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Old 24.03.2011, 09:33
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UK Budget 2011 & the mass exodus...

What a mess!

The UK Government are trying their best to make Britain look attractive for business & bankers but has the coalition really put the last nail in the coffin for virtually the only major industry left in the UK?

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The chancellor cut corporation tax, which he said would keep firms in this country instead of being tempted to go abroad.
Yet, at the same time, Mr Osborne promised to raise the levy on banks, bringing in an extra 285million from January.
The increase is the second this year and follows the announcement last month that the bank tax would increase by 800million to 2.5billion this year.
I'm sure many Banks HQ's will bail out over the next few years & relocate. Expect many of them to come here.

Budget 2011: Is Britain open for Business?

Last edited by transition; 24.03.2011 at 10:08.
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Old 24.03.2011, 09:57
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Re: UK Budget 2011 & the mass exodus...

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I'm sure many Banks/Business HQ's will bail out over the next few years & relocate. Expect many of them to come here.
Fear not, to compensate banks leaving, that one pence cut on petrol means many hundreds of logistics companies will soon relocate to the UK..
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Old 24.03.2011, 10:11
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Re: UK Budget 2011 & the mass exodus...

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Fear not, to compensate banks leaving, that one pence cut on petrol means many hundreds of logistics companies will soon relocate to the UK..
Except that many Petrol stations put the prices up by 1p just before the announcement to then lower it just after by 1p. A joke.
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Old 24.03.2011, 10:57
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Re: UK Budget 2011 & the mass exodus...

"The future is bright"...oh no sorry I missed out the NOT.
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Old 24.03.2011, 11:05
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Re: UK Budget 2011 & the mass exodus...

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What a mess!

The UK Government are trying their best to make Britain look attractive for business & bankers but has the coalition really put the last nail in the coffin for virtually the only major industry left in the UK?



I'm sure many Banks HQ's will bail out over the next few years & relocate. Expect many of them to come here.

Budget 2011: Is Britain open for Business?
The banks position is one of bluff and blunder ... let them come to CH. Then go an read the articles about the bankers flooding back to the UK from CH, because although, on paper, Zurich works, they miss London , the variety and the buzz

US, Uk and Europe will be come far tougher on the banking industries cavalier approach to boom and bust. Nobody can allow it to happen again - the banks days on a pedestal have gone.

And if everyone in banking want to move to Singapore or Shanghai, then let them ...
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Old 24.03.2011, 11:09
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Re: UK Budget 2011 & the mass exodus...

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The banks position is one of bluff and blunder ... let them come to CH. Then go an read the articles about the bankers flooding back to the UK from CH, because although, on paper, Zurich works, they miss London , the variety and the buzz

US, Uk and Europe will be come far tougher on the banking industries cavalier approach to boom and bust. Nobody can allow it to happen again - the banks days on a pedestal have gone.

And if everyone in banking want to move to Singapore or Shanghai, then let them ...
But we're only an hour away by helicopter?
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Old 24.03.2011, 11:12
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Re: UK Budget 2011 & the mass exodus...

Straight economics

You need to make stuff and export it to create wealth. Investment bankers create "non existant money." Difference is the bubble bursts on one type of wealth creation and the other doesn't.

Banks have had their chance to sort this out on multiple occasions they are continually proven to be greedy, deceptive and well good at tax avoidance. I say tax them and put the money into something useful like free science and engineering degrees etc etc.

Let them move to CH why do you think that they are in London? A banker explained to me London's like the wild west of banking and CH has a different mentality.

Nice to see the oil companies complaining about being hammered for tax after their profits on the source oil have gone through the roof. "We need it for investment" yeah right just like in the gulf of mexico eh.
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Old 24.03.2011, 11:16
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Re: UK Budget 2011 & the mass exodus...

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But we're only an hour away by helicopter?
Ok , so make sure the door doesn't bang you on the arse on the way out ....

I'm not too sure the UK will suffer from the mass grief shown to Lady Di when the bankers move ( for a very short while until they get bored sh**less)

See the above post
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Old 24.03.2011, 11:26
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Re: UK Budget 2011 & the mass exodus...

oh dear, another bash the bankers thread, imagine if you where a muslim banker, you'd be the most hated person on the planet.
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Old 24.03.2011, 11:27
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Re: UK Budget 2011 & the mass exodus...

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The banks position is one of bluff and blunder ... let them come to CH. Then go an read the articles about the bankers flooding back to the UK from CH, because although, on paper, Zurich works, they miss London , the variety and the buzz
They've already done one in The Economist, although it was in relation to Geneva.

http://www.economist.com/node/18289282

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Bored and frustrated traders are homesick for grimy, high-tax London
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Old 24.03.2011, 11:31
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Re: UK Budget 2011 & the mass exodus...

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oh dear, another bash the bankers thread, imagine if you where a muslim banker, you'd be the most hated person on the planet.
Why?
What is wrong with muslims?
Or is that your predudice?

I'm not bashing bankers - but the banks should STFU and stop whinging and get their houses in order
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Old 24.03.2011, 11:31
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Re: UK Budget 2011 & the mass exodus...

