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Brexit - The Positives


Ozymandias

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On 1/30/2024 at 1:19 PM, godnodog said:

I have no idea what remainers are saying.

I don't live in the UK, thought I find the subject of Brexit interesting, personally I wish all the best for the UK.

So do I. Waspie Dwarf posts about space, other people like UFOs etc. I'm not biased in my posts- when articles about the positives appear I post them, too.

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1 hour ago, pellinore said:

So do I. Waspie Dwarf posts about space, other people like UFOs etc. I'm not biased in my posts- when articles about the positives appear I post them, too.

Ah I see you have started with your humour already today.

Go on then, please link us to the last positive post you made about Brexit.

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7 hours ago, Electric Scooter said:

Ah I see you have started with your humour already today.

Go on then, please link us to the last positive post you made about Brexit.

You first. Link me to the first positive about Brexit and I'll happily post it.

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1 minute ago, pellinore said:

You first. Link me to the first positive about Brexit and I'll happily post it.

Ah so you are pretending there aren`t many already written in this topic.

And again you have recently claimed you have no bias!

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46 minutes ago, Electric Scooter said:

Ah so you are pretending there aren`t many already written in this topic.

And again you have recently claimed you have no bias!

No, there are many positives: the Netherlands has become home to many UK export hubs; and Paris, New York and Amsterdam are benefiting from the migration of financial firms from London. Ireland ports are benefitting from firms avoiding the UK land bridge so ferries are going direct from Ireland to France. The end of the British steel industry will give a boost to European steel industry with their new furnaces.

But I don't want to post about positives to Europe generally, I want to post about positives to the UK.

Tell us one, and I'll post about it!

 

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1 hour ago, pellinore said:

Paris, New York and Amsterdam are benefiting from the migration of financial firms from London.

How many times do you need to be told pellinore, there is no "exodus" to Paris or Amsterdam, no matter how much you obviously desperately want there to be.

Annoyingly for you, London is ranked Number 2 on the latest 'Global Financial Centres Index' (GFCI), which was released on 28th September 2023, despite all the negative Remoaner predictions that it would lose the crown of being Europe's top financial centre after our democratically mandated exit from the European Union - (Strange how you conveniently NEVER seem to want to talk about that huge nugget of positive news eh pellinore, despite me telling you about it numerous times?). 🤔

The City of London's 2nd place position has not changed since the previous rankings were published in March 2023, whilst annoyingly for you Paris has dropped down 1 place to Number 15, and Amsterdam dropped 3 places to Number 19 over that same period. Ooops. 🤦 👇👇👇👇

https://www.longfinance.net/programmes/financial-centre-futures/global-financial-centres-index/gfci-34-explore-the-data/gfci-34-rank/

 

Also annoyingly for you, Dutch challenger Bank, Bunq, which is Europe’s second largest neobank, with a net profit of €53.1mn in 2023, is returning to the UK after a 3-year hiatus, but that's obviously not what you want to hear is it pellinore. 🤔

Ali Niknam, founder and CEO at Bunq, said of its return to the UK, quote: "As a bridge between Europe and the rest of the world, the UK is at the forefront of European fintech and a hugely important market for Bunq." (Strange how a Remoaner justification for being in the EU was the claim that the rest of the world saw the UK as being the gateway to the rest of Europe, but yet here we have an EU company stating that a non-EU UK is now a gateway to the rest of the world, so is this now a justification for not being in the EU then eh pellinore? 🤔) 👇👇👇👇

https://fintechmagazine.com/banking/neobank-bunq-return-to-uk

 

1 hour ago, pellinore said:

But I don't want to post about positives to Europe generally, I want to post about positives to the UK.

Tell us one, and I'll post about it!

There you go pellinore, I've just told you one, now finally be true to your word for once and post about it - if you dare.

Edited by Destination Unknown
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17 hours ago, Destination Unknown said:

How many times do you need to be told pellinore, there is no "exodus" to Paris or Amsterdam, no matter how much you obviously desperately want there to be.

