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After Brexit, More Than 100 Firms May Move To Ireland (mirror.co.uk)
An anonymous reader quotes The Daily Mirror:
Ireland has said it has received more than 100 inquiries from major firms looking to move from the UK because of Brexit. Martin Shanahan, the chief executive of the Industrial Development Agency, said the bulk of the interest came from banks and financial institutions based in the City of London. He told the Guardian newspaper that Dublin was looking to capitalize on Brexit by wooing firms with its low corporation tax rate and status as the only English speaking country in the EU after the UK leaves the trading bloc... A recent report by accountants PwC said up to 100,000 jobs in the UK financial services sector could be lost if the UK cannot strike a deal on passporting.
The New York Times also reports on the European Medicines Agency -- which oversees approval of drugs across Europe (like America's FDA) from London. The agency believes that relocating to a different country could mean losing up to half its employees, which would majorly impact the licensing and monitoring of prescription drugs for the entire European Union.
The New York Times also reports on the European Medicines Agency -- which oversees approval of drugs across Europe (like America's FDA) from London. The agency believes that relocating to a different country could mean losing up to half its employees, which would majorly impact the licensing and monitoring of prescription drugs for the entire European Union.
Else they just run to Ireland, or other low cost havens.
Brexit is just a nice excuse, they'd want to do this anyway.
Hey- you guys voted for Brexit. This is a consequence.
It's the free market. Allow it to sort things out. If you do not like the outcome- remember you voted for it.
Another consultant who stuck it out.
"We are the Priests, of the Temples of Syrinx..."
Now we know where these traitors stand and where they will be.
Traitors? Who?
The major firms fleeing an alarming, and possibly catastrophic, regulatory landscape in solo Britain? You're being silly. CEOs and entire boards of directors can and have been dismissed -- and even sued -- for not doing their due diligence by mitigating exactly that kind of factor. It's their job.
The employees of said firms? Again, you're being silly. A paycheque is a paycheque. If I had a high-paying job that was relocating, especially if it was just to the other side of the Irish Sea, and even more especially if I could keep my EU passport after doing so, you'd better believe following them would be a strong option. Staying, unemployed, in a country with an uncertain future, might not.
Would find it just as likely they are using Brexit as a convenient more acceptable excuse as "we are moving to a tax haven, thanks" doesn't go down well at the moment.
Coming year, France too could pull a Frexit (or whatever the French translation of that is), should Marine Le Pen win.
That you should not try to force people into what you want.
Brexit, Trump, the shit will keep happening over and over and over again until you learn how to talk to people like adults.
What are you even babbling about. Like Britain was some kind of financial wasteland until the EU formed and saved everyone?
Only the State obtains its revenue by coercion. - Murray Rothbard
"Alarming and catastrophic." And here I thought Microsoft was good at FUD. They have nothing on Liberals. Oppose any of their policies and the consequences are ALWAYS world-destroying. Even this article is a fucking joke. 100 people make an inquiry. The article assumes the worst case scenario: every single one of them will leave, and Britain won't do anything to convince them to stay.
Failing economy? Are you completely fucking retarded? The UK is doing better than most other economies in Europe even with Brexit priced in. And when it comes to broadband, something you seem to have a pea in your knickers about, I live in a small town and I've got BT Infinity. Yea - it's rolled out to most cities and towns in the UK these days. 1mb connections are mostly in rural areas.
Stop writing. You seem to know precisely FUCK ALL about the UK.
If this is fake news then you should sell any shares and investments that you have in any companies based in the UK. Because any of them who are not looking to mitigate the impacts changes in trade barriers will have on their business would be completely stupid.
Heck I would go further to say if there was a piece that said no company was looking at leaving that it would be "fake news".
companies that really don't get Brexit
Trade conditions are going to change, companies look to mitigate. What's not to get?
status as the only English speaking country in the EU after the UK leaves the trading bloc...
The Netherlands, Luxembourg, and basically half of Europe under the age of 30 would take issue with this statement. And I'll be damned if the Dutch aren't easier to understand than the Irish when speaking English ... or even when speaking Dutch.
