference to the economic miracle of the Celtic Tiger since joining the EU at the same time as the UK is misplaced. From 1976 to 2016 Ireland received 44 billion from the EU. One can only imagine how the UK economy would have flourished had it received an equivalent level of funding relative to GDP. www.statista.com/chart/11574/who-feels-eu-membership-has-paid-off/The Irish nation are the most enthusiastic nation in the EU on membership which hardly surprising. I think I would be as well! Instead the UK has funded the regeneration of Ireland's , Spain's and Poland's economies just to name 3, by paying in for decades. Of course the UK is not the sole net contributer but other countries enjoy hosting and benefitting from EU institutions, such as the parliaments, courts, ports, banking, and administration, etc. I estimate that in terms of today's value of the £, the cumulative net financial contribution the UK has paid into the EU during 47 years of membership is close to £1 trillion. Good luck to Ireland, they have landed on their feet like Greece at the UK's expense, but the UK has left and can now start investing in our own economy and attracting FDI. You cited UK being an Island on the periphery of Europe as a reason why it didn't attract Foreign Direct Investment My reply was Ireland is an even smaller Island and even further on the periphery than UK but it attracts 10 times the Foreign Direct Investment per Capita as UK You also said Thatcher employed Tax incentives to attract FDI which I agreed she did but is was tailored to enrich individuals which has led to the large Wealth disparity in UK and was transient as over time the Multinationals upped sticks Ireland also used Tax Incentives to attract FDI but in a way which contributes to the Countries Treasury via Corporation Tax not to enrich Individuals If you now wish to change the argument completely and focus on Ireland being a net recipient from EU of about €40Bn between 1973 and 2013 it is true but it is also true this is a fraction of what Ireland receives per year in Foreign Direct Investment It is also true that since 2013 Ireland has been a Net Contributor to EU and in that time has contributed about €25Bn with amounts increasing each year as the Economy continues to grow The EU concept of Contributions to a common Budget is that those that can afford to pay more do so. Its aimed at Leveling Up, which you may have heard about. The last Conservative Government used it as a catchphrase without ever intending to do so. Your estimate of UK Contributions is ridiculous by revaluing when the actual Contributions in the almost 50 years is about £150Bn Net www.statista.com/statistics/316736/uk-net-contributions-to-eu-budget/Poor Fiscal decisions by successive UK Governments are the reason for the parlous state of UK Economy not EU Membership |
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Post by mrcoke on Oct 13, 2024 19:46:43 GMT
Your repeated reference to the economic miracle of the Celtic Tiger since joining the EU at the same time as the UK is misplaced. From 1976 to 2016 Ireland received 44 billion from the EU. One can only imagine how the UK economy would have flourished had it received an equivalent level of funding relative to GDP. www.statista.com/chart/11574/who-feels-eu-membership-has-paid-off/The Irish nation are the most enthusiastic nation in the EU on membership which hardly surprising. I think I would be as well! Instead the UK has funded the regeneration of Ireland's , Spain's and Poland's economies just to name 3, by paying in for decades. Of course the UK is not the sole net contributer but other countries enjoy hosting and benefitting from EU institutions, such as the parliaments, courts, ports, banking, and administration, etc. I estimate that in terms of today's value of the £, the cumulative net financial contribution the UK has paid into the EU during 47 years of membership is close to £1 trillion. Good luck to Ireland, they have landed on their feet like Greece at the UK's expense, but the UK has left and can now start investing in our own economy and attracting FDI. You cited UK being an Island on the periphery of Europe as a reason why it didn't attract Foreign Direct Investment My reply was Ireland is an even smaller Island and even further on the periphery than UK but it attracts 10 times the Foreign Direct Investment per Capita as UK You also said Thatcher employed Tax incentives to attract FDI which I agreed she did but is was tailored to enrich individuals which has led to the large Wealth disparity in UK and was transient as over time the Multinationals upped sticks Ireland also used Tax Incentives to attract FDI but in a way which contributes to the Countries Treasury via Corporation Tax not to enrich Individuals If you now wish to change the argument completely and focus on Ireland being a net recipient from EU of about €40Bn between 1973 and 2013 it is true but it is also true this is a fraction of what Ireland receives per year in Foreign Direct Investment It is also true that since 2013 Ireland