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oh dear, another bash the bankers thread, imagine if you where a muslim banker, you'd be the most hated person on the planet.
Not really I have investment bankers who are friends, i've got nothing against what they earn or who they are. What I do have a problem with is this bullet proof mentality that they are untouchable and money is a god given right regardless of their performance.

This caused all the problems in the first place.
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Old 24.03.2011, 11:34
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Re: UK Budget 2011 & the mass exodus...

Part of my point in this thread was to state 'WTF is there left?' in the UK if the bankers leave, rather than bash them... ...over the years the politicians have really messed up a once great country!

And for the smokers there: 7 quid a packet to kill yourself!
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Old 24.03.2011, 11:35
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Re: UK Budget 2011 & the mass exodus...

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Ok , so make sure the door doesn't bang you on the arse on the way out ....

I'm not too sure the UK will suffer from the mass grief shown to Lady Di when the bankers move ( for a very short while until they get bored sh**less)

See the above post

for one second put your hatred of bankers aside.

now consider this, an investment bank actually has very few 'bankers' most of the staff are back end, doing mundane things like IT, say HSBC leave london for Hong Kong (where the ceo is based anyway) sure you'll lose maybe 100 or so very highly paid bankers to the far east, but the uk will lose, what 20,000 'normal' employee's, who are too low on the ladder to be relocated, so will be on the dole, that 20,000 well paid people now claiming benefits and not earning, the knock on effect would effect many many more companies and people.
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Old 24.03.2011, 11:37
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Re: UK Budget 2011 & the mass exodus...

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Part of my point in this thread was to state 'WTF is there left?' in the UK if the bankers leave, rather than bash them... ...over the years the politicians have really messed a once great country!

And for the smokers there: 7 quid a packet to kill yourself!
Answer is theres F all left, it's all disappeared in several Cayman Islands bank accounts. (Not just bankers responsible for this) It's a complete rebuild from ground up job.

Basically a few individuals have raped the UK for everything it's got. About time to show them the door.

Oil/Gas for example. Compare how the UK used it's natural resources compared to NL or Norway.

Next moan outsourcing leeches selling public sector services..
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Old 24.03.2011, 11:40
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Re: UK Budget 2011 & the mass exodus...

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for one second put your hatred of bankers aside.

now consider this, an investment bank actually has very few 'bankers' most of the staff are back end, doing mundane things like IT, say HSBC leave london for Hong Kong (where the ceo is based anyway) sure you'll lose maybe 100 or so very highly paid bankers to the far east, but the uk will lose, what 20,000 'normal' employee's, who are too low on the ladder to be relocated, so will be on the dole, that 20,000 well paid people now claiming benefits and not earning, the knock on effect would effect many many more companies and people.
I doubt that 20k people out of working banking? Usual threats, what are the banks going to do find and train, 20k staff in HK? As has happened now the jobs will remain in the UK and the 100 or so leeches will be in HK.

If it happens it will be a slow drain and if anyone has any sense these service jobs need to be transformed into aerospace, engineering and science based jobs. High tech which can be sold for real profits and readdress the balance sheets.
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Old 24.03.2011, 11:45
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Re: UK Budget 2011 & the mass exodus...

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I doubt that 20k people out of working banking? Usual threats, what are the banks going to do find and train, 20k staff in HK? As has happened now the jobs will remain in the UK and the 100 or so leeches will be in HK.

If it happens it will be a slow drain and if anyone has any sense these service jobs need to be transformed into aerospace, engineering and science based jobs. High tech which can be sold for real profits and readdress the balance sheets.

simple, they outsource them, india, china, pakistan etc don't know what the off shore rules are in the far east, but they are bound to be more lax then england or here.

the mind set of "they can't leave" is far more dangerous to the UK then the bankers "greed is good"
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Old 24.03.2011, 11:59
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Re: UK Budget 2011 & the mass exodus...

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simple, they outsource them, india, china, pakistan etc don't know what the off shore rules are in the far east, but they are bound to be more lax then england or here.

the mind set of "they can't leave" is far more dangerous to the UK then the bankers "greed is good"
Erm I think you'll find they've already done that where possible. All about maximising profits.

To be honest I want them to leave, perhaps then people will wake up to what the UK really needs to do to be successful.

Really so you reckon the 100bn (+) bailouts are not dangerous? How many jobs do you think that's worth?

Last edited by Cata1yst; 24.03.2011 at 12:22. Reason: One more thought..
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Old 24.03.2011, 12:21
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Re: UK Budget 2011 & the mass exodus...

unfortunately no uk government ever looks beyond the next election, banking was a quick fix cash cow, everything else would have taken some effort and pain.
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Old 24.03.2011, 12:25
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Re: UK Budget 2011 & the mass exodus...

Well unfortunately it requires a clean slate, new thinking and less politicians with corporations in the back pocket.

I was thinking the few months I spent in the UK last year looking for work that I should create my own political party and take these on with similar minded individuals.
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