There has been. more than 440 finance and banking companies have set up offices within the EU since Brexit, 135 of those in Dublin. No single financial centre in Europe can rival London on its own, but collectively they have taken away more than 10% of London's financial services business (or £900 billion of the City's banking assets), and that is before the EU has managed to get its ducks in a row i.e. the various European centres have been vying with each other instead of working together. 

The UK's continued access to EU financial services is not assured. A recent memorandum of understanding acknowledges the mutually dependent nature of the financial interdependence of the EU and the UK. The EU accounts for nearly 40% of the City's financial services exports, but the EU remains in the driving seat where the future of those exports is concerned as the UK must align with Brussel's regulatory rules to maintain any chance of equivalence going forward.   

17 hours ago, Destination Unknown said:

The City of London's 2nd place position has not changed since the previous rankings were published in March 2023, whilst annoyingly for you Paris has dropped down 1 place to Number 15, and Amsterdam dropped 3 places to Number 19 over that same period. 

Brexit did not happen in March last year. The fact is that since Brexit, the UK has lost its place as the No 1 international financial services centre in the world. It is now second behind New York. It has been experiencing what The Finacial Times called a 'slow puncture' as it falls behind and other centres gain ground. There is no doubt that its importance to Europe will continue to diminish with time. Whether aligned or not, it is not in Europe's interest to allow an external financial centre like London to have influence over its affairs.

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Taken from the City of London Annual Review:

image.png.f3958abe112e0f1661297605f276760e.png

There is not exodus away from Britain, in fact its gathering pace too Britain. Now stop lying you pro-EU members.

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31 minutes ago, Ozymandias said:

It has been experiencing what The Finacial Times called a 'slow puncture' as it falls behind and other centres gain ground. 

That's how economists are characterising the whole of Brexit. Lots of little things adding to the damage over time. Another small company has gone bust in the last few days, it supplied items for the UK, (something to do with decorative lamps) but now cannot get the parts it needs from the EU. Because some items are niche, and because the SM can simply and easily supply any other country, one country will be the manufacturing centre for one particular part. Prior to Brexit, the UK could just order them- now the supplier won't deliver because it is not worth the hassle. I know Brexiters are dismissive of small and medium business, preferring to talk grandly of "great trade deals" but they matter to the local economy, and cumulatively, the UK economy as a whole.

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2 hours ago, Ozymandias said:

Brexit did not happen in March last year. The fact is that since Brexit, the UK has lost its place as the No 1 international financial services centre in the world. It is now second behind New York

No it didn't, but the City of London has still retained its crown as Europe's top financial centre since Brexit happened, and the City of London was in 2nd place behind New York even whilst we were in the EU, so for those amongst us who haven't a clue what they're talking about as usual and are just determined to paint Brexit in a negative light no matter what, I'll rephrase my comment to include the following:

"The City of London's 2nd place position has not changed since the previous rankings were published in March 2023, September 2022, March 2022, September 2021, March 2021, September 2020, March 2020, September 2019, March 2019."

Is that better Ozy?

Is that worthy of a positive now in your eyes?

Clearing Houses in the City of London deal with the lions share of clearing business conducted across Europe every year, and the EU does not have the capacity to take on their part of that trading themselves, and they won't have any time soon either, and the EU knows it, which is why they have had to climb down and put provisions in place for the City to act as the EU's Clearing House until at least the end of June 2025. And this isn't to allow the City to operate in the EU, it's to allow the EU to continue to operate... Full Stop.... bet that really grinds your gears that a post-Brexit UK has the ability to shut down your beloved EU just like that if they start getting ideas above their station eh

Mainland Europe is a minor sideshow in the world's financial markets, and always will be.