has been a Net Contributor to EU and in that time has contributed about €25Bn with amounts increasing each year as the Economy continues to grow The EU concept of Contributions to a common Budget is that those that can afford to pay more do so. Its aimed at Leveling Up, which you may have heard about. The last Conservative Government used it as a catchphrase without ever intending to do so. Your estimate of UK Contributions is ridiculous by revaluing when the actual Contributions in the almost 50 years is about £150Bn Net www.statista.com/statistics/316736/uk-net-contributions-to-eu-budget/Poor Fiscal decisions by successive UK Governments are the reason for the parlous state of UK Economy not EU Membership Ireland only started to contribute to the EU budget from 2018. EU contributions are not based on ability to pay or wealth. The UK was the second highest net contributer after Germany, and 5th highest contributer in terms of per capita. But the UK was 12th or lower in terms of GDP per capita so were paying more than our share, even after Thatcher negotiated a rebate. Your link shows historical contributions to the EU, but as you well know £1 billion in 1973 is equivalent to £15 billion today, hence my statement that today's value of the £, UK accumulated contribution is massive in today's context. The UK economy is not in a parlous state. We have full employment , the lowest unemployment since the UK joined the EEC in the 1970s, higher GDP growth than other EU G7 members, pension funds at record levels, low inflation, average wage increases above inflation and higher than many EU countries, etc. Read my 2024 H1 review. It is government finances that are in a parlous state, but nowhere near as bad as some EU countries. I wish you would stop talking this country down. I am deeply concerned at the griping at the new government. If Stsrmer does not succeed in getting the finances straightened out, the danger is that the UK electorate could lurch to the right as is happening in the EU, and happened in 1979 when we got Thatcher following the "winter of discontent". The prospects of a really right wing Tory government, or a Reform government, or some alliance of the two would make the Thatcher years with inner City riots and millions unemployed look like a party. |
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Post by mrcoke on Oct 14, 2024 8:37:41 GMT
UK Foreign Direct Investment (FDI) Last Tuesday was a landmark day when the Office for National Statistics released its FDI results for 2022. (1) Inward FDI broke the £2 trillion mark for the first time since records began, which represents a 74% increase since the EU referendum. This is the diametric opposite to those that said " Should the UK leave the EU, we predict about a 22% fall in FDI inflows". (2) Furthermore, EY has reported that in 2023 FDI projects increased by 6% from 2022, the UK outperforming every EU country except France in EY’s annual ranking of European countries by their ability to attract FDI. (3) France has topped Europe's list for the last five years due to massive efforts by Macron following the UK's decision to leave the EU. Hopefully Starmer can emulate that performance, starting today with the business summit (4), which I understand will be followed by a reception at St. Paul's Cathedral, where I'm given to understand King Charles will be in attendance. (Match that Emmanuel!) Over and above that, Europe as a whole recorded a 4% year-on-year decline in total projects recorded in 2023, which was the continent’s lowest FDI total since 2020 and was 11% lower than its pre-pandemic level, and 14% lower than 2017, which was Europe’s highest peak for projects in the last decade. Contrary to anti Brexit forecasts UK's FDI inward project total grows as Europe’s falls
1. www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/foreigndirectinvestmentinvolvingukcompanies/20222. cep.lse.ac.uk/pubs/download/brexit03_technical_paper.pdf 3. www.ey.com/en_uk/newsroom/2024/07/foreign-direct-investment-in-uk-grows-as-europe-declines 4. www.businesstimes.com.sg/international/uks-starmer-rolls-out-red-carpet-investors-major-summit-london
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Post by Ariel Manto on Oct 14, 2024 9:08:28 GMT
EES comes into fruition this November.
The entry-exit system (EES) will require non-EU citizens, including British travellers, to provide biometric data whenever they enter or leave Europe’s passport-free zone, the Schengen Zone - which includes Spain, France and Portugal. Children under 12 will be exempt. The entry-exit system will replace passport stamping and is expected to cause huge delays at busy airports and ports such as Dover, where French officials conduct checks on British soil. UK holidaymakers must register their biometric details on their first visit to the EU after the new system is rolled out. British travellers who then return to the Schengen area within three years - and have already registered - will only need to provide either their fingerprint or photo at the border on entry and exit.
