Xann Posted September 8, 2022 Share Posted September 8, 2022 Quote There are "many" benefits of Brexit in the UK, a Tory Peer has told LBC - including removing the cap on bankers' bonuses. Lord Michael Spencer, businessman and former treasurer of the Tory party, was asked by LBC's Nick Ferrari whether there were benefits to be had from the UK's departure from the EU. Lord Spencer said: "Yes, many." When Nick asked him to list some, the Tory peer said: "European regulation... had been lumbered on financial services, which should be peeled off. "And one of them which, of course, won't poll well, is take away the cap on bankers' bonuses. "I mean, that was all a European project." When Nick pointed out that was unlikely to be a popular answer, Lord Spencer said: "Financial services is one of our most successful, and indeed I think our single most successful export business. "And if we want to retain the City of London as a leading financial services centre, we should get rid of all that baggage on our backs. "We've moved away from the financial crisis, it was more than 10 years ago." Bonuses in the financial sector were forecast to rocket by 20 per cent in 2021-22, the Office for Budget Responsibility (OBR) said in March. And in January some bankers had their biggest bonuses since the 2008 financial crash. Top investment bankers at HSBC saw an average bonus of £596,000 in 2021 - on top of an average yearly salary of £479,000, according to This Is Money. LBC Link to comment Share on other sites More sharing options...
sidcow Posted September 8, 2022 VT Supporter Share Posted September 8, 2022 11 minutes ago, Xann said: LBC Link to comment Share on other sites More sharing options...
Genie Posted September 9, 2022 Share Posted September 9, 2022 (edited) The pound has quietly slid from 1.35 to the dollar at the start of this year to 1.14 today. It’s a pretty huge devaluation and I’m surprised more isn’t being said (ok not this week, but before now). Its another thing that would immediately improve if we announced a closer working relationship with the EU. Edited September 9, 2022 by Genie Link to comment Share on other sites More sharing options...
tinker Posted September 9, 2022 VT Supporter Share Posted September 9, 2022 17 minutes ago, Genie said: The pound has quietly slid from 1.35 to the dollar at the start of this year to 1.14 today. It’s a pretty huge devaluation and I’m surprised less isn’t being said (ok not this week, but before now). Its another thing that would immediately improve if we announced a closer working relationship with the EU. Well that hasn't helped fuel prices, has it? All down to Russia though....... 1 Link to comment Share on other sites More sharing options...
Genie Posted September 9, 2022 Share Posted September 9, 2022 19 minutes ago, tinker said: Well that hasn't helped fuel prices, has it? All down to Russia though....... Yep, theres a 15% price increase on a barrel of oil already. Link to comment Share on other sites More sharing options...
pas5898 Posted September 9, 2022 Share Posted September 9, 2022 38 minutes ago, Genie said: The pound has quietly slid from 1.35 to the dollar at the start of this year to 1.14 today. It’s a pretty huge devaluation and I’m surprised more isn’t being said (ok not this week, but before now). Its another thing that would immediately improve if we announced a closer working relationship with the EU. The Euro has also slid a similar amount, if not more against the dollar. Link to comment Share on other sites More sharing options...
Genie Posted September 9, 2022 Share Posted September 9, 2022 2 minutes ago, pas5898 said: The Euro has also slid a similar amount, if not more against the dollar. True, but the pound is also down from 1.20 to the Euro in Feb to about 1.14 now (5% ish). Lots of factors, Brexit being one of them. (Brexit that was sold as no downsides). Link to comment Share on other sites More sharing options...
Genie Posted September 20, 2022 Share Posted September 20, 2022 Quote The UK is weighing up whether to attend a new European political "club of nations" next month. The first meeting of the "European Political Community" is due to be held in Prague in early October. Downing Street wants to see more detail on the summit before Prime Minister Liz Truss commits to attending it and no final decision has been made. The European Political Community is an idea championed by the French President Emmanuel Macron. He proposed it, in May, as a "new space" for co-operation. Mr Macron suggested the group could discuss security, energy and transport as well as the movement of people, particularly the young. BBC Link to comment Share on other sites More sharing options...
Ingram85 Posted September 20, 2022 Share Posted September 20, 2022 No trade deal with the US anytime soon. Yay Brexit. Yay Truss. What a shower. Link to comment Share on other sites More sharing options...
NurembergVillan Posted September 20, 2022 Moderator Share Posted September 20, 2022 It's not like we were promised one by 2022, or anything. Ah... Link to comment Share on other sites More sharing options...
ml1dch Posted September 20, 2022 Share Posted September 20, 2022 (edited) 7 minutes ago, Ingram85 said: No trade deal with the US anytime soon. Yay Brexit. Yay Truss. You're saying that like it's a bad thing. It's good news from nearly every angle. Edited September 20, 2022 by ml1dch 1 Link to comment Share on other sites More sharing options...
