The UK economy DID NOT double-dip

[Hairyloon]

We can't feed ourselves though, why do you think the U Boats tried to sink our Marchant Navy during the war?

We are actually quite a lot closer to doing it than you might think. I may, if pressed, find a reference.

Financial services have for many years contributed around 10% of UK GDP and tax revenues.

Yes, but they also elevate the cost of living for everybody by a factor that is almost impossible to calculate.

Now I know that some would like to see the whole financial services move abroad because they are jealous of a few high salaried jobs, and a few thousand very high bonuses.

No, I would like to see a global rethink of the entire economic structure.

It is not built upon sound foundations. Another collapse is inevitable, and it will probably make the last one look like a blip.

[maxmaximus]

We are actually quite a lot closer to doing it than you might think. I may, if pressed, find a reference.

 

Yes, but they also elevate the cost of living for everybody by a factor that is almost impossible to calculate.

 

No, I would like to see a global rethink of the entire economic structure.

It is not built upon sound foundations. Another collapse is inevitable, and it will probably make the last one look like a blip.

 

A DEFRA report says “Currently the UK is 60% self-sufficient in all foods and over 74% self-sufficient in foods that can be produced in this country”. This “self-sufficiency ranges from around 10% for fresh fruit to around 100% for cereals.

[NorthernStar]

Well that's a great comment from someone who clearly would be happy to enjoy the type of standard of living of the population of Cuba.

 

What? the way things are heading I think that's what we can expect thanks to the bankers and other greedy non productive parasites.

 

Whether you like it or not manufacturing in the UK is being priced out of the market. Companies such as Ford have closed every car and truck assembly plant in the UK and moved them abroad, and they are not alone.

Financial services have for many years contributed around 10% of UK GDP and tax revenues.

 

How much have they taken in bailouts and a blind eye to their corrupt and unaccountable practices?

 

The sector also employs over 1000,000 people in the UK. It is unfortunate that Gordon Brown handed over regulation of the sector to the FSA and on his watch a handful of banks required a bailout. But the bailout was in the form of nationalisation not a handout, so the cost to the country will largely be recouped when the banks are resold. The cost anyhow is a drop in the ocean compared to the taxes the sector has paid over the years.

 

They weren't nationalised at all, how many public sector workers do you know get the kind of bonuses for failure the bankers get?

 

.....and as for recouping our money, not a cat in hells chance, the arrogance and attitude of the banking sector is clear to see from the Anglo-Irish tapes, they give us some insight.

 

Now I know that some would like to see the whole financial services move abroad because they are jealous of a few high salaried jobs, and a few thousand very high bonuses. This would increase unemployment in the UK by at least 1,000,000 and knock GDP by twice the amount Brown managed to knock off it with 2 years of recession. There are also rather a lot of countries around the world who would love to give a home to our financial services. They already have attracted quite a few.

 

HSBC stands for Hong Kong and Shanghai Banking Corporation. They are currently based in London and declared a profit of £5.4 billion in the first quarter of this year on which it paid tax in the UK. It would be a matter of a moment for them to relocate their head offices to Hong Kong and declare their profits there.

 

I doubt other countries really would give them the free reign that we have, and that is why they come to the city of corruption and quite frankly I don't think they are worth the grief I hope they take their corruption somewhere like China where they would be shot for some of the crimes they have committed here. Do you think that Lord Green would have been invited to join the cabinet as a reward for money laundering for terrorists and Mexican drug cartels in Shanghai?

[Dingus]

What? the way things are heading I think that's what we can expect thanks to the bankers and other greedy non productive parasites.

 

 

 

How much have they taken in bailouts and a blind eye to their corrupt and unaccountable practices?

 

 

 

They weren't nationalised at all, how many public sector workers do you know get the kind of bonuses for failure the bankers get?

 

.....and as for recouping our money, not a cat in hells chance, the arrogance and attitude of the banking sector is clear to see from the Anglo-Irish tapes, they give us some insight.

 

 

 

I doubt other countries really would give them the free reign that we have, and that is why they come to the city of corruption and quite frankly I don't think they are worth the grief I hope they take their corruption somewhere like China where they would be shot for some of the crimes they have committed here. Do you think that Lord Green would have been invited to join the cabinet as a reward for money laundering for terrorists and Mexican drug cartels in Shanghai?

 

If you care to check your facts the bail out of the banks amounted to a government buy out of bank shares. That was Gordon Brown's choice. It has left us with major shareholdings in several banks and DID cause major discussion about bonuses in the banks concerned with the result that bonuses were capped and many executives did not take the bonuses awarded.

 

Regarding bankers moving overseas. This is just one example. The Swiss are very happy to take the revenue.

http://www.channel4.com/news/british-bankers-head-to-switzerland

 

There has been a 28 per cent increase in the number of British bankers and financial services workers migrating to Switzerland, writes Business Producer Ben King.

Financial institutions and politicians have lobbied government against increased taxation, arguing that the changes would drive the banking industry overseas. Switzerland, with its low personal and business taxes, is a favoured destination.