The automated border control checks will help the EU ensure that people do not overstay the 90-day limit. The new registration process is set to be introduced ahead of the new visa waiver - the European Travel Information and Authorisation Scheme (Etias) - in 2025. Once Etias launches, UK passport-holders will also need a visa waiver to visit any countries in the Schengen Area. This encompasses all EU countries (including non-EU states Iceland, Norway, Switzerland and Liechtenstein), but not Cyprus and Ireland.
At least the UK is back on the European Foreign Affairs Council with all 27 EU Foreign Ministers to get back to cooperating closely with the EU on foreign policy matters.
Slowly but surely...
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Post by mrcoke on Oct 14, 2024 22:12:37 GMT
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Post by wannabee on Oct 14, 2024 22:20:50 GMT
Good news obviously but what has it got to do with Brexit? Explain why this couldn't be done within EU? |
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Post by wannabee on Oct 16, 2024 17:50:00 GMT
City of London chief ( Lord Mayor of the City of London, Michael Mainelli) says Brexit 'disaster' cost 40,000 finance jobsMichael Mainelli said Dublin had gained most, attracting 10,000 positions, while cities such as Milan, Paris and Amsterdam had also benefited from jobs migrating from London after Britain voted to quit the EU trading bloc in 2016. Economic output in the heart of Britain's financial sector, including banks and wealth funds, has fallen by more than 15% since late 2019, just before the UK formally left the EU. Overall, financial services output in Britain has fallen by 1% since late 2019 - a stark contrast with France and Germany, where it has increased by 8%, and Ireland's 18% growth, national account data shows. British financial services exports have been overtaken by other business services, such as law or advertising. Britain's official budget forecaster said in March that its prediction Brexit would cause trade volumes to shrink by 15% was "broadly on track". hr.economictimes.indiatimes.com/news/industry/city-of-london-chief-says-brexit-disaster-cost-40000-finance-jobs/114285203
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Post by foghornsgleghorn on Oct 16, 2024 19:11:14 GMT
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Post by thehartshillbadger on Oct 16, 2024 19:21:09 GMT
I’m sure he can’t sleep at night |
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Post by Ariel Manto on Oct 16, 2024 19:34:26 GMT
I’m sure he can’t sleep at night Too busy shagging someone else's wife, no doubt. * * allegedly |
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Post by Deleted on Oct 19, 2024 14:47:13 GMT
great. just great.
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Post by Ariel Manto on Oct 19, 2024 21:00:51 GMT
It’s not like The Times to come round to the sensible line of thinking some of us were espousing about 8-10 yeas ago, is it? |
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Post by georgeberrysafro on Oct 19, 2024 22:09:52 GMT
Is there anyone around that still supports brexshit and thinks it's still a good thing? Or have most people realised what a monumental f#%k up it was, is and will continue to be in the future of the country?
