Brexit Phase Two - Trade

He has now had both a Tax rebate, and a repayment of the Student Loan repayments; again, they are considered by Govt as a tax rather than debt.
Every time I've taken a loan I always considered it a debt. I still have a mortgage loan on my house (10 years to go); so rather than consider this a debt, should I consider this a bank tax?

I've heard and understood why Martin Lewis doesn't like it called student debt (he doesn't want working class kids being put off from going to university), but isn't it all a bit hair-splitting for the purposes of this post?
 
Nope, but I see cash and companies leeching out of the country.
Any company with shareholders will find it very difficult to pull out of the U.K. as was recently illustrated by a FTSE100 (I can’t remember which ones) that wanted to relocate it’s HQ to Europe (not Brexit related by the way).

To do that, any company will have to secure 75% shareholder approval, and with major institutions including pension funds generally being the big investors in FTSE200 and large AIM listed companies, it just AI t going to happen as the share price will collapse, so shareholders voting to let them pull out of the U.K. are basically turkeys at Christmas - they would be voting to collapse the value of their investment, and that just ain’t going to happen.

The other option would be to delist in the U.K. and re-list on another stock exchange - funnily enough a resolution of that nature would also require 75% of the shareholder vote, so that’s not happening either.

One of the reasons everyone likes London as a market is because it’s so well regulated, and the regulations are there to protect investors. Hat why we have Russian companies even wanting to list and raise capital at the London Stock Exchange.

Trying to pull out of the U.K. is a lot more complicated than people have been led to believe. Similar thresholds will exist listed companies in every trading centre in the global finance community.

Don’t believe everything you hear on the BBC or read in the Guardian.

On the cash front, the City of London remains awash with cash. There hasn’t been a flicker since th BREXIT vote. Most of the City voted for BREXIT, and it’s a Standing joke at every dinner I go to in London - the compare generally starts the after dinners with ‘don’t mention BREXIT’ then everyone laughs.
 
As ever, fair points. I am almost certainly in the other "never will" camp, despite some frustrations with the EU.

Just to follow up the "student debt" bit though (and off thread). Both my kids did Uni at £9k pa. My daughter has only just started paying back as her wage has met the threshold, and it isn't a lot. The Student loan didn't could against her ability to get a mortgage, as finance institutions don't look at it as debt.
My son had a great job at the start of last year, and was paid handsomely. Sadly after about 6 months he lost that, and went to a lower paid job. He has now had both a Tax rebate, and a repayment of the Student Loan repayments; again, they are considered by Govt as a tax rather than debt.
your kids are in debt. Deal with it.
 

Wordsmith

LE
Book Reviewer
How is he going to push the immigration issue ? Would that not make him a bit of a Judas? “If your names not down, your not coming in” unless you hold formal qualifications, then we’re happy to brain drain any intellectuals from any developing countries as long as it fits our needs.
Pretty much. I'm interested in Westminster taking actions that benefit UK PLC. If we import skilled professionals that are a net benefit to the UK while excluding unskilled workers that will claim more in benefits than they pay in taxes, that's entirely OK with me.

About time Westminster prioritised the UK's needs ahead of the EU - just like the French and German governments have been doing for years.

Wordsmith
 
On the cash front, the City of London remains awash with cash. There hasn’t been a flicker since th BREXIT vote. Most of the City voted for BREXIT, and it’s a Standing joke at every dinner I go to in London - the compare generally starts the after dinners with ‘don’t mention BREXIT’ then everyone laughs.
is that before @Brotherton Lad offers to carry out seppuku on behalf of the nation?
 

Wordsmith

LE
Book Reviewer
May might just find her bluff gets called.

Britain is willing to walk away without a deal, Theresa May warns EU leaders in Salzburg
Theresa May warned EU leaders on Wednesday night that they must reach agreement on Brexit by November or the UK will walk away without a deal.

Addressing the 27 other member states for the first time since her Chequers plan was revealed, the Prime Minister said there would be no delay to the Article 50 process and no second referendum. Speaking in Salzburg, Mrs May insisted that “delaying or extending these negotiations is not an option”, no matter how much leaders disliked her plan.
May might have carried more conviction had serious preparation been made for the possibility of a hard Brexit as soon as Article 50 been triggered. Instead, preparations started late and have not been comprehensive.

