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lse:lloy

#983

As ever @red_rose_wizz… you ignore the reality.

  • Some companies are unaffected by Brexit, some aren’t… but none benefit from Brexit.
  • Some companies will pay the same tax to HMRC as before Brexit, some will now be paying less to the HMRC and more to a foreign EU state… but the HMRC will collect less from affected companies because of Brexit.

Brexit is making the UK worse off… the UK taxpayer will have to pay more to HMRC to cover the shortfall.


#984

One and the same @fynne

They have offices all over the world. That observation is rather irrelevant though.

We are talking here about impact of Brexit down to the loss of financial passporting… that is a legal consequence of Leaving the EU.
ie. financial firms operating from the UK will lose their ability sell their services to their EU clients.

They instead will use EU state legal entities rather than UK entities… and move operations, trade flows, cash flows through those entities. They are all doing it and going Live with these at points between Feb and end of March.
For most of these, it also means a drop in the tax that was being collected in the UK… whether it be Bank of America, UBS, JP Morgan… whoever.


#985

Oh and @fynne… the estimated loss in revenue to HMRC… a mere £5bn… every year!

And the above is not including the loss in personal tax to the HMRC from those migrating to EU states to continue their role. Not many. But within each company there’s either a few hundred roles moving… or a few thousand.

Guess who’s going to be paying the shortfall to the HMRC in the years following when we Leave the EU…


#986

anyone know what happening to Euro clearing business done London and £700Bill a DAY…

Got This massive loss to the UK…Dec 10 2018
PARIS/LONDON (Reuters) - Societe Generale (SOGN.PA) is opening a Paris hub this month to clear derivatives in the European Union in the latest sign of euro business moving from Britain to the bloc ahead of Brexit.


#987

Everyday…

…we get more warnings of the damage that would be caused by a hard Brexit. Brexiters tell us that we will be fine under WTO rules. It might not be that simple as this article explains:

It is time for parliament to come to its senses and agree a second referendum as the best way of avoiding disaster.

Cheers,

Frog in a tree


#988

Defence staff lined up in front of their benighted minister.

Defence Minister (DM): Right, you lot, we need people to fight ‘them’ in the shopping aisles & outside the dole offices. So I want volunteers…everybody who wishes to volunteer take one step forward.
Staff: (Nobody budges 1mm)
DM: Well, I’m truly touched…thank you all for volunteering.
Staff: (communal thought) Not again :face_with_monocle:


#989

Everyday…

…after Brexit you could be eating US chemically adulterated meat.

We need to realise that if our food regulations are relaxed to satisfy US producers, then it will not only be imported US beef, lamb and chicken that will be adulterated with hormones and anti-biotics but there will be no bar on UK following suit in order to remain competitive.

…brought to your plate by Johnson, Farage, Rees-Mogg and followers including our friends Huw, Fynne, JAR and all those that voted Leave.

It may encourage many more to become vegetarians!

Frog in a tree


#990

Good to see Project Fear have learnt nothing in the last 2 years, Elites final push before they roll over and face up to losing, Ronald MacDonald has spent the last few years telling us about locally sourced produce… you couldn’t make this stuff up.
Face up…Its almost over :wink:


#991

Have we got chlorinated chicken to look forward to. Finger licking good…

image


#992

It will be the same old trick.
Spread stories in Media that EU standards were barmy and costly to the consumer… then when the US Trade Deal is negotiated (if one is needed) any standards that UK had (that the UK actively worked on and installed with the EU over years) will be rolled over to accept the US goods… in this case meat.

Yep… don’t eat meat Froglet… or Dairy produce.


#993

Everyday…

…we hear of business despair at the chaos being caused by the Brexit process. The CBI have renewed their warnings. What are they to do now that the party of business has cut them loose to fend for themselves:

Frog in a tree


#994

Today…
A High Court judge has ruled that Barclays can shift assets worth €190bn to its Irish division as it “cannot wait any longer” amid continuing political uncertainty.


#995

Everyday…

…more news of Brexit caused damage to our economy. Today the Society of Motor Manufacturers and Traders tell us that inward investment dropped by 46.5% in 2018.

http://www.bbc.co.uk/news/business/market-data

They say the impact so far on output, investment and jobs “is nothing compared with the permanent devastation caused by severing our frictionless trade links overnight, not just with the EU but with the many other global markets with which we currently trade freely”.

Frog in a tree


#996

Slowly the Benefits of Leaving the EU are filtering down and will help us youngsters one day purchase a property.

UK house prices grew at the slowest annual rate for nearly six years in January, according to the Nationwide.

The lender said price growth “almost ground to a complete halt”, with prices up by just 0.1% from a year earlier, down from a rate of 0.5% in December.


#997

Cant really argue with the figures…Italy are in recession, Funny how the EU groupies do not post links regarding the failing EU project ? Will be plenty more jumping ship.

Italy’s economy tipped into recession at the end of last year, according to latest figures.

In the final three months of 2018, the economy shrank by 0.2%, following a 0.1% decline in the third quarter, the Istat statistics office said.

Italian Prime Minister Giuseppe Conte said the contraction was likely to continue into 2019.

Meanwhile, figures from the EU showed economic growth in the 19-country eurozone still languishing.

Growth in the euro area remained at 0.2% in the final quarter of 2018, the same as the previous quarter and in line with analysts’ expectations.

Italy’s coalition government was forced to revise its expansionary 2019 budget last month after the European Commission raised concerns about the impact on Italy’s debt levels.


#998

Yep @broadmoor1 … usual story from you…

EU… Bad
UK… Good


#999

No, not that simplistic… I know you’d like it to be?

The point being that some of you spout how good things are being part of the EU?
The reality is not all 28 countries are doing so well.
Some countries have never fully recovered from 2009!

But let’s not worry about that as it’s clearly their fault?


#1000

So it’s the EU’s fault that Italy is in recession.
So it’s the EU’s ‘fault’ that the UK is doing OK (in comparison to Italy) :face_with_monocle:

Unfortunately when we Brexit we wont have the EU to blame for…well, for everything!

Plus, could it be that the reason the UK is doing ‘OK’ is because WE ARE STILL IN THE EU :face_with_monocle:


#1001

… Time to go … remain groupies are on the attack :hear_no_evil:


#1002

… but thankfully not in the Euro :face_with_hand_over_mouth: