Post-Brexit Thread

[Kursk]

Originally Posted by 1andrew1

Why else wait so long?

Because timing and preparation are crucial?

Originally Posted by Mick

Just look at what is happening and what could potentially happen once we leave.

Greece is set to need yet another Bailout, to what end does the EU, having to keep doing this? Of course it's other EU Countries which are not protected from the arrangement the UK had agreed on last year for Eurozone bailouts, thank god we did not join the Euro.

So such countries in the Eurozone, will be expected to foot the bill, rich nations expected to cough up all the time and help out AGAIN, this what I mean about ALL having to pay their fair share for membership and they, Greece, are not doing, and some just expect handout after handout and ride the gravy train, it cannot continue any more and in two years, we will be out of this unbalanced financial system, that is on track to implode on itself and people want to remain in this corrupted, weaved web of financial mess. No thanks.

I'd give up Mick. There are none so blind as those who will not see.

Leave it to "insurgents" Blair and Clegg to deliver the kiss of death to Remain .

Originally Posted by 1andrew1

I think it's now considered a purchase in the country of the purchase, at least for VAT purposes. And some of the US companies like Airbnb and LinkedIn now operate through European subsidiaries.

Makes sense. I guess it's harder if you're literally shipping goods to the country. I wonder if the European subsidiaries are the 'seller' of those products? I know most tech companies set up a European office to deal with it and one of the benefit of the single market is one-stop access to the entire European market.

[TheDaddy]

Good news, if that doesn't boost investor confidence I'd be surprised but then you have to wonder what their motives are behind the move

https://www.theguardian.com/business...-tax-structure

Originally Posted by TheDaddy

Good news, if that doesn't boost investor confidence I'd be surprised but then you have to wonder what their motives are behind the move

https://www.theguardian.com/business...-tax-structure

I'd say their motives are pretty clear.

The move comes 12 months after Brussels competition officials announced a state aid inquiry into the fast-food chain’s arrangements in Luxembourg, where franchise and royalty fees from across Europe have been pooled for the past seven years.

The EU has been going after American multinationals like some kind of Spanish Inquisition for several years now. Brexit may make the UK an attractive place in which to place their tax affairs beyond its reach.

[1andrew1]

Originally Posted by Damien

Makes sense. I guess it's harder if you're literally shipping goods to the country. I wonder if the European subsidiaries are the 'seller' of those products? I know most tech companies set up a European office to deal with it and one of the benefit of the single market is one-stop access to the entire European market.

The European subsidiaries are the sellers. Apple in Ireland is a famous example. Another benefit for a European subsidiary has been that profits do not need to be repatriated to the USA which has higher rates of corporation tax. This may well change under the Trump administration though.

Our corporation tax is corporation friendly ,it's no real surprise that companies wish to move away from countries that want to take more and more from them in ant attempt to make up budget deficits

[1andrew1]

Will be interesting to see how the UK and EU approach this. It will be in the interests of both to go along with something like this on economic grounds. But May might put party unity ahead of tax revenues and jobs and the EU may play hardball if it doesn't see the downside.

British banks in call for five-year Brexit buffer
"The UK’s financial institutions, who trade on the Continent under EU passporting rules, are calling for the current set-up to stay in place in a transitional deal lasting between three and five years in a confidential document submitted to the Treasury."
Without an interim arrangement, it claims some banks may not be able to move parts of their operations out of Britain or set up new British subsidiaries in time, threatening an abrupt halt to EU business.*
“Transitional arrangements are likely essential,” the document says. “This is important in order to avoid potential damage to the ‘real economy’ that is reliant upon uninterrupted access to financial services.”
http://www.standard.co.uk/business/b...-a3416461.html

[pip08456]

Typical obfuscation from remainers.

Banks already have a 2 1/2 yr transition period. Invoking A50 will not happen before May 2017. There will then be 2yrs negotiation so that gives them 4 1/2 yrs. After the negotionations have concluded we don't as yet know how long it will be before we are finally rid of the corrupt set-up.