May needs major concession to get Chequers through parliament, and I suspect all the EU is going to offer is cosmetic ones.

Chequers deal will need to be 'reworked', says Donald Tusk ahead of key Brexit summit
Theresa May’s Chequers plan will need to “reworked” in key areas including on future trade relations and on the question of the Irish border, the president of the European Council has said.

Speaking ahead of an informal European Council meeting in Salzburg, Donald Tusk said Brexit talks were now entering “a decisive phase” - and that Mrs May's proposed deal already showed a "positive evolution of the UK's approach".
As such, I suspect the last minute fudge that will be cobbled together will promptly get rejected by Westminster.
  • Substantial numbers of Tory MP's will abstain.
  • The opposition parties will unite to force a major defeat on May in an attempt to get her to resign. They will then call for a GE to try and force the Tories out of office.
The parliamentary arithmetic is very heavily stacked against May and the EU has shown no signs of recognizing May's problems - preferring to try and get her to buckle under the strain and sign away the UK's sovereignty.

Wordsmith
 
May might just find her bluff gets called.

Britain is willing to walk away without a deal, Theresa May warns EU leaders in Salzburg


May might have carried more conviction had serious preparation been made for the possibility of a hard Brexit as soon as Article 50 been triggered. Instead, preparations started late and have not been comprehensive.

May needs major concession to get Chequers through parliament, and I suspect all the EU is going to offer is cosmetic ones.

Chequers deal will need to be 'reworked', says Donald Tusk ahead of key Brexit summit


As such, I suspect the last minute fudge that will be cobbled together will promptly get rejected by Westminster.
  • Substantial numbers of Tory MP's will abstain.
  • The opposition parties will unite to force a major defeat on May in an attempt to get her to resign. They will then call for a GE to try and force the Tories out of office.
The parliamentary arithmetic is very heavily stacked against May and the EU has shown no signs of recognizing May's problems - preferring to try and get her to buckle under the strain and sign away the UK's sovereignty.

Wordsmith
Of course we won't be signing away our sovereignty if we withdraw A50, just remaining under the status quo of the last 40 years. Then set up a government dept specifically to produce a plan. Surely even if it takes 10 years, a properly planned withdrawal is better than dropping into an abyss that even the proponents agree is costly, and opponents think is worse than that.
 
Every time I've taken a loan I always considered it a debt. I still have a mortgage loan on my house (10 years to go); so rather than consider this a debt, should I consider this a bank tax?

I've heard and understood why Martin Lewis doesn't like it called student debt (he doesn't want working class kids being put off from going to university), but isn't it all a bit hair-splitting for the purposes of this post?
No. A mortgage is a debt. A student loan isn't. Certainly not hair splitting. Would your bank return your mortgage payments for last year if your pay was less than you had expected? No. I know it's counterintuitive as it's called a loan, but that's the fact.
 
That's you, that is.

Wordsmith
Said the man who uses ignore to hide from the bad men but admits to peeking out from behind the couch.
 
But didn’t the remain campaign say that Ryan Air would be cutting back after brexit?
No, they said that they'd keep operating by moving stuff to the EU if needed.
 

Wordsmith

LE
Book Reviewer
Of course we won't be signing away our sovereignty if we withdraw A50, just remaining under the status quo of the last 40 years. Then set up a government dept specifically to produce a plan. Surely even if it takes 10 years, a properly planned withdrawal is better than dropping into an abyss that even the proponents agree is costly, and opponents think is worse than that.
You are ignoring the political firestorm that will result if May says to the country "we are withdrawing Article 50 and will not be leaving the EU for at least 10 years".

I can't think of a surer way for the Tories to lose the next election.

In addition, we are unlikely to drop into an abyss on leaving. You need to make a realistic analysis of what will happen after Brexit, not take the more hysterical pronouncements from remain supporting politicians, businessmen and newspapers as gospel.

Wordsmith
 
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