UK Finance......

[noseall]

...getting cold feet.

As predicted in an earlier thread.....https://www.diynot.com/diy/threads/register-to-vote.488937/page-5#post-3993478

 

[Roger928]

Good riddance. What we need is manufacturing not those parasites.
They racked up losses of £58 billion and let the tax payer foot the bill.

 

[HawkEye244]

I would have to agree with Roger, what real value does the financial sector provide to society? It doesn't actually 'produce' anything.

 

[JohnD]

in the same way that a delivery truck or a cargo ship doesn't produce anything.

 

[noseall]

Could the UK afford to lose the financial sector contribution? I'm not a fan but could the UK take the hit? However, the post was more about the exodus from these shores in the wake of the failing Brexit scenario. This will inevitably lead to manufacturers etc looking elsewhere at a time when the UK is looking at its most vulnerable.

 

[noseall]

They racked up losses of £58 billion and let the tax payer foot the bill.

Did the bailout work? Have they paid it back. What is the net result Rog?

 

[JohnD]

Could the UK afford to lose the financial sector contribution?

the financial services industry contributes more to the UK economy than the whole of the manufacturing sector.

So losing x% of it would hit us harder than losing x% of our factories.

Obviously, we are expecting that resigning from the EU will cost us a wedge of both. Nobody knows yet how much. The Brexiteers don't care. Anyone with the interests of the country at heart must care, and must know how much before making a decision to resign.

 

[noseall]

I would have to agree with Roger, what real value does the financial sector provide to society?

Society? Not sure. I'm pretty sure they are a net contributor and not a drain on the economy. I think they made amends for the 2008 fiasco.

I'm no fan of these b'stards, but it's got to be better to have them on board than not.

 

[HawkEye244]

Society? Not sure. I'm pretty sure they are a net contributor and not a drain on the economy. I think they made amends for the 2008 fiasco.

I'm no fan of these b'stards, but it's got to be better to have them on board than not.

Where are they going to go anyway? Africa ? That one always makes me laugh. Europe is in complete turmoil, where are they going to go?

 

[noseall]

Where are they going to go anyway?

Anywhere but the UK. Paris, Amsterdam and Frankfurt apparently.

Europe is in complete turmoil

Europe is on the way up and will be giving us a wave.

 

[EFLImpudence]

I see that the supposed plan to oust May AND the troubles in Spain are both bad for the pound.

 

[transam]

They could relocate to Catalonia



Or perhaps Junker will organise some tax break for them via his contacts in Luxembourg

 

[Roger928]

the financial services industry contributes more to the UK economy than the whole of the manufacturing sector.

Nope.
Manufacturing accounts for about 12% of the UK economy. Financial services 9%.
http://www.telegraph.co.uk/finance/...er-than-you-think-and-its-likely-to-grow.html

 

[noseall]

. Financial services 9%

Would you still be happy losing 9% Rog?

 

[transam]

Well considering Corbyn is a Brexiteer

what will he do then ??