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Post by smallthorner on Oct 19, 2024 22:32:13 GMT
Johnson and Farage should be sent to the Tower of London for treason. |
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Post by 4372 on Oct 19, 2024 22:35:39 GMT
Is there anyone around that still supports brexshit and thinks it's still a good thing? Or have most people realised what a monumental f#%k up it was, is and will continue to be in the future of the country? Yes, Mr Coke and David Frost. Although I think that may actually be the same person, so just one really. Last weekend I visited a Brazilian Portuguese Restaurant. I got talking to staff there. They were saying how many Portuguese staff had gone home in the last few years. "Because of Covid?" I asked. "No, because of Brexit" was the immediate and definite response of staff. I could see the person with me fall to the floor as they realised the impact of their decision eight years ago on their fellow men. Time and time again on here people argue the economic reasons for being in or out of the EU. There is no realisation of the historical background to the formation and development of The EU, and the idea that by developing friendships and cultural links of all kinds between the people of Europe, you are simply trying to ensure that war never again comes to the continent. Never again should people die in their millions, When it is possible instead to develop peace and prosperity for all. |
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Post by mtrstudent on Oct 20, 2024 4:55:21 GMT
Is there anyone around that still supports brexshit and thinks it's still a good thing? Or have most people realised what a monumental f#%k up it was, is and will continue to be in the future of the country? Yes, Mr Coke and David Frost. Although I think that may actually be the same person, so just one really. Last weekend I visited a Brazilian Portuguese Restaurant. I got talking to staff there. They were saying how many Portuguese staff had gone home in the last few years. "Because of Covid?" I asked. "No, because of Brexit" was the immediate and definite response of staff. I could see the person with me fall to the floor as they realised the impact of their decision eight years ago on their fellow men. Time and time again on here people argue the economic reasons for being in or out of the EU. There is no realisation of the historical background to the formation and development of The EU, and the idea that by developing friendships and cultural links of all kinds between the people of Europe, you are simply trying to ensure that war never again comes to the continent. Never again should people die in their millions, When it is possible instead to develop peace and prosperity for all. My granddad was really pro European integration. He got forced out of europe at Dunkirk then went back in through Italy. Saw some real horrors and said don't ever let it happen again. |
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Post by numpty40 on Oct 23, 2024 16:00:17 GMT
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Post by wannabee on Oct 23, 2024 16:11:24 GMT
Could have put this on Starmer or Ukraine thread but in any case proof positive that in a Global World individual Countries can't go it alone. Some people don't like Globalisation but they don't like being poor either. As part of Labour's plan to reset relationships with EU, encourage inward investment, cooperation on Defence and create jobs and Wealth in UK a Joint Agreement has been signed with Germany. As a first step German Defence Contractor Rheinmetall will build a Factory in UK creating 400 Jobs to build Artillery Barrels for German and UK Defence Forces. It will mean that artillery barrels are being manufactured in the UK for the first time in a decade, and they will use steel components produced by Sheffield Forgemasters. Rheinmetall (Germany's largest Defence Contractor) executive Armin Papperger told the FT the company’s investment in Britain would ensure that “the UK remains a leader in developing and manufacturing defence technologies that safeguard both national and global security”.I had a particular chuckle at those who maintain Brexit was about "Sovereignty" at this comment Germany’s largest defence contractor said it could “imagine” one day also producing explosive powder for ammunition in the UK, adding that it was striving to boost the “sovereign capabilities” of its customers.www.ft.com/content/19199b16-1418-4a87-8774-689428008244 |
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Post by numpty40 on Oct 23, 2024 16:30:51 GMT
