OT Cummings Press Statement

[mistaram]

Quite right Mista, and our financial services are the life blood of our invisible earnings stream. It may have been easy to get round the basic passporting aspects via subsidiaries still in the EU (eg Ireland, Cyprus, Luxemburg etc) as little more than paper homes, but that does not altogether get around the commercial problems that the EU can create. Solvency requirements are more or less consistent across the EU, but that does not mean that tariffs could not be applied to create competetive edges for EU financial service companies.

I find myself agreeing (for once in a long time) with rA that we cannot finalise an agreed detailed exit plan whilst the distraction of covid still hangs around taking (rightly) 100% of all countries' governmental focus. This leaves us with the chestnut of delay (in unprecedented conditions) or no deal exit once again looms. The whole process will take several years even after the magical day of 31-12 (and thats just sorting VAT out!) so is it really crucial to jump when unprepared?

Geoff I agree with all that But afraid most of the population don't understand how our economy is reliant on the finance sector I just hope we are bluffing about not going for an extension , because by the Autumn there is going to be really high levels of unemployment due to Covid . If we are to then walk out with a no deal we will be heading into a real depression and all the problems that causes to people at the bottom of the ladder

[Geoff Parkstone]

Geoff I agree with all that But afraid most of the population don't understand how our economy is reliant on the finance sector I just hope we are bluffing about not going for an extension , because by the Autumn there is going to be really high levels of unemployment due to Covid . If we are to then walk out with a no deal we will be heading into a real depression and all the problems that causes to people at the bottom of the ladder

When youve worked 40 years in international financial service sector, you get a bit of an insight!!!

Technically speaking I should be retiring today, if they hadnt changed the rules, but actually Id be bored silly if I did