A company I work with is considering moving their manufacturing to China. At the moment they build products in the UK, but if tariffs come in then they might just as well build them in China where the labour is cheaper and pay those tariffs.
I'd love to know what deal the government did with Nissan. You can be sure that commitment will be big liability in any negotiations, as failure to get a good deal for them will presumably result in indefinite, unlimited financial support. Plus they need European charging networks to come to the UK if they want to meet their promise on supporting electric vehicles.
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
What do you want them to convince to stay, if they lose the european banking license by staying in Britain?
It is absolutely amazing in which reality disortion field the Brexit fans live. Half the world to trade with my ass. Getting full access to the european market without following its rules, good luck with that, ask Norway how that worked out.
Heck even India refuses to trade with the UK without getting full access to the uk labor market.
If you are lucky Scotland will stay with the UK, if you have bad luck you guys will end up as little britain.
Sorry that is the harsh reality.
If. Maybe. Perhaps.
None of it has happened. None of what was predicted to happen has happened. The triggering of the article to leave hasn't happened. The negotiations haven't happened. The ratification of the negotiations haven't happened...
Pointless.
Its very easy to sit in the cheap seats and parrot what this around you are saying. I guess you can feel smart and "with it" by doing so, but frankly its been wearing thin. So, I would love it if you take a moment and show off this maturity that you claim you have.
1. Trump provided position papers on immigration reform, the second amendment, supreme court nominations, veterans affairs, economics, and more. Each of these is detailed. I doubt that you read them. Perhaps take a moment to do so. Try coming to your own conclusions about where you agree and disagree before going to google to find what you are supposed to think. This is what a mature person would do.
2. When you search for similar content from the Clinton side, you will find it much more sparse and less detailed. Like many people, you probably just felt she was "right" on the issues since she was a self proclaimed liberal. Perhaps note that "right on the issues" has a chance to very from person to person. In fact, many of her campaign speeches were contradictory, as if she was pandering more than selling a vision. Do you think it is wise or mature to support a candidate who is fluid on issues? Try to find her policy papers and compare them with the Trump ones.
3. Mature people make decisions and evaluations based upon logic and fact. An immature person makes important decisions on emotion. In fact, an increasingly popular political strategy is to simply call names to make an argument instead of outlining a case. This is very effective because it almost impossible to defend against emotional contructs. For example, you can call anyone racist. Once the label sticks, it is hard to counter even if it is untrue. You seem to have a very negative view of Trump. Perhaps you should prepare a list and right out why. Then, if you are mature, cross of any comment that is emotional or name calling. You might find that you are the victim of mass media manipulation.
For example, a mature response could be "I dislike Trumps stand on illegal immigration. I believe open borders are a good thing. People, like ideas, should be able to flow freely. I see no major issues resulting from assimilating large numbers of people into a country's culture. Such ideas of nation are antiquated and not worth profiting."
An immature response would be "Trump is a racist."
See the difference? In the first case, people can have an honest discussion, trade ideas back and forth, and sharpen their understanding of the world. The racist comment leads to now growth. No ideas. No solutions. I would even argue that those who continually use such tactics have something to hide. You may want to see what it is.
"Liberalism is a very noble idea, currently controlled by some very bad people. Be sure you do not get the two confused.
So the deficit is 25 billion. What is that as a percentage of total trade? I'm not sure if you're aware of this, but the EU has a larger - by a factor of 5 - economy then the UK.
So unless the our imports from the EU are 500% of our exports - they're not - any trade war is likely to hit the UK harder than the EU (there are no winners, just losers).
Unless of course you believe that the UK will get whatever it wants without any consequences, which is quite popular at the moment.
Those who voted Remain have a vision of the big international banks in the City fleeing the nation, that is the image they were sold by Project Fear. The reality is that less than 10% of London City trading requires us to be in the EU. More than 90% of it is UK domestic and non-EU trade. EU passporting could be maintained merely by having a satellite office in Dublin with a couple of dozen staff.
In the meantime the Dutch bank ING is actually moving staff INTO the City from Belgium in case Brexit stops it being able to trade in the UK.
