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REFERENDUM RESULTS AND DISCUSSION THREAD

I must have missed this in all the balanced conversation, but the head of jp Morgan has changed his mind on how awful brexit would be and admitted there won't be huge numbers of jobs going from London to Europe...

http://www.telegraph.co.uk/business...-not-many-jp-morgan-jobs-will-leave-uk-major/

The head of JP Morgan has admitted he will not move many jobs out of Britain in the next two years as a result of Brexit, in a U-turn on his pre-referendum warning that a vote to leave the European Union could mean as many as 4,000 jobs moving across the Channel.

Rather than seeing Britain as a basket case for leaving the EU, Mr Dimon now fears that if the EU fails to address its own problems then the union could break up, with much more serious economic consequences.
 
"In the next two years." In other words it depends on the deal that is struck...or lack of one.
 
So its good news that jobs are being shipped to Europe and that the European economy, are largest export area, could suffer a serious economic crisis.

Keep the good news coming PQ.
 
Just about to mention that myself.

Another thing that the Leave Voters expected to get is quietly parked for several years at least.

To quote Johnny Rotten - "Ever get the feeling you've been cheated?"
 
“We’ve heard [German Chancellor Angela] Merkel take a fairly emollient line,” the Conservative MP John Redwood said after the Brexit vote. “She is only too well aware that German industry is saying to her, ‘For goodness sake do not end up with tariffs and barriers in the way of our very substantial exports to the United Kingdom market.’”

London may be getting ahead of itself. German businesses leaders appear to be behind Merkel when it comes to the integrity of the European Union’s single market. “On the idea that German business might soften the German government’s stance: You can cross that off your list,” is how a German diplomat put it.
The support for the EU from German business executives may not be all that surprising. The union, after all, has greatly benefitted German manufacturers, making it easier for them to access supplies, workers and consumers.


http://www.politico.eu/article/germany-brexit-reaction-so-what-berlin-indifferent-to-london/
 
WE BUY LOADS OF BMWs, YOU THINK THEY'LL WANT THAT TO STOP?!
 
As we are by and large a service industry any German investment on providing utilities etc. cannot be shifted elsewhere. How much manufacturing/job creation in the country is as a result of German investment? What can they take away to affect us? If the EU creates barriers to exporting to the UK then member states will get rather miffed. BMW/VAG are far more powerful than Merkel.
 
Papper said:
As we are by and large a service industry any German investment on providing utilities etc. cannot be shifted elsewhere. How much manufacturing/job creation in the country is as a result of German investment? What can they take away to affect us? If the EU creates barriers to exporting to the UK then member states will get rather miffed. BMW/VAG are far more powerful than Merkel.
Click to expand...

The company that I work for is has a German Parent company. They have a Spanish operation that they could transfer all manufacturing production to from the UK if they see fit. No possible tariffs on raw materials in and no tariffs on exports out (approx £1m to EU subsidiaries).
 
Sniffer Grouse said:
The company that I work for is has a German Parent company. They have a Spanish operation that they could transfer all manufacturing production to from the UK if they see fit. No possible tariffs on raw materials in and no tariffs on exports out (approx £1m to EU subsidiaries).
Click to expand...

I'm not sure many will see fit and I can't see a trade war between us and the Germans. Would imagine the UK market is extremely important for them and they won't bite their nose off to spite their face.


http://www.telegraph.co.uk/business...rexit-britain-qatari-investment-fund-siemens/
 
Man, I'd hate to be you lot, where all news is bad news and everything in the world is negative.

Personally, my glass is half full. We don't yet know how it's all going to turn out, there are positives and negatives, risks, opportunities and issues. Personally, I can't influence any of the negotiations so I'm not going to spend the next couple of years being negative but I'll take an interest in what's happening.

At the moment it's all talk and positioning from both sides, so I don't take too much notice of what's said by politicians on either side, but I'd hope something sensible will be agreed, with both sides calming down a bit and allowing a bit of give. I think it will - the last thing either party wants is an enemy of the other, so it's in their interests to be halfway reasonable.

In the meantime, the warnings of economic collapse the week after the vote have been proven wrong. Summer is on the way, and life is looking good. I hope you're all having as good a week as I am :)
 
About 46% of the UK’s exports go to other EU countries, while somewhere between 8-17% of exports from other EU countries go to the UK (depending on how you measure it).

Exports to the rest of the EU are worth about 13% of the UK’s economy, and exports from other EU countries to the UK are worth about 3-4% of the value of those countries’ economies taken as a whole.
 
That's a completely meaningless statistic. Big shock that 27 countries have more trade between them than they do with one. So what? The issue is whether the uk's economy will lose more in the long term with less trade from the eu, and more from internal trade and external non eu. What happens within the eu currently doesn't mean much.

44% of exports went to the eu. 53% of imports came from the eu. If the eu imposes massive tariffs then we do the same, and the end result is that we need to make more internally which is good for the economy. Or we arrange trade with other economies outside of the eu, with aspects also to our benefit. Either way, it can be a positive. The glass is still half full.
 
Premier Quality said:
Or we arrange trade with other economies outside of the eu, with aspects also to our benefit. Either way, it can be a positive. The glass is still half full.
Click to expand...

Have you ever tried to sell a manufactured product outside of the EU? Unless you have a global brand that everyone wants then you will have a hard job doing so. Most of the rest of the world will have lower labour rates so any products that require labour will already be more expensive from the UK. Even if you are still ball park at this point price wise if you factor in the shipping costs to these far flung places then the chances are that you won't be competitive.

You talk about these trade deals as if its a given that they will want our products at whatever price we can manufacture them for. It won't be the case.

I hope that the very worst a low tariff is placed on inter EU trade so that we don't lose too much business to our biggest trading Bloc.
 
56% of our exports go outside of the eu. Given we sell so much outside the eu, is it beyond he realms of possibility that we could sell more?
 
Premier Quality said:
56% of our exports go outside of the eu. Given we sell so much outside the eu, is it beyond he realms of possibility that we could sell more?
Click to expand...

What makes you think people aren't trying to sell more already but can't and those markets are at saturation/ barrier point anyway?
 
Premier Quality said:
56% of our exports go outside of the eu. Given we sell so much outside the eu, is it beyond he realms of possibility that we could sell more?
Click to expand...

How much of this is branded goods like JCB's, Jaguars, Land Rovers, Rolls Royce Engines, Oil, Spirits or perhaps weapons to questionable countries etc etc? I must admit that I don't know the answer but I would imagine that those type of sales make up a large percentage. How can a metal basher in Birmingham compete with Indian or Chinese manufacturers who pay next to nothing in wages and only turn the factory lights on if visitors go round? At least you have a chance with a similar market, with similar H&S and T&C's who are right on your doorstep.

If you think that its easy to sell outside of the EU I'll send you a 100 catalogues, airfares to say Nigeria or India with expenses paid and salary for 3 months and we can see how you get on.
 
Sniffer Grouse said:
Have you ever tried to sell a manufactured product outside of the EU? Unless you have a global brand that everyone wants then you will have a hard job doing so. Most of the rest of the world will have lower labour rates so any products that require labour will already be more expensive from the UK. Even if you are still ball park at this point price wise if you factor in the shipping costs to these far flung places then the chances are that you won't be competitive.

You talk about these trade deals as if its a given that they will want our products at whatever price we can manufacture them for. It won't be the case.

I hope that the very worst a low tariff is placed on inter EU trade so that we don't lose too much business to our biggest trading Bloc.
Click to expand...

This exactly this.

I very much doubt most of the 'it'll be alright band' have ever worked in export sales.
 
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