MakemineVanilla Posted September 20, 2022 Share Posted September 20, 2022 The problem with Brexit is that those who told us it was a good thing, forgot to mention that most of the UK's sovereignty had already been signed away by international treaty. Link to comment Share on other sites More sharing options...
Ingram85 Posted September 20, 2022 Share Posted September 20, 2022 2 minutes ago, ml1dch said: You're saying that like it's a bad thing. It's good news from nearly every angle. No trade deal with one of the worlds biggest markets is a good thing now? Link to comment Share on other sites More sharing options...
Harkanon Posted September 21, 2022 Share Posted September 21, 2022 13 hours ago, ml1dch said: You're saying that like it's a bad thing. It's good news from nearly every angle. What 'acute' comment. Not exactly 'straight' to the point though. One could call that rather 'obtuse'. 1 Link to comment Share on other sites More sharing options...
bickster Posted September 21, 2022 Moderator Share Posted September 21, 2022 13 hours ago, Ingram85 said: No trade deal with one of the worlds biggest markets is a good thing now? Any Trade Deal with the US would be on their terms not ours The ill fated TTIP was an awful deal with some VERY bad parts in it. It would very definitely not be a trade deal amongst equals Link to comment Share on other sites More sharing options...
Genie Posted September 21, 2022 Share Posted September 21, 2022 3 minutes ago, bickster said: Any Trade Deal with the US would be on their terms not ours The ill fated TTIP was an awful deal with some VERY bad parts in it. It would very definitely not be a trade deal amongst equals Would it be better than what we have (nothing)? This club of nations thing looks interesting. Could be a back door into a trade deal with the EU without it having “EU” written all over it upsetting the flag shaggers. Link to comment Share on other sites More sharing options...
Straggler Posted September 21, 2022 Share Posted September 21, 2022 4 minutes ago, bickster said: Any Trade Deal with the US would be on their terms not ours The ill fated TTIP was an awful deal with some VERY bad parts in it. It would very definitely not be a trade deal amongst equals It's the deal the NHS is being softened up for. US private healthcare is positively tumescent with the idea of getting its hands on our NHS. Loosing the NHS into private hands would be even worse than Brexit IMO and it is happening Infront of our eyes. 4 Link to comment Share on other sites More sharing options...
bickster Posted September 21, 2022 Moderator Share Posted September 21, 2022 52 minutes ago, Straggler said: It's the deal the NHS is being softened up for. US private healthcare is positively tumescent with the idea of getting its hands on our NHS. Loosing the NHS into private hands would be even worse than Brexit IMO and it is happening Infront of our eyes. That is exactly why TTIP was so bad. Well one of the reasons Link to comment Share on other sites More sharing options...
ml1dch Posted September 21, 2022 Share Posted September 21, 2022 (edited) 14 hours ago, Ingram85 said: No trade deal with one of the worlds biggest markets is a good thing now? It depends completely on the circumstances and the terms. And right now, neither would be particularly beneficial. The point of a trade deal is to reduce barriers to trade - and there aren't that many at the moment in a lot of areas where there is a healthy import / export flow, mainly industrial equipment, vehicles, tech, pharmaceuticals, medical supplies. So a new arrangement isn't really going to do much there. So what barriers do we want to be reduced? For them, it's agriculture to allow stuff that doesn't currently meet UK standards to be exported (see about a dozen different backlashes over the last five years), for us it's services (which isn't really feasible in lots of areas we do well at, given a lot of services aren't even harmonised from state to state - a lawyer from Utah doesn't have the right to practice in Ohio for example). So - where is the win? It would be highly performative, done for no other reason other than being able to say that it had been done. It does rather seem that a surprisingly large number of people have taken as their position both "OMG, a trade deal would be terrible, who wants to eat chlorinated chicken?" whenever the papers say that it might happen, and "OMG, isn't it terrible that we don't have a trade deal" when it isn't. Then again, there are plenty on the other side for it is both the Holy Grail and "the point of all the horrors of the last six years" when it looks possible, and a shrug-of-the-shoulders irrelevance when it doesn't. Edited September 21, 2022 by ml1dch 2 Link to comment Share on other sites More sharing options...
Genie Posted September 25, 2022 Share Posted September 25, 2022 Quote Immigration rules are set to be loosened as part of Liz Truss’s mission to boost growth. The Prime Minister is expected to expand the Government’s shortage occupation list in order to help businesses fill vacancies by more easily recruiting overseas workers. Ms Truss has faced industry demands for more migrant workers to be given visas to come to the UK, with labour shortages one of the main concerns voiced by employers across a range of sectors. Downing Street did not deny that the Prime Minister is planning to liberalise routes to allow foreign workers to move to the UK, as first reported in The Sun Another bold move. Link Link to comment Share on other sites More sharing options...
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