OT. The futures Bright, the Futures Brexit!!!

[ramAnag]

It's statements like this that cause a lot of resentment, and probably account for some of the protest votes for Brexit. I don't agree with everything he is saying, but he isn't saying that.

Fair point Adi, but Tricky does bring things on himself sometimes...'Germany the bully of Europe', calling people 'collaborators' and telling them to 'stop squealing like a little bitch' etc. Not the most objective or constructive of comments to say the least.

[roger_ramjet]

But Germany is the bully of Europe - initially militarily and subsequently economically. Ask the Greeks - yes they were complicit in their own demise, but the German companies involved in the developments there (airport, trams etc) are still spending the profits.

[Andy_Faber]

Fair point Adi, but Tricky does bring things on himself sometimes...'Germany the bully of Europe', calling people 'collaborators' and telling them to 'stop squealing like a little bitch' etc. Not the most objective or constructive of comments to say the least.

Likewise, I'm afraid, does Swale calling someone a 'mind blowingly stupid xenophobe with as much a clue as a 2 year old'. I find both of their extremist views interesting and have learned a bit from them, but the name-calling is just a bit silly.

anyway, back to the OT, and a question for those who hold 'bankers' in low regard (easy at the front there guys, no pushing!). If the BBC-fuelled rumours are true, 'tens of thousands' of banking jobs will relocate from London to Paris/Berlin/other Johnny-foreigner outposts. On balance is that a price worth paying for Brexit?

[ramAnag]

Likewise, I'm afraid, does Swale calling someone a 'mind blowingly stupid xenophobe with as much a clue as a 2 year old'. I find both of their extremist views interesting and have learned a bit from them, but the name-calling is just a bit silly.

anyway, back to the OT, and a question for those who hold 'bankers' in low regard (easy at the front there guys, no pushing!). If the BBC-fuelled rumours are true, 'tens of thousands' of banking jobs will relocate from London to Paris/Berlin/other Johnny-foreigner outposts. On balance is that a price worth paying for Brexit?

At the risk of being called his 'rear gunner' again...I don't find Swale's views to be extreme. Outspoken, occasionally vitriolic and prone to fighting fire with a flame thrower perhaps, but his actual views are relatively moderate aren't they? Always puzzles me when you refer to him as 'Comrade Swale'...pretty mainstream slightly left of centre I'd have thought...far too proud of making his 'stash' in the current climate to be thought of as 'revolutionary'.

On the subject of bankers. My next door neighbours are London based bankers - they only use the house up here as their holiday 'retreat' which tells you something. Just been told that we won't be seeing them for a while as he's had a sudden 'posting' to set up the business in Dubai. My 'informer' suggested it was a sudden Brexit related move. Sign of the times perhaps?

[Andy_Faber]

At the risk of being called his 'rear gunner' again...I don't find Swale's views to be extreme. Outspoken, occasionally vitriolic and prone to fighting fire with a flame thrower perhaps, but his actual views are relatively moderate aren't they? Always puzzles me when you refer to him as 'Comrade Swale'...pretty mainstream slightly left of centre I'd have thought...far too proud of making his 'stash' in the current climate to be thought of as 'revolutionary'.

On the subject of bankers. My next door neighbours are London based bankers - they only use the house up here as their holiday 'retreat' which tells you something. Just been told that we won't be seeing them for a while as he's had a sudden 'posting' to set up the business in Dubai. My 'informer' suggested it was a sudden Brexit related move. Sign of the times perhaps?

Yes I'm probably a bit hard on Swale but hey ho, anyone who uses exclamation marks (especially doubles) as much as he does is fair game...and there's got to be a bit of fun poking and rise taking to lighten the bleak mood hasn't there? Now get back to that rear turret.

On the banking thing yes interesting anecdote but you didn't answer the more general question.

[ramAnag]

Yes I'm probably a bit hard on Swale but hey ho, anyone who uses exclamation marks (especially doubles) as much as he does is fair game...and there's got to be a bit of fun poking and rise taking to lighten the bleak mood hasn't there? Now get back to that rear turret.

It doesn't seem like a price worth paying to me but this is not my area. More of a question for Roger, but he's still marching over the cliff edge shouting abuse at the Germans.

[Andy_Faber]

It doesn't seem like a price worth paying to me but this is not my area. More of a question for Roger, but he's still marching over the cliff edge shouting abuse at the Germans.

I meant more on a 'social justice' basis, ie they only appear to make money out of money/less well off folk, are deemed to have no morals and to have got away with bankrupting the country etc etc

[ramAnag]

I meant more on a 'social justice' basis, ie they only appear to make money out of money/less well off folk, are deemed to have no morals and to have got away with bankrupting the country etc etc

As you'd probably expect, I agree with most of that sentiment (if you remove the word 'only'). I think the banks and certain leading bankers have got off very lightly since 2007/8 and I think their behaviour has been largely amoral if not actually immoral.
Having said that, a little perversely, I'm not certain that we can afford to 'lose' them in the way you suggest, but I'm sure those such as Roger, Manx, Swale and KCG could come up with a more informed answer.

[roger_ramjet]

It doesn't seem like a price worth paying to me but this is not my area. More of a question for Roger, but he's still marching over the cliff edge shouting abuse at the Germans.

The UK banking sector contributes about 5% of the total government tax take (30 billion or so) via irrecoverable VAT, employment taxes and NI and the bank levy. they also pay a bit of corporation tax but that's actually not the biggest tax they generate. They employ some 430,000 people.

A lot of those figures will be retail banking, but that probably is still making losses and is employing less and less people as branches and people disappear from the banking system. Love em or hate em the merchant banking sector brings in a **** ton of income to the UK, some of which is turned into direct taxes but much of which is paid over as employment taxes on the excessive basic pay and bonuses.

these guys have become hate figures, maybe rightly, but they contribute an awful lot to the funding of UK plc and their flight would harm the economy, even if it does give Andy a nice warm feeling. Overall the financial services sector generates almost 70 billion in tax and employs over a million people 3.5% of the UK work force. My bet is also that not too many of those people are EU migrant labour shipping net income back home!

[Andy_Faber]

The UK banking sector contributes about 5% of the total government tax take (30 billion or so) via irrecoverable VAT, employment taxes and NI and the bank levy. they also pay a bit of corporation tax but that's actually not the biggest tax they generate. They employ some 430,000 people.

A lot of those figures will be retail banking, but that probably is still making losses and is employing less and less people as branches and people disappear from the banking system. Love em or hate em the merchant banking sector brings in a **** ton of income to the UK, some of which is turned into direct taxes but much of which is paid over as employment taxes on the excessive basic pay and bonuses.

these guys have become hate figures, maybe rightly, but they contribute an awful lot to the funding of UK plc and their flight would harm the economy, even if it does give Andy a nice warm feeling. Overall the financial services sector generates almost 70 billion in tax and employs over a million people 3.5% of the UK work force. My bet is also that not too many of those people are EU migrant labour shipping net income back home!

Two thing in response.

No it doesn't give me a nice warm feeling, as people I don't know them and as you point out they contribute a bloody lot to the tax take, they might as well be immoral here as in France

You are right about there being few employees who were EU wallahs sending money home, my experience of such places is a bit out of date though and mostly US-based companies such as GATX