18k jobs to the area as a direct result of Brexit...

Londons_Moggie said:
Inversion tariffs. Read up on EU free ports and the model we are taking. Not trying to patronise you but there is a big difference. EU free ports aren’t really free ports
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Yes, I'm aware of inversion tarriffs. I'm also aware that freeports are a way of attracting investment by allowing zero % tax on companies. So GE will likely setup, make huge profits, pay nothing back into the market that allows them to exist but at least there'll be a few more jobs. Massive reduction in corp tax and import taxes for foreign companies, and therefore profits for foreign shareholders, at the expense of our exchequer and public services. It's far from a clear win.
 
BoroMart said:
Yes, I'm aware of inversion tarriffs. I'm also aware that freeports are a way of attracting investment by allowing zero % tax on companies. So GE will likely setup, make huge profits, pay nothing back into the market that allows them to exist but at least there'll be a few more jobs. Massive reduction in corp tax and import taxes for foreign companies, and therefore profits for foreign shareholders, at the expense of our exchequer and public services. It's far from a clear win.
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I think one created job in an area like ours is a win.
 
BoroMart said:
again a complete simplification. If that were the case, then tripling our national debt every year would be the way to go, and would have impact on our lives......good job you are not the chancellor.
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A simplification it maybe but it is factually correct. If you physically can't service the debt then the amount is irrelevant.

We could increase taxes by another 20% but it wouldn't help anyone would it?

The figures involved in respect of the national debt are so high that it really isn't worth thinking about.
 
Londons_Moggie said:
I think one created job in an area like ours is a win.
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I wonder what he would think if the jobs created included one for him or his son or whatever and allowed for a life to be lived.

We need jobs and we should not turn our noses up at anyone that is going to provide them.
 
ChrisTheRed said:
A simplification it maybe but it is factually correct. If you physically can't service the debt then the amount is irrelevant.

We could increase taxes by another 20% but it wouldn't help anyone would it?

The figures involved in respect of the national debt are so high that it really isn't worth thinking about.
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well that is your assumption that we phsyically can't service the debt. Your assumption that having more debt is not going to change a thing is factually incorrect. It will harm our debt rating and make us a more risky loan. Countries go pop occasionally, see Greece.
 
BoroMart said:
well that is your assumption that we phsyically can't service the debt. Your assumption that having more debt is not going to change a thing is factually incorrect. It will harm our debt rating and make us a more risky loan. Countries go pop occasionally, see Greece.
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True but no country that is part of the supposed worlds greatest trading bloc should go pop. It’s a sign that the bloc don’t work
 
Londons_Moggie said:
True but no country that is part of the supposed worlds greatest trading bloc should go pop. It’s a sign that the bloc don’t work
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It's a sign that individual countries had their own sovereignty to make their own decisions, including getting them drastically wrong.
 
ChrisTheRed said:
I attributed it based on information in the article.

You don't want to believe it to be positive good news.

Well I do believe it to be positive good news.

In a time when everything is negative... Try to give being positive a go.
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Agree with you 100%, I was chuffed when I 1st heard it Chris & still am 👍
 
BoroMart said:
well that is your assumption that we phsyically can't service the debt. Your assumption that having more debt is not going to change a thing is factually incorrect. It will harm our debt rating and make us a more risky loan. Countries go pop occasionally, see Greece.
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So you think we can comfortably service the debt without going on to cause other problems in society?

It will take many many many years of small chucks and it will be ongoing long after we are all dead and buried as well as the next generation.
 
BoroMart said:
It's a sign that individual countries had their own sovereignty to make their own decisions, including getting them drastically wrong.
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You’re correct that Greece should of Dealt with their economy better but essential bankruptcy of a whole nation that is is in the EU should never happen. The Southern European economies are only propped up by the richer members of the bloc.
 
ChrisTheRed said:
So you think we can comfortably service the debt without going on to cause other problems in society?

It will take many many many years of small chucks and it will be ongoing long after we are all dead and buried as well as the next generation.
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Did I say comfortably? There will be some uncomfortable decisions to make and if we don't make them we could ruin the country for a very long time. Regress it to a non-global power, we're already on the way, our Moody rating gone from AAA to Aa3, our international standings and trust harmed, our economy dropping, our health service struggling.
 
Government debt at 1% interest is always manageable, if it gets to 5% that's another issue. 85% of the debt is to the Bank of England, i.e you and me.

I understand it will be equal to one years GDP, I cannot understand that. But it has been higher in real terms.
 
Londons_Moggie said:
You’re correct that Greece should of Dealt with their economy better but essential bankruptcy of a whole nation that is is in the EU should never happen. The Southern European economies are only propped up by the richer members of the bloc.
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To an extent yes, but the idea is that letting them in was an investment for all. As those countries improved their economy, there would be more opportunity to sell to that single market country.
 
BoroMart said:
Did I say comfortably? There will be some uncomfortable decisions to make and if we don't make them we could ruin the country for a very long time. Regress it to a non-global power, we're already on the way, our Moody rating gone from AAA to Aa3, our international standings and trust harmed, our economy dropping, our health service struggling.
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Yes but people won't accept those decisions will they?

I mean the NHS payrise of 1% has shown that on a small scale it is only likely to snowball from here.
 
BoroMart said:
To an extent yes, but the idea is that letting them in was an investment for all. As those countries improved their economy, there would be more opportunity to sell to that single market country.
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True but they’d prosper a lot better with their own currency. The EU’s position after it with the awful austerity measures led to a rise of the far right in Greece. The EU inadvertently is responsible for the same in most EU countries.
 
ChrisTheRed said:
Yes but people won't accept those decisions will they?

I mean the NHS payrise of 1% has shown that on a small scale it is only likely to snowball from here.
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like I said tough decisions. Eventually, one day, your gonna have to start taxing the very rich, very heavily. As wealth transfers upwards for the last 10 years, you have to call their bluff eventually, because that's where the available capital is. That's why I say tax breaks to these companies via freeports is a massive negative, because it keeps the tax burden on the already overburdened working classes.
 
Londons_Moggie said:
True but they’d prosper a lot better with their own currency. The EU’s position after it with the awful austerity measures led to a rise of the far right in Greece. The EU inadvertently is responsible for the same in most EU countries.
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some truth in that, that's why I'm not a fan of the single currency.
 
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