Magilla Posted July 22, 2016 Share Posted July 22, 2016 Access to the single market isn't dependant on the free movement of people, but it does appear for now that membership of the single market is dependant on the free movement of people so we will be able to trade within it without being a member of it, just like most countries that trade within it without being members of it. Membership is required for City institutions to make transactions within the EU, which accounts for a significant portion of our GDP. Many companies chose London to house their head offices precisely because of this reason. As before, unless the EU caves on this we will still have to take the free movement of people (like Norway). Link to comment Share on other sites More sharing options...
Berberis Posted July 22, 2016 Share Posted July 22, 2016 Membership is required for City institutions to make transactions within the EU, which accounts for a significant portion of our GDP. Many companies chose London to house their head offices precisely because of this reason. As before, unless the EU caves on this we will still have to take the free movement of people (like Norway). It wont as France has its eyes on our financial sector. London's dominance as the worlds financial capital was due to our EU membership which gave banks and financial institutions access to the worlds most lucrative market and our standing in the world. Now that we are leaving the EU, this is in jeopardy and all those outside of London who voted to leave could damage London's ability to prop up the rest of the country financially. It's very, very worrying as if London starts losing its position (which has started) the UK as a whole will suffer greatly. Love it or loath it, London is the money engine of this country. Link to comment Share on other sites More sharing options...
foxy lady Posted July 22, 2016 Share Posted July 22, 2016 It wont as France has its eyes on our financial sector. London's dominance as the worlds financial capital was due to our EU membership which gave banks and financial institutions access to the worlds most lucrative market and our standing in the world. Now that we are leaving the EU, this is in jeopardy and all those outside of London who voted to leave could damage London's ability to prop up the rest of the country financially. It's very, very worrying as if London starts losing its position (which has started) the UK as a whole will suffer greatly. Love it or loath it, London is the money engine of this country. I think you will find that London was the major financial centre of Europe long before anyone dreamed up the EU. London became a financial centre because of our position in the world not because we were a bit part player in Europe. It continues as a major centre because of the expertise of the people working there and the preference of the markets to deal in English. Link to comment Share on other sites More sharing options...
tzijlstra Posted July 22, 2016 Author Share Posted July 22, 2016 Access to the single market isn't dependant on the free movement of people, but it does appear for now that membership of the single market is dependant on the free movement of people, so we will be able to trade within it without being a member of it, just like most countries that trade within it without being members of it. You are conflating single market with free trade, a very common error. Link to comment Share on other sites More sharing options...
L00b Posted July 22, 2016 Share Posted July 22, 2016 (edited) Love it or loath it, London is the money engine of this country.Latest estimates put it as generating 30% of tax revenue to the Exchequer. That figure should give even the most ardent pro-Leave voter at least pause for thought. One would have to question the capacity for rational and objective thinking of any poster who doesn't. I think you will find that London was the major financial centre of Europe long before anyone dreamed up the EU. London became a financial centre because of our position in the world not because we were a bit part player in Europe. It continues as a major centre because of the expertise of the people working there and the preference of the markets to deal in English.Do you think financiers and traders based in Europe speak English only in London? London might have been a global financial centre in the days of its Empire, but London's recent (last 30 years) pre-eminence as a global financial turntable only arose after Thatcher's deregulation in the 80s on the back of the UK's EU passporting rights. I fully expect that these rights were right at the top of May's crib sheet when she went to see Merkel and Hollande this week, far higher than freedom of movement notes. Edited July 22, 2016 by L00b Link to comment Share on other sites More sharing options...
alhlkh Posted July 22, 2016 Share Posted July 22, 2016 You are conflating single market with free trade, a very common error. I think you will find it was the member I responded to that conflated access to the single market and membership of the single market. We can access it and trade within it without being a member of it. We can also trade in the much larger free trade area. Looking back through some of your posts you appear find median and average confusing, everyone isn't better off just because the average wages rises, some can still see a fall in their wages whilst the average increases. Link to comment Share on other sites More sharing options...
Obelix Posted July 22, 2016 Share Posted July 22, 2016 Here you go. http://www.bbc.co.uk/news/business-36864273 Want to know the consequences? Recession. It's coming, right now and you are not going to stop it. Link to comment Share on other sites More sharing options...
Guest sibon Posted July 22, 2016 Share Posted July 22, 2016 Here you go. http://www.bbc.co.uk/news/business-36864273 Want to know the consequences? Recession. It's coming, right now and you are not going to stop it. Stop worrying. Everything is alright:wink: http://www.bbc.co.uk/news/uk-36864145 Link to comment Share on other sites More sharing options...
ukdobby Posted July 22, 2016 Share Posted July 22, 2016 (edited) Here you go. http://www.bbc.co.uk/news/business-36864273 Want to know the consequences? Recession. It's coming, right now and you are not going to stop it. Oh it's coming alright,people wouldn't listen to both Tory and Labour leaders but preferred to listen to people who wanted to come out to further their own careers and made false promises,UK tighten your belts. Edited July 22, 2016 by ukdobby Link to comment Share on other sites More sharing options...
Longcol Posted July 22, 2016 Share Posted July 22, 2016 Latest estimates put it as generating 30% of tax revenue to the Exchequer. That figure should give even the most ardent pro-Leave voter at least pause for thought. One would have to question the capacity for rational and objective thinking of any poster who doesn't. Do you think financiers and traders based in Europe speak English only in London? London might have been a global financial centre in the days of its Empire, but London's recent (last 30 years) pre-eminence as a global financial turntable only arose after Thatcher's deregulation in the 80s on the back of the UK's EU passporting rights. I fully expect that these rights were right at the top of May's crib sheet when she went to see Merkel and Hollande this week, far higher than freedom of movement notes. The amount we stand to lose with financial services moving abroad will far outstrip any "saving" we make in on our EU contributions. What was that about "extra money for the NHS"? We'll be lucky if they can maintain current spending. Link to comment Share on other sites More sharing options...
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