Could have put this on Starmer or Ukraine thread but in any case proof positive that in a Global World individual Countries can't go it alone. Some people don't like Globalisation but they don't like being poor either. As part of Labour's plan to reset relationships with EU, encourage inward investment, cooperation on Defence and create jobs and Wealth in UK a Joint Agreement has been signed with Germany. As a first step German Defence Contractor Rheinmetall will build a Factory in UK creating 400 Jobs to build Artillery Barrels for German and UK Defence Forces. It will mean that artillery barrels are being manufactured in the UK for the first time in a decade, and they will use steel components produced by Sheffield Forgemasters. Rheinmetall (Germany's largest Defence Contractor) executive Armin Papperger told the FT the company’s investment in Britain would ensure that “the UK remains a leader in developing and manufacturing defence technologies that safeguard both national and global security”.I had a particular chuckle at those who maintain Brexit was about "Sovereignty" at this comment Germany’s largest defence contractor said it could “imagine” one day also producing explosive powder for ammunition in the UK, adding that it was striving to boost the “sovereign capabilities” of its customers.www.ft.com/content/19199b16-1418-4a87-8774-689428008244I don't think the UK ever intended to 'go it alone', hence the reason they applied for membership of the CPTPP. Agree though that it's good to see that business can be conducted between European countries without the necessity to be in the EU. |
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Post by wannabee on Oct 23, 2024 18:18:12 GMT
Could have put this on Starmer or Ukraine thread but in any case proof positive that in a Global World individual Countries can't go it alone. Some people don't like Globalisation but they don't like being poor either. As part of Labour's plan to reset relationships with EU, encourage inward investment, cooperation on Defence and create jobs and Wealth in UK a Joint Agreement has been signed with Germany. As a first step German Defence Contractor Rheinmetall will build a Factory in UK creating 400 Jobs to build Artillery Barrels for German and UK Defence Forces. It will mean that artillery barrels are being manufactured in the UK for the first time in a decade, and they will use steel components produced by Sheffield Forgemasters. Rheinmetall (Germany's largest Defence Contractor) executive Armin Papperger told the FT the company’s investment in Britain would ensure that “the UK remains a leader in developing and manufacturing defence technologies that safeguard both national and global security”.I had a particular chuckle at those who maintain Brexit was about "Sovereignty" at this comment Germany’s largest defence contractor said it could “imagine” one day also producing explosive powder for ammunition in the UK, adding that it was striving to boost the “sovereign capabilities” of its customers.www.ft.com/content/19199b16-1418-4a87-8774-689428008244I don't think the UK ever intended to 'go it alone', hence the reason they applied for membership of the CPTPP. Agree though that it's good to see that business can be conducted between European countries without the necessity to be in the EU. The UK already had Free Trade Agreements with all CPTPP Countries except Malaysia and Brunei while in the EU which were rolled over on exit from EU The government assessment was that GDP would increase by 0.08% by joining CPTPP,. I Don't think this compensates for loss of Free Trade with EU, do you? |
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Post by numpty40 on Oct 23, 2024 18:54:21 GMT
I don't think the UK ever intended to 'go it alone', hence the reason they applied for membership of the CPTPP. Agree though that it's good to see that business can be conducted between European countries without the necessity to be in the EU. The UK already had Free Trade Agreements with all CPTPP Countries except Malaysia and Brunei while in the EU which were rolled over on exit from EU The government assessment was that GDP would increase by 0.08% by joining CPTPP,. I Don't think this compensates for loss of Free Trade with EU, do you? But under CCTPP the tariffs for goods and services are more or less wiped out and the countries involved in CCTPP produced 40% of the world's total gross domestic product whilst the EU produced 15%. |
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Post by wannabee on Oct 23, 2024 19:09:11 GMT
The UK already had Free Trade Agreements with all CPTPP Countries except Malaysia and Brunei while in the EU which were rolled over on exit from EU The government assessment was that GDP would increase by 0.08% by joining CPTPP,. I Don't think this compensates for loss of Free Trade with EU, do you? But under CCTPP the tariffs for goods and services are more or less wiped out and the countries involved in CCTPP produced 40% of the world's total gross domestic product whilst the EU produced 15%. I have absolutely no idea where you are getting your figures from but they are WILDLY incorrect CPTPP member countries have a combined population of 500 million and GDP of £9 trillion. For reference, although the EU is a similar size, with a GDP of £11 trillion, the value of our total trade to the EU is much higher, at £557 billion. All Trade Agreements "wipe out" Tariffs which the UK had with 9 or the 11 CPTPP Countries within EU and after Brexit when it rolled over those Agreements www.iod.com/news/global-business/flying-the-flag-for-global-britain-how-valuable-is-cptpp-for-the-uk-really/ |
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Post by numpty40 on Oct 23, 2024 19:51:59 GMT