"Banks have said they prefer using London because they can net positions across different currencies to save on capital, while Frankfurt largely focuses on just the euro." 👇👇👇👇

https://financialpost.com/pmn/business-pmn/eu-gives-itself-three-more-years-to-end-euro-clearing-reliance-on-london

Edited by Destination Unknown
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2 hours ago, pellinore said:

Another small company has gone bust in the last few days.

I know Brexiters are dismissive of small and medium business, preferring to talk grandly of "great trade deals" but they matter to the local economy, and cumulatively, the UK economy as a whole.

And how many small companies went bust when we were in the EU then eh pellinore? 🤔

An even better guide is the number of company formations. It is a fact that more companies are formed than dissolved each year, and it can be assumed that companies formed after 2016 and into the future will be less reliant on UK membership of the EU.

According to new data from Companies House, 436,000 new businesses were registered in the UK between January and June 2023.

That's 34,000 more new businesses set up in the first half of 2023 alone than the 402,000 in the same time period in 2022 (which was a record year for UK company formations by the way, when 805,141 companies were formed, which itself was also an increase on the previous record, set in 2020, when 780,766 companies were started).

So it is a fact that companies are forming and dissolving as they always have done, and always will do. New companies will always replace dissolved companies. As they do, they will be less reliant on UK membership of the EU.

In summary, it could be a fact that companies that failed to adapt to exiting the EU have indeed gone out of business, however, it can equally be assumed that companies formed after 2016 are more diverse. And in any case, the trend is up post-Brexit, not down.

https://uktechnews.co.uk/2023/09/15/436000-new-businesses-registered-in-the-first-half-of-2023/

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On 1/27/2024 at 1:26 PM, Electric Scooter said:

Things are fine here, there are some issues as with everywhere else at the moment with food prices, but that is because of sanctions on Russia not Brexit. Other than that we are doing fine.

How much food did you get from Russia?

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2 hours ago, Tatetopa said:

How much food did you get from Russia?

Prices for grain, fertilizer, vegetable oil, and fuels, are set based on global supply and demand.

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27 minutes ago, Electric Scooter said:

Prices for grain, fertilizer, vegetable oil, and fuels, are set based on global supply and demand.

Very true. We are all on the international trade roller coaster.   I am sure you know that Ukraine was one of the major exporters of grain and vegetable oil until the Russia invasion.

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2 hours ago, Tatetopa said:

Very true. We are all on the international trade roller coaster.   I am sure you know that Ukraine was one of the major exporters of grain and vegetable oil until the Russia invasion.

They both are, one is disrupted, the other is sanctioned.

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On 2/2/2024 at 10:31 PM, Electric Scooter said:

Ah so you are pretending there aren`t many already written in this topic.

And again you have recently claimed you have no bias!

This explains things:

 

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1 hour ago, pellinore said:

This explains things:

So does this pellinore: "French farmers up in arms over EU free-trade agreements" (obviously must be one of the positives of being in the EU then eh) 🤔👇👇👇👇

https://www.france24.com/en/france/20240131-unfair-competition-french-farmers-up-in-arms-over-eu-free-trade-agreements

Edited by Destination Unknown
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Perhaps it would help the discussion if we focused on the premise of the thread i.e. the positives of Brexit.

The questions here should really be:

  • How has Brexit benefited the country
  • How has Brexit improved the lives of ordinary people and in what way(s)

The emphasis should be on highlighting tangible, practical improvements/benefits - in what way has Brexit made our lives better/easier ?

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18 minutes ago, Saru said:

Perhaps it would help the discussion if we focused on the premise of the thread i.e. the positives of Brexit.

The questions here should really be:

  • How has Brexit benefited the country
  • How has Brexit improved the lives of ordinary people and in what way(s)

The emphasis should be on highlighting tangible, practical improvements/benefits - in what way has Brexit made our lives better/easier ?

