Originally posted by bobspud
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Originally posted by bobspud View PostIt always was in those currencies. You will find there are more subtle advantages to being here. Rather like the Swiss.
So far we have been vocal about tax avoidance and some of the tricks. But it won't take much to make us a tax refuge just off the coast of the eu...Comment
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Originally posted by Rabotnik View PostI wondered about this. I know nothing about Finance, but now we aren't in the EU can't we just do something like charge 5% tax to banks or something extreme to make them all come here which the EU wouldn't have permitted previously?
Also, the UK could introduce 10% corporation tax. Boomed......Comment
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Originally posted by BrilloPad View PostIndeed. Until the 60s London was nowhere. New York was king. Then USA introduced large tax rises. Coupled with Eurodollar, London never looked back.
Also, the UK could introduce 10% corporation tax. Boomed......Comment
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It's not about taxes it's about trading under a financial regulator, i.e. currently a European bank can simply carry out a trade in London, in the future it won't be able to that because trades in London will not have recognised supervision. A huge amount Euro bond trading will have to take place on exchanges in the EU. That is the business that will disappear.
Switzerland, which has no passporting rights exports no financial trading as London does, it's all domestic wealth management of Swiss funds.I'm alright JackComment
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Originally posted by BlasterBates View PostIt's not about taxes it's about trading under a financial regulator, i.e. currently a European bank can simply carry out a trade in London, in the future it won't be able to that because trades in London will not have recognised supervision. A huge amount Euro bond trading will have to take place on exchanges in the EU. That is the business that will disappear.
Switzerland, which has no passporting rights exports no financial trading as London does, it's all domestic wealth management of Swiss funds.Comment
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Originally posted by bobspud View PostSo if I get this right the euro bonds that are not much better than junk now leave the uk banking system and get traded on an EU exchange?"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostLast week German negative interest rate bonds were purchased over British positive rate bonds. Looks like the investors made the right choice. How did they know?
This is no longer about us staying comparible to the euro, we are looking for growth and making ourself attractive value.
They were also talking about German bonds not fully selling out.Comment
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Originally posted by bobspud View Post
This is no longer about us staying comparible to the euro, we are looking for growth and making ourself attractive value."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by bobspud View PostI think we are less likely to default on debts when we own our own printing press and if need be can inflate our own debts away while currency devaluation occurs.Comment
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