But under CCTPP the tariffs for goods and services are more or less wiped out and the countries involved in CCTPP produced 40% of the world's total gross domestic product whilst the EU produced 15%. I have absolutely no idea where you are getting your figures from but they are WILDLY incorrect CPTPP member countries have a combined population of 500 million and GDP of £9 trillion. For reference, although the EU is a similar size, with a GDP of £11 trillion, the value of our total trade to the EU is much higher, at £557 billion. All Trade Agreements "wipe out" Tariffs which the UK had with 9 or the 11 CPTPP Countries within EU and after Brexit when it rolled over those Agreements www.iod.com/news/global-business/flying-the-flag-for-global-britain-how-valuable-is-cptpp-for-the-uk-really/Apologies I was quoting figures from the original agreement involving the States. But my initial argument still stands, the UK haven't tried to go alone they have sought trade deals with CPTPP and the States and from your original post have also made a significant trade deal with the major EU country. Germany is on it's arse and it's nothing to do with a Starmer 'reset', they certainly aren't investing in post Brexit UK for the good of the UK..... |
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Post by wannabee on Oct 23, 2024 21:21:21 GMT
I have absolutely no idea where you are getting your figures from but they are WILDLY incorrect CPTPP member countries have a combined population of 500 million and GDP of £9 trillion. For reference, although the EU is a similar size, with a GDP of £11 trillion, the value of our total trade to the EU is much higher, at £557 billion. All Trade Agreements "wipe out" Tariffs which the UK had with 9 or the 11 CPTPP Countries within EU and after Brexit when it rolled over those Agreements www.iod.com/news/global-business/flying-the-flag-for-global-britain-how-valuable-is-cptpp-for-the-uk-really/Apologies I was quoting figures from the original agreement involving the States. But my initial argument still stands, the UK haven't tried to go alone they have sought trade deals with CPTPP and the States and from your original post have also made a significant trade deal with the major EU country. Germany is on it's arse and it's nothing to do with a Starmer 'reset', they certainly aren't investing in post Brexit UK for the good of the UK..... The big Brexit Prize promised was a Trade Deal with US which was never going to happen. I may dream of a night with Magot Robbie but it's equally unlikely. I'll repeat, the only advantage of CPTPP over what UK had within or outside EU is a Trade Agreement with Malaysia and Brunei. The previous Governments Financial Impact Assessment of joining CPTPP is an increase of 0.08% to GDP. Various assessments of leaving EU calculate the loss of 4%/5% of GDP UK hasn't signed a Trade Deal with Germany it's not possible, UK has signed a bilateral Defense Agreement with Germany which amongst other things Germany's largest Defence Contractor will build Artillery Barrels in UK for British Challenger Tanks something that hasn't happened in UK for more than 10 years. It would be surprising if a German Private Company wasn't motivated by a profit element. It would be equally surprising if UK Government would sign an Agreement that wasn't to its mutual advantage (except Brexit obviously) This Agreement wouldn't have happened under a Conservative Government. Both UK and Germany Economies are in stagnation for some common reasons and differing reasons. It remains to be seen which will recover more quickly. When Germany became a founding member of EEC UK and German GDP were about equal. German GDP is now about 30% larger than UK so I don't think you need to have any concerns for our German friends |
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Post by mrcoke on Oct 23, 2024 22:20:56 GMT
City of London chief ( Lord Mayor of the City of London, Michael Mainelli) says Brexit 'disaster' cost 40,000 finance jobsMichael Mainelli said Dublin had gained most, attracting 10,000 positions, while cities such as Milan, Paris and Amsterdam had also benefited from jobs migrating from London after Britain voted to quit the EU trading bloc in 2016. Economic output in the heart of Britain's financial sector, including banks and wealth funds, has fallen by more than 15% since late 2019, just before the UK formally left the EU. Overall, financial services output in Britain has fallen by 1% since late 2019 - a stark contrast with France and Germany, where it has increased by 8%, and Ireland's 18% growth, national account data shows. British financial services exports have been overtaken by other business services, such as law or advertising. Britain's official budget forecaster said in March that its prediction Brexit would cause trade volumes to shrink by 15% was "broadly on track". hr.economictimes.indiatimes.com/news/industry/city-of-london-chief-says-brexit-disaster-cost-40000-finance-jobs/114285203
Is there growth or decline since Brexit?
According to the City of London Factsheet issued February 2023 (Reference 1) : " City jobs are at a record high and have grown over 13% since pre-pandemic 2019 to 2022, with nearly 73,000 more jobs than in 2019." and "The City experienced a strong rebound from the pandemic. 29,000 jobs were added to the City between 2021 and 2022."