 

Figures from the Swiss Federal Migration Office show that 383 British citizens working in banking and financial services moved to Switzerland in 2010, an increase of 28 per cent on the previous year.

 

Under the broader rubric of banking, insurance and consulting, which includes IT, 1379 Britons were given permission to work long-term in Switzerland in 2010. This is an increase of 29 per cent over the 2009 figure.

 

Matthaeus Den Otter, of the Swiss Funds Association, said: "These figures sound very plausible. There has been a steady influx of skilled workers. We estimate that some 20 to 25 firms of UK hedge funds have set up offices in Switzerland over the past year, and the banks will have sent over some specialised staff as well."

 

Unofficial estimates from the hedge fund industry in the UK put the number leaving for Switzerland at about 100 per year, though those would be very high net worth individuals such as the founders of funds, so their departure would represent a significant loss to the exchequer.

 

The Federal Migration Office points out that the economic recovery is a factor in the increased migration rate. But the increase in the rate of immigration of British bankers exceeds that of other nationalities. Excluding Britons, the increase in banker migration was 14 per cent.

 

These numbers do not give a complete picture of the pattern of migration. Many of the financial experts working in the UK are not British citizens - so their migration would not show up in these figures. If they have been leaving London at a similar rate to British bankers, the true extent of talent flight from the City could be greater than these figures suggest.

[taxman]

There has been a 28 per cent increase in the number of British bankers and financial services workers migrating to Switzerland, writes Business Producer Ben King.

 

It's a pity a lot of them didn't bugger off abroad a few years ago instead of crashing the country. Ooh, they're so intelligent, they're so brilliant, we can't possibly do without them.

 

[Dingus]

It's a pity a lot of them didn't bugger off abroad a few years ago instead of crashing the country. Ooh, they're so intelligent, they're so brilliant, we can't possibly do without them.

 

 

And GDP is still 3.5% shy of what it was in 2007 because of migrations of tax payer and tax paying industries. It is a good job that you aren't a real tax man, because if tax men thought like you we would be deep in the doo doo.

I think you will find that 90% of financial institutions turned in a profit every year through the down turn, which is more than can be said for the majority of British industries.

 

http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0CD0QFjAB&url=http%3A%2F%2Fwww.hl.co.uk%2F__data%2Fassets%2Fpdf_file%2F0020%2F79103%2FAnnual_Report_2009.pdf&ei=lfLNUZGRBYWD4gS_24HYBw&usg=AFQjCNGHSpyJEz3WpYbeMqQhJDgoNq5_Gw&bvm=bv.48572450,d.bGE

 

http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CDIQFjAA&url=http%3A%2F%2Fwww.hl.co.uk%2F__data%2Fassets%2Fpdf_file%2F0010%2F4873888%2F2010-Report-and-Financial-Statements.pdf&ei=mvPNUdXOFea24ASIroGoCw&usg=AFQjCNFuY7uPodMmlBvayL4eQJYWFgEDKQ&bvm=bv.48572450,d.bGE

[NorthernStar]

And GDP is still 3.5% shy of what it was in 2007 because of migrations of tax payer and tax paying industries. It is a good job that you aren't a real tax man, because if tax men thought like you we would be deep in the doo doo.

I think you will find that 90% of financial institutions turned in a profit every year through the down turn, which is more than can be said for the majority of British industries.

 

http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&ved=0CD0QFjAB&url=http%3A%2F%2Fwww.hl.co.uk%2F__data%2Fassets%2Fpdf_file%2F0020%2F79103%2FAnnual_Report_2009.pdf&ei=lfLNUZGRBYWD4gS_24HYBw&usg=AFQjCNGHSpyJEz3WpYbeMqQhJDgoNq5_Gw&bvm=bv.48572450,d.bGE

 

http://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=0CDIQFjAA&url=http%3A%2F%2Fwww.hl.co.uk%2F__data%2Fassets%2Fpdf_file%2F0010%2F4873888%2F2010-Report-and-Financial-Statements.pdf&ei=mvPNUdXOFea24ASIroGoCw&usg=AFQjCNFuY7uPodMmlBvayL4eQJYWFgEDKQ&bvm=bv.48572450,d.bGE

 

Yeah, just where would we be without wonga and Osbornes printing press:rolleyes:

[Dingus]

Yeah, just where would we be without wonga and Osbornes printing press:rolleyes:

 

I'm not sure that Wonga are part of the banking industry. But if your argument has got that lame so be it.

[Jeffrey Shaw]

A DEFRA report says “Currently the UK is 60% self-sufficient in all foods and over 74% self-sufficient in foods that can be produced in this country”. This “self-sufficiency ranges from around 10% for fresh fruit to around 100% for cereals.

And shorn of the EU, it'd be easy for the UK to be mostly self-sufficient (with the Commonwealth supplying everything else).

[alchresearch]

We can't feed ourselves though, why do you think the U Boats tried to sink our Marchant Navy during the war?

 

They carried more than just food though - troops, fuel and equipment.