UK Leaves the EU - What happens next?

websaway · Jul 4, 2016

We are having a wake up call on how democracy can be challenged by money. And I think this proves that leaving the undemocratic EU was justified.

websaway · Jul 4, 2016

Edwin said:
From the article...

It's a pretty desperate move which shows just how rattled Osborne is getting.

To put it into context, Corporation Tax receipts for 2014/15 were £43 billion. So a move to 15% would shave about £11 billion off that, every year. That's more than all the money the UK will supposedly get back from leaving the EU!

The reason you drop prices is to increase sales not to take less revenue.

websaway · Jul 4, 2016

The UK will eventually see that it's strengths lie primarily in security. An Island nation one of the biggest economies in the world with massive defence capabilities. A haven for business in the new world order. Businesses will be clambering to have a base here. And we won't be encumbered by EU rules.

websaway · Jul 4, 2016

Farage stepping down. Greatest British figure since Thatcher.

Edwin · Jul 4, 2016

websaway said:
The reason you drop prices is to increase sales not to take less revenue.

It's not prices it's taxes. You're putting more money back in the pockets of profitable companies ie essentially trying to bribe them into ignoring other negatives and opting to stay.

But a tax cut means less government revenue - and that will have to be made up in other ways...

newguy · Jul 4, 2016

websaway said:
The UK will eventually see that it's strengths lie primarily in security. An Island nation one of the biggest economies in the world with massive defence capabilities. A haven for business in the new world order. Businesses will be clambering to have a base here. And we won't be encumbered by EU rules.

Until we know what deal we'll be able to get we have no idea what the country will be like. We will likely have to follow EEA rules and if we somehow manage to detach one of the four freedoms from that we will likely do that at a price, likely economic. It's important to think about what we know and the options that may be available to us based on our situation, rather than just say 'everything is going to be amazing / terrible'.

martin-s · Jul 4, 2016

Edwin said:
It's a pretty desperate move which shows just how rattled Osborne is getting.

Untrue. Being a low CT destination for business has been central to Osbourne's plans for years. He has cut it steadily already and previously announced it being cut to 17%.

https://www.gov.uk/government/publications/corporation-tax-to-17-in-2020

Making the UK attractive for business is a good thing. And the announcement now gives us another negotiation point ("ok, we could leave it at 17% if you give us ...")

AssetDomains · Jul 4, 2016

websaway said:
Farage stepping down. Greatest British figure since Thatcher.

I don't even know were to start with the thatcher comment but as for Farage just seems to be another Rat like Boris deserting the ship that they set in motion to sink (hope I'm wrong about the sinking ship time will tell I guess)

Edwin · Jul 4, 2016

Construction industry suffered its largest decline since June 2009, according to figures just released. Stocks in construction firms are taking another big pounding.

https://www.theguardian.com/busines...b0c5b1280f339a#block-577a1eb5e4b0c5b1280f339a

websaway · Jul 4, 2016

Edwin said:
It's not prices it's taxes. You're putting more money back in the pockets of profitable companies ie essentially trying to bribe them into ignoring other negatives and opting to stay.

But a tax cut means less government revenue - and that will have to be made up in other ways...

When you reduce taxes revenue rises. More companies declare and more companies base themselves in a low tax economy as Ireland proved, low taxes equals less desire to avoid payment.
you simply said that by reducing the tax rate it would reduce income. That in my humble opinion is not a very informed view.

newguy · Jul 4, 2016

Former BNP leader Nick Griffin has endorsed Andrea Leadsom’s bid to be leader of the Conservative Party and Britain’s next Prime Minister - http://polibite.com/nick-griffin-endorses-andrea-leadsom-conservative-party-leadership/

lol, I bet she's thrilled.

Edwin · Jul 4, 2016

It's quite possible that within a couple of months none of the key Leave campaign folk will be anywhere near even a sniff of power.

newguy · Jul 4, 2016

http://economictimes.indiatimes.com...rate-fta-with-uk-cii/articleshow/53007155.cms - India: Lot of merit in negotiating separate FTA with UK

websaway · Jul 4, 2016

Edwin said:
It's quite possible that within a couple of months none of the key Leave campaign folk will be anywhere near even a sniff of power.

Desert the old , I doubt that, do you , really.

BeachLife · Jul 4, 2016

websaway said:
more companies base themselves in a low tax economy as Ireland proved

Many large US companies base themselves in Ireland not for the low CT rate of 12.5%, but for the fact that Irish incorporated companies don't (or didn't) have to be tax resident in Ireland, but can be instead in a tax haven. This enabled them to implement the Double-Irish arrangement, which meant they paid little or no tax at all.

This is used by Apple, Facebook, Microsoft, Google, IBM, Starbucks etc.

Your read about it on Wiki, if you are interested, which I doubt.

In general though, yes a low CT rate is attractive to business. Ireland has the advantage of a low CT rate and access to the EU market, which we couldn't offer of course.

newguy · Jul 4, 2016

https://i.imgur.com/wksbQFN.jpg?1

'Comin' over ere, negotiating our brexit!!'

bonusmedia · Jul 4, 2016

newguy said:
https://i.imgur.com/wksbQFN.jpg?1

'Comin' over ere, negotiating our brexit!!'

It's ok, Mr Farage has kindly offered to help.
We will be employing the "insult your counterpart's appearance and then shout increasingly loudly until you are red in the face" style of continental negotiation.
We won't get what we want, but that's impossible anyway so at least we'll show them we're BRITISH

websaway · Jul 4, 2016

.http://www.express.co.uk/news/uk/686038/New-trade-deals-lined-up-for-Britain-after-brexit

Adam H · Jul 4, 2016

lol :

Edwin · Jul 4, 2016

Standard Life has blocked investors from withdrawing funds from their real estate fund... First such action since the 2008-2009 crisis.
https://www.theguardian.com/busines...e-shuts-property-fund-post-brexit-withdrawals

There is a suggestion that other similar funds will follow their lead, so if you're invested in that kind of asset you may want to cash out pronto before you're prevented from doing so.