Reference 2 shows that there has been no reduction in the number of employees in the financial services sector in the UK from 2009 to 2021 TheCityUK issued a press release on 11 September 2024, based on data available as of 30 June 2024 regarding financial and related professional services stating "In the decade to 2022, the industry created 354,000 jobs across the UK, with employment growing at an annual average rate of 1.8%. More than half of these jobs were created outside London" (3) This suggests that London is not doing as well as other regions, notably the West Midlands and Northern Ireland that enjoyed the highest average industry employment growth rates of 3.7% and 3.5%, respectively, but neither does it suggest that employment in London's financial and related professional services is in any sort of distress, let alone crisis. Apart from the West Midlands and Northern Ireland, Leeds is the fastest growing city in the UK and, I quote, " Over the next ten years, the economy is forecast to grow by 21% with financial and business services set to generate over half of GVA growth over that period." (4) Banks
Banks are experiencing major change. The FT posted a headline last December " Banks shed 60,000 jobs in one of worst years for cuts since financial crisis " (5) This was a worldwide figure. According to a government report in September: " around 6,100 bank and building society branches have closed since January 2015 across the UK, or are due to close by the end of 2025" (6) This is not a UK or Brexit issue, it is worldwide: According to the FT, twenty of the world’s largest banks shed at least 61,905 jobs total in 2023. (7) According to Reuters, New York lost 23,300 financial services jobs in 2023. (8) The total number of individuals employed at banks across the EU member states dropped significantly during the period between 2008 and 2023, despite a slight increase in 2023. Overall, as of the end of 2023, there were approximately 1.77 million individuals working at banks across Europe, which 470,000 less than 2008. (9) At 13,000 jobs lost, Switzerland’s UBS led the downsizing in 2023 during its Credit Suisse takeover. This was followed by Wells Fargo (12,000 jobs lost), Citigroup (5,000), Morgan Stanley (4,800) and Bank of America (4,000). These reductions are driven by a number of factors across the financial world. The 2008 banking crisis, rationalisation, movement away from traditional banking to on-line, increased IT and other technology, and rationalisation following mergers and acquisitions. London Jobs Scene
There is another factor affecting London jobs scene which is many UK companies are moving head office jobs to other areas outside of London due to increasing costs of living and housing. (10) New York is experiencing a similar exit of jobs to other southern regions, including $1 trillion in assets. (11) Numerous large companies have moved jobs out of London and established offices in the North. Salford is now the base for a large part of operations for BBC, TalkTalk, ITV and M&S. (12) Barclays established a new campus in Tradeston in 2022. PwC has relocated to larger offices in Manchester. With the transfer of office jobs out of London for the North, there could be a slump in building or surplus of office space, but that is not the case. In fact more London office builds began in the summer of 2023 than at any comparable period in the past 18 years, (13) and there is a skyscraper building boom in London. (14) Impact of Brexit on FS Jobs in London
The Standard weighed in first in November 2015 with the headline "'Brexit' would lead to loss of 100,000 bank jobs, says City". (15) The Guardian engaged in "project fear" in April 2016 with the headline "Brexit could lead to loss of 100,000 financial services jobs". (16) Following the referendum many financial firms said they would be moving staff to Europe, but the actual peak reported in 2016 was 12,500 jobs. According to Ernst Young (17) this figure was revised down to 7,400 in December 2021, and down further to just over 7,000 by March 2022. Is that the final figure? I believe not because there has been movement in the opposite direction to London. Firstly a European Parliament report admits that the forecast of large numbers of jobs moving from London to the EU have been hopelessly wrong. (18) Thousands of financial services jobs have actually been created since Brexit and EU banks had relocated some of their operations to London to remain active in the UK market. In December 2023, Dutch company Bunq, the second-largest neo-bank in the EU announced its return to London. More than 1,400 EU-based financial firms have applied for permission to operate in Britain after Brexit. Over 1,000 of these plan to open their first UK office, according to research by financial regulatory consultancy Bovil. (19) It is quite clear Brexit has not been a "disaster" for London's financial services, but a readjustment of offices and jobs in both directions. Would the movement of Euro share trading moved out of London anyway?
Around 2010 a prominent French financier, whose name I cannot remember, left his employment with the EU to return to the French finance industry. He led a concerted campaign to move Euro share trading from London to the Euro zone. In 2011 the European Central Bank in Frankfurt tried to insist that all Euro trades were done inside the Eurozone. Financiers in Europe have tried for many years to wrest the lucrative Euro market from London on the grounds that London is not in the Euro zone. They failed until the UK left the EU, but it is quite likely that even if the UK had remained in the EU that they would have found a way to take this business from the UK market. However it appears that the EU has given up for the time being as the European Commission’s latest rule changes mean it may never be able to wrest control of the massive euro swap market from the UK (20) The Financial Services Scene in 2024, the 4th Year of Brexit.