British wages are rising fastest in low-paid sectors where employers previously relied on workers from the European Union

Jobs that once relied heavily on EU workers have seen advertised wages soar 11% in two years, as jobseeker interest has failed to keep pace with employers’ demand for staff in the sectors most exposed to Brexit, according to analysis by the world’s largest job site, Indeed.

That's obviously a benefit that has improved the lives of ordinary people, but I'm sure the usual suspects will be along shortly to claim that British workers getting paid more as a direct result of the UK's democratically mandated exit from the European Union is somehow not a benefit.

https://businessnewswales.com/wages-soar-by-11-in-brexit-exposed-sectors-data-finds/

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5 minutes ago, Destination Unknown said:

British wages are rising fastest in low-paid sectors where employers previously relied on workers from the European Union

That's a bit of a double-edged sword, though, as the reason for the pay increase is due to worker shortages.

It's certainly a benefit for those receiving the higher wages, but it may have negative consequences for those businesses/industries in the long run.

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12 minutes ago, Saru said:

That's a bit of a double-edged sword, though, as the reason for the pay increase is due to worker shortages.

It's certainly a benefit for those receiving the higher wages, but it may have negative consequences for those businesses/industries in the long run.

Fear not, because Brexit also has that covered too.

The UK is actually even more attractive to workers after the UK's democratically mandated exit from the European Union, owing to changes to the migration regime introduced after Brexit, because according to a report last year by the 'Organisation for Economic Co-operation and Development' (OECD), the UK has shot up an international ranking of countries that are most attractive to highly qualified workers.

The 'OECD' reported in March 2023 that the UK had risen up its "talent attractiveness" list faster than any other country since 2019, numbering in the Top 10.

Quote: "The international organization said the UK made the biggest improvement in "talent attractiveness" in 2023, moving up nine places to 7th since 2019, and climbing above the US and Canada for the first time."

https://biz.crast.net/brexit-freedoms-make-britain-a-magnet-for-highly-skilled-migrants-oecd-says/

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5 minutes ago, Destination Unknown said:

Fear not, because Brexit also has that covered too.

The worker shortages mentioned in the Business News Wales article you posted relate to low-paying (relatively low skilled) sectors.

This is due to, according to the article - "post-Brexit immigration rules ma[king] it harder for employers to plug gaps with foreign workers."

Quote

The 'OECD' reported in March 2023 that the UK had risen up its "talent attractiveness" list faster than any other country since 2019, numbering in the Top 10.

That's a promising sign, though the government is about to introduce new, stricter immigration rules that could have an impact on this:

https://www.itv.com/news/2024-01-30/what-are-the-new-uk-visa-immigration-rules-coming-into-effect-in-weeks

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28 minutes ago, Saru said:

That's a bit of a double-edged sword, though, as the reason for the pay increase is due to worker shortages.

It's certainly a benefit for those receiving the higher wages, but it may have negative consequences for those businesses/industries in the long run.

I really don`t think there are worker shortages.

Only businesses saying `we want to get away with paying people less so open the floodgates`.

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7 minutes ago, Saru said:

The worker shortages mentioned in the Business News Wales article you posted relate to low-paying (relatively low skilled) sectors.

This is due to, according to the article - "post-Brexit immigration rules ma[king] it harder for employers to plug gaps with foreign workers."

Yes, so low-paid British workers are now finally seeing their wages increase as a direct result of the UK's democratically mandated exit from the European Union, after seeing their wages stagnate for decades whilst we were in the EU due to employers relying on the never-ending supply of cheap labour from the continent.

 

7 minutes ago, Saru said:

That's a promising sign, though the government is about to introduce new, stricter immigration rules that could have an impact on this:

https://www.itv.com/news/2024-01-30/what-are-the-new-uk-visa-immigration-rules-coming-into-effect-in-weeks

See that's the beauty of it, we can tailor our immigration system to how we see fit.

Edited by Destination Unknown
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When you look at this man, well may you ask how far the Tories have fallen. There are no positives for Brexit. As Major says, it was a colossal mistake. 

 

 

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