I only please one person per day. Today is not your day. Tomorrow isn't looking good either. - Scott Adams
not wanting your children raped by welfare migrants,
Migrants from the EU are statistically less likely to be criminals, less likely to be claiming state benefits, and likely to be paying a higher tax rate. Now, if you're in a low-skilled job then you might have a convincing argument that you've suffered disproportionately from freedom of movement driving down wages.
not wanting to be controlled by distant unelected beauracrats
Which Bureaucrats are those? The European Commission employs around 30,000 civil servants. To put that in perspective, that's less than a tenth of the total number employed by the UK alone (and that's only counting ones employed centrally, not anyone employed by local governments). Or did you mean the European Parliament, elected via a party list system? You know, the one that Britain vetoed shifting power towards? Or the Council, composed of elected ministers from the member states? Or the Commission, comprised of one delegate for each country, nominated by their elected governments?
I am TheRaven on Soylent News
Actually that sounds like the kind of thing a plumber could fix.
== Jez ==
Do you miss Firefox? Try Pale Moon.
You're right, there is a lack of understanding. Some companies will benefit from Brexit, my employer for example and our neighbours. They export to the EU, so a weak pound is good. We earn off the back of used cars, so low new car sales are good for us because it means more prime are buying used.
We're not representative of the UK - the average income is about 3 times the UK median, and noone is below 150% of the median. So who cares if your fuel or holiday is 20% more expensive when you're earning a six figure salary. If it's ok for "me" it's ok for everyone, right...
Those companies leaving are more likely to suffer from Brexit so the move is understandable.
So it's pointless to tax employees, since they'll only demand more pay or be unable to work there at that salary and leave.
But employees pay taxes for the army, police, fire brigade and legal system, all of which, if employers shouldn't be paying taxes for, should be unavailable to those employers. Nope, copyright doesn't exist for Disney, only their employees. Nope, trademark doesn't exist for Nike, only their employees. Nope, contracts are unenforcable by your employer, only employees, because the courts and justice system enforce them. Roads go only to homes, not employees. No protection against arson, fire or theft, for the business places, only the homes of employees. No access to MPs by representatives of businesses, only by constituents and other taxpaying employees, representing themselves. No international trade deals brokered, because MPs arrange it and courts enforce them, so unavailable to corporations and unusable by the employees.
The South of England is doing OK. The UK, not so much.
10% of British banks maybe ...
All the European banks (BNPP, DB, SG, DB, ING ...) moved to London City based trading HQ during the 90s for tax reason because they could also free trade to EU from there.
Now they anticipate that within a 3 year, this "opportunity" will be gone. They've already prepared plans to withdraw from the city. You know that banks don't like incertainties, do you.
So earlier those bank moved their activities from Amsterdam, Brussel, Frankfurt or Paris to the City ... but thanks to brexit now they are on the go for a rellocation to some EU stable area.
As UK is moving to be a tax heaven, I anticipate that within a 5 year, UK will be on EU grey list that will only help to perform shadow banking activities but from which will not help to perform the core banking duties : thus, little money for UK's treasury & more money for the EU countries.
By the way, the rellocation of the EU financial&economic institutions in UK will be the first to kiss good buy. EBA will be the very first ...
I personally don't care of "project fear" or "rule britania". What I see is a stupid decision from an economic point of view for UK citizen, but a great decision for EU politics & economy on a middle term basis. Simply speaking, there has always been a gap between the continent and UK (think Yougoslavia, Irak War or even Syria ...). UK has prevented the creation of a EU international policy and of a unified intervention army to cool down hot spot that endanger our liberty. Now UK will have to solve their puzzle on their own : Beeing a US puppet, Divorce with Scotland, Tax haven or not, Royal Familly & al.
By the way, I do hope that in France the next president will tear appart the Touquet traitee and ask the UK gov to perform their duty. You want imigrants ? Go and handle them. I don't see why FR should take responsability of cleaning a neighbour's drain.
As a global consequence, I also anticipate that the idea of EU Federation will be put on the table and that there might be room for citizen acceptance after the current period of nationalism backdraft is gone.
From a bad thing always come good things.
The UK is doing better than most other economies in Europe even with Brexit priced in..