The UK continues to increase its lead as Europe’s most attractive destination for financial services investment. (21) 2023 ended with significant financial services agreement with Switzerland. (22) Whilst the banking sector continues to decline, vacancies are increasing in other sectors despite an adverse impact due to the general election. (23) Two thirds of UK financial services leaders are more optimistic about the sector’s future growth and global standing under the new Labour government. (24) The industry is constantly redefining itself and has a huge potential with the focus on the worldwide market. London continues to be ranked second in the Global Financial Index for September this year and has in fact closed the rating gap with New York. But there is no room for complacency as other American and Far Eastern financial centres are closing up on London. (25) References1. www.cityoflondon.gov.uk/assets/Business/City-Stats-Factsheet-May-2024.pdf2. www.statista.com/statistics/298370/uk-financial-sector-total-financial-services-employment/ 3. www.thecityuk.com/news/new-research-shows-uk-financial-and-related-professional-services-are-key-drivers-of-jobs-and-growth-across-regions-and-nations/ 4. www.leeds.gov.uk/leeds-economy#:~:text=Leeds%20is%20the%20UK's%20fastest,a%20workforce%20of%201.37%20million 5. www.ft.com/content/cbc6e15d-3c63-49af-9f98-ef8f478431bd6. commonslibrary.parliament.uk/research-briefings/cbp-9453/#:~:text=Cash%20was%20used%20forttps://www.bankingdive.com/news/big-banks-cut-62000-jobs-2023-ubs-wells-citi-jpmorgan-stanley-goldman-metro-bofa/703396/%20only,by%20the%20end%20of%202025 7. www.bankingdive.com/news/big-banks-cut-62000-jobs-2023-ubs-wells-citi-jpmorgan-stanley-goldman-metro-bofa/703396/8. www.reuters.com/business/finance/wall-street-banks-shed-jobs-ease-cost-pressures-2023-09-15/9. www.statista.com/statistics/940990/number-of-bank-staff-in-europe/#:~:text=Overall%2C%20as%20of%20the%20end,working%20at%20banks%20across%20Europe 10. www.cityam.com/uk-firms-move-more-head-office-roles-outside-london-amid-soaring-costs/ 11. www.forbes.com/sites/jackkelly/2023/08/23/wall-street-is-going-south-and-taking-1-trillion-in-assets-with-it/ 12. salboy.com/2021/04/businesses-leaving-london/13. www.constructionnews.co.uk/buildings/london-office-building-rate-soars-after-pandemic-lull-21-11-2023/#:~:text=More%20London%20office%20builds%20began,to%20the%20end%20of%20September. 14. www.standard.co.uk/news/london/skyscrapers-skyline-city-of-london-99-bishopsgate-one-undershaft-b1147740.html 15. www.standard.co.uk/news/london/brexit-would-lead-to-loss-of-100-000-bank-jobs-says-city-a3124661.html16. www.theguardian.com/business/2016/apr/14/brexit-could-lead-to-loss-of-100000-financial-services-jobs-report-warns17. www.ey.com/en_uk/newsroom/2022/03/ey-financial-services-brexit-tracker-movement-within-uk-financial-services-sector-stabilises-five-years-on-from-article-50-trigger 18. brusselssignal.eu/2023/11/eu-admits-post-brexit-london-city-jobs-loss-forecast-was-way-off-the-mark/ 19. www.business4beginners.co.uk/uk-remain-financial-capital-after-brexit/ 20. www.fnlondon.com/articles/brussels-diluted-proposals-hand-london-a-victory-over-clearing-20240219 21. www.ey.com/en_gl/newsroom/2024/05/uk-accelerates-its-lead-as-europe-s-most-attractive-destination-for-financial-services-investment#:~:text=The%20UK%20recorded%2085%20new,highest%20level%20in%20a%20decade 22. www.gov.uk/government/publications/the-berne-financial-services-agreement 23. vacancysoft.com/london-uk-finance-labour-market-trends-report-august-2024/ 24. kpmg.com/uk/en/home/media/press-releases/2024/07/financial-services-leaders-see-brighter-future-for-sector-under-new-government.html25. en.m.wikipedia.org/wiki/Global_Financial_Centres_Index |
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