London post-brexit as a financial center

d08 said:
Do you have any proof that they are a net economic drain on the economy? All those thousands of unemployed are certainly going to be a real tax benefit.
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There exist hundreds of thousands of businesses in the UK that don't need a political or economic link between the EU and the UK to prosper.

If there are businesses such as the car industry that requires such links, then too bad. I cannot see how it is fair for my taxes to be paid to the EU so that the UK car industry can exist. In essence they are being subsidised at my and other taxpayers' expense.
 
Visaria said:
There exist hundreds of thousands of businesses in the UK that don't need a political or economic link between the EU and the UK to prosper.

If there are businesses such as the car industry that requires such links, then too bad. I cannot see how it is fair for my taxes to be paid to the EU so that the UK car industry can exist. In essence they are being subsidised at my and other taxpayers' expense.
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While I appreciate your sentiment and agree regarding tax breaks, the economic reality is still there. Those jobs will go and the tax revenue from those wages is gone. To expect that these people can be employed again quickly is naive.
 
Visaria said:
Honda does not sell that many cars here compared to other manufacturers. Its biggest market is the US.

After Brexit, we can choose whether or not to impose tariffs. The best policy, imo, would be the unilateral free trade i.e. no tariffs and no restrictions on our side. The EU of course will not like this. The UK is the largest export market for the EU-27. They would have to compete in this market with every other country in the world. Quite simply they could be priced out for much of their products.
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So, as a result UK lost tax revenue with the Honda job losses, will get no import taxes if there's an agreement. That's a losing situation. But yes, German manufacturers lose here too.

Where would these cheap competitive products come from? Having access to products all over the world, I've quickly realized that EU products (including UK) are very competitive and the quality is very high compared to most other countries. It's not like there's an equal but cheaper product available typically.
 
I would say that cars from Asian manufacturers are somewhat cheaper and perhaps superior than German cars. I drive a German manufactured car, but tbh, it's more for the status/image/dream thing than for anything else.

In terms of food, at present, imports from outside the EU carry hefty tariffs. So after Brexit, imports (from say Africa, US, etc) would be cheaper to the tune of perhaps 20-30%. Would there be a fall in quality? Yes, possibly. But the consumer would be able to choose whether to buy higher quality food from the EU at a premium or cheaper non EU food which is still safe to eat.
d08 said:
Where would these cheap competitive products come from? Having access to products all over the world, I've quickly realized that EU products (including UK) are very competitive and the quality is very high compared to most other countries. It's not like there's an equal but cheaper product available typically.
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d08 said:
While I appreciate your sentiment and agree regarding tax breaks, the economic reality is still there. Those jobs will go and the tax revenue from those wages is gone. To expect that these people can be employed again quickly is naive.
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Yes, you are right. But from a self interest point of view, it's not a concern. If i lose money in trading, I don't think car workers are going to lose any sleep over it.
 
Visaria said:
I would say that cars from Asian manufacturers are somewhat cheaper and perhaps superior than German cars. I drive a German manufactured car, but tbh, it's more for the status/image/dream thing than for anything else.

In terms of food, at present, imports from outside the EU carry hefty tariffs. So after Brexit, imports (from say Africa, US, etc) would be cheaper to the tune of perhaps 20-30%. Would there be a fall in quality? Yes, possibly. But the consumer would be able to choose whether to buy higher quality food from the EU at a premium or cheaper non EU food which is still safe to eat.
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I'm somewhere where western imports are taxed equally. US products cost the same or more compared to EU products. Transport costs have to be factored in and it's still cheaper to move goods from France to UK than from California to UK.
I believe in the UK EU products will cost more but they will still be more competitive than non-European ones.

When it comes to cars, yes, I drive Korean (in Asia German cars are proper luxury, unlike in Europe) and I don't see myself owning an European branded car any time soon.
 
Visaria said:
Yes, you are right. But from a self interest point of view, it's not a concern. If i lose money in trading, I don't think car workers are going to lose any sleep over it.
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Actually that's just such a fundamental aspect of economics that I don't know how you couldn't grasp it. If you make money you buy stuff. If you don't, you can't. Therefore the people who make stuff very much care if you make money or not. Maybe not you, specifically, but certainly the people in their market writ large.

Again that nihilistic and narcissistic view of the world (Fuck everyone else, as long as I can make money who cares) works great if you want to live in a mansion in a shithole surrounded by guards. But no need to turn the UK into that, plenty of third world places you could do that tomorrow, in fact there's even an English speaking former crown colony down at the southern tip of Africa you could go to for that right now, no need to wait!
 
schweiz said:
Full chaos in the UK. I don't know if it is hilarious or pathetic.

The new Independent Group of MPs has already won the support of 14% of voters, a new YouGov poll has revealed.

https://news.yahoo.com/new-independ...g=Z-f1Fbe711bmzMEhSR4wiAHpSF-s4x5FWQ-59m7BBD8
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https://www.strategic-culture.org/news/2018/08/07/brexit-will-eu-collapse-anyway.html

A very British charade. Please read the above link, it's a fair assessment of the EU in general. I believe there's a popular misconception on the issue of Brexit, the likes of The Guardian are not in this fight to save Britain, that's the least of their concerns.
 
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