Quote:
Originally Posted by Mick Fisher
I guess Cameron&Co better get their wallets out and get 'LOBBYING HSBC' to stay in the Country.
Oh wait.......they ain't got no money have they.
Guess it'll be down to brown nosing then, they will be good at that. 
Seriously we have a policy of not giving in to Terrorist's demands so I don't see that this is any different.
A Company that has grown so big it can hold a Country to ransome should be broken up.
In the short term the loss of HSBC might be a shock. In the long term I think we will be better off without them if they don't want to play with OUR ball. |
HMG can't just 'break up' a business it doesn't own where there are no monopoly considerations. If it tried to can you imagine the likely implications for other major businesses, especially those which are largely foreign owned and therefore answerable to foreign shareholders? With all due respect I don't think UK PLC is sufficiently robust or productive to run the risk of a large scale exodus of business, especially when there are other countries not a million miles away who'd be more than willing to embrace them and their taxes whilst allowing them to carry on as usual.
Whether we'd be better off with or without the likes of HSBC is one argument but a more important one is what sort of message would HMG dictating to big business in such a manner send out to foreign investors in the UK? Like it or not, it's them we rely on not only for creating actual business but for buying our government's bonds and funding our debt so we're really in no position to dictate to them.
We can condemn the banks until the cows come home but if you check what your pension fund's invested in you'll almost certainly find banks like HSBC so their profitability, share value and dividend payments impact directly on your pension pot.