[TheDaddy]

Originally Posted by pip08456

After the negotionations have concluded we don't as yet know how long it will be before we are finally rid of the corrupt set-up.

You talking about the EU or the banking racket or possibly both

[1andrew1]

Originally Posted by pip08456

Typical obfuscation from remainers.

Banks already have a 2 1/2 yr transition period. Invoking A50 will not happen before May 2017. There will then be 2yrs negotiation so that gives them 4 1/2 yrs. After the negotionations have concluded we don't as yet know how long it will be before we are finally rid of the corrupt set-up.

I regret I have to disagree with your numbers. Firstly, Theresa May has indicated she's still on target to invoke Article 50 by the end of March 2017. The two-year countdown starts then. There is no extra 2.5 years on top of this.

At some stage between March 2017 and the end of negotiations, the banks will have a clearer understanding of the UK's future relationship with the EU. If this was one year into the negotiations, then the banks would only have one year to adjust. They're obviously being as proactive as they can now by speaking to other cities like Frankfurt and Paris but it makes sense for them to have more time to adjust to the new environment so as not to disrupt the industries they support and to make it easier on the many support staff who stand to lose their jobs as they are unlikely to move to the Continent.

[Pierre]

London is major global financial centre linked to another Global financial centre, New York, directly by several trans-Atlantic fibre cables.

Latency across this link is a major issue, and one which drove the installation of new cable a couple of years ago. there is in excess of £9 billion worth of financial transactions of all kinds done every day between these to centres.

IF you move to Frankfurt, Paris, or mostly anywhere on continental Europe you are extending the distance to New York and therefore putting yourself at a disadvantage.

THe only way there would be a mass exodus of financial companies out of London is if everybody did it at the same time, and then there would be the speculators that would stay.

Chances are you will see the rise of a European financial hub, probably Frankfurt, that will be the main trader with London and other Global Hubs but London will remain as a "Global" financial hub.

[1andrew1]

Originally Posted by Pierre

London is major global financial centre linked to another Global financial centre, New York, directly by several trans-Atlantic fibre cables.

Latency across this link is a major issue, and one which drove the installation of new cable a couple of years ago. there is in excess of £9 billion worth of financial transactions of all kinds done every day between these to centres.

IF you move to Frankfurt, Paris, or mostly anywhere on continental Europe you are extending the distance to New York and therefore putting yourself at a disadvantage.

THe only way there would be a mass exodus of financial companies out of London is if everybody did it at the same time, and then there would be the speculators that would stay.

Chances are you will see the rise of a European financial hub, probably Frankfurt, that will be the main trader with London and other Global Hubs but London will remain as a "Global" financial hub.

Yes. As always, the question is how much of the City will move to Europe and how much will stay behind. Over time, infrastructure such as that which you list can be replicated by other countries but the legal factors and cultural ones which the UK has may be harder for those countries to get close to.

[Kursk]

Originally Posted by 1andrew1

Yes. As always, the question is how much of the City will move to Europe and how much will stay behind. Over time, infrastructure such as that which you list can be replicated by other countries but the legal factors and cultural ones which the UK has may be harder for those countries to get close to.

Gawd, how many more pages and pages of reassurance do you need? Everything is going to be alright. Really. Honestly. We wouldn't lie to you. We are red, white and blue all the way through.

Have a lay down in a darkened room for a couple of years and when you come out all the big worrisome problems will be sorted out. Ok?

[papa smurf]

Originally Posted by Kursk

Gawd, how many more pages and pages of reassurance do you need? Everything is going to be alright. Really. Honestly. We wouldn't lie to you. We are red, white and blue all the way through.

Have a lay down in a darkened room for a couple of years and when you come out all the big worrisome problems will be sorted out. Ok?

its post brexiaworrywartia syndrome -he just needs to eat something British once a day

[Kursk]

Originally Posted by papa smurf

its post brexiaworrywartia syndrome -he just needs to eat something British once a day

He's already had to eat quite a bit of humble pie