The pricing in of Brexit has just begun. That pricing in will continue for the next two years after art. 50 is triggered and it will continue for at least a decade after that. So far the Brexit process has proven to be so shambolic that it has had the effect of making people in other European countries take second look at the idea of staying in the EU which has led to significant improvements in EU approval ratings. The reason the UK is still doing fine is that you are still at the beginning of a long journey that has an uncertain destination and businesses don't like uncertainty. You can expect a whole bunch of businesses to just bail out rather than wait 10 years to find out exactly what the post Brexit world will look like, and then to have to wait another decade to find out if the Brexit experiment will pan out. The Brexit fun will only begin for real one or two years after art. 50 is triggered and after that Brexit will be a rollercoaster. If you want any indication of what that means Donald Trump's incoming trade secretary Wilbur Ross just called Brexit a "God-given opportunity” to steal business from the UK. That right there is a rational assessment of Brexit from an ice cold predatory capitalist. The sharks are in the water and they small blood.
The South is very dependent on financial services. Depending on how brexit goes a fair bit of that might be lost to Frankfurt or Paris.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
100 people make an inquiry. The article assumes the worst case scenario: every single one of them will leave, and Britain won't do anything to convince them to stay.
Your failure is one of imagination. The worst case scenario is that these 100 people represent thousands more, and what's more, since they're bothering to write a letter and not do absolutely nothing, there's a better-than-average chance that these people actually will leave.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
Just for you I'll explain.
Those financial firms (many of them US banks) cater to the EU rather than Britain. While Britain was in the EU it made sense to set up shop in London. Good place to live, they speak English over there, good timezone, good communications, adequate and halfway familiar legal environment, sufficient critical mass of a raft of supporting firms, relatively liberal trading rules (for Europe), their customers just a phone call or a 1-3 hour flight away, and zero complications doing business with anyone else in the EU. That's what the EU was designed for. Life was good.
Various other EU countries might have preferred the seat of all that financial service to be in their own country instead of London. Financial firms provide high quality jobs and have a high (taxable) turnover. Only they couldn't do shit about it. EU guarantees free exchange of services and the most influential players (US banks) happened to prefer London. Not in the last place because London and the UK really listened to industry demands (knowing full well what they stood to lose if they didn't). So London it was. End of story.
Enter Brexit.
Brexit means the UK leaves the EU and has to negotiate terms on which to continue trading. The most basic terms of free trade (WTO--level) ensure free movement of goods but NOT free movement of services. Which EU membership guarantees, only that's what Britain is ending. So Britain is very much the asking party here.
Anyone prepared to bet that other EU countries (like Ireland) will be eager to let Britain keep all that yummy taxable business? And those jobs? When they can simply negotiate away London-based firms' comfy access to the EU, grab the jobs and (part of) the revenue? Really?
Those financial firms sure aren't. The incoming US commerce secretary Wilbur Ross (see http://www.npr.org/sections/th... ) isn't (see http://www.mirror.co.uk/news/u... ). I wouldn't either.
People who bet that Britain will keep providing financial services to Europe surely aren't picking the best odds here.
You cannot have one without the other. Ideally corporations and human beings are a symbiotic relationship and not a parasitic one.
“Common sense is not so common.” — Voltaire
Awesome, so he'll pay himself a big and run it to bankruptcy?
Wow, sent an e-mail as suggested when clicking on "use classic" banner, and got a fast response that addressed my msg
And that's just the crimes we know about. Europe is happy to not only continue importing millions of barbaric criminals, they want to cover of the refugee crimes so the public doesn't know about it.
Police cover up rapes: http://thedailyjournalist.com/...
Swedish police have a special code to hide a Muslim immigrant attack: http://www.frontpagemag.com/po...
It's a question of what we are willing to give up. The EU has all the cards, so everything has to bargained for. Do we give up Gibraltar for access to the common market? Give up passporting to preserve Nissan's tariff free exports?
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC
I meant to reply to the same comment you did, not yours.
A country isn't a corporation, and running it like one is weird. Especially running it like he does.
Wow, sent an e-mail as suggested when clicking on "use classic" banner, and got a fast response that addressed my msg