Brexit - The UK referendum on leaving the EU - Reneging, reshmeging!

[Total Power]

Apparently it's project fear! why doesn't the UK government hire Garage to comfort airbus and tell them how their analysis is wrong. But but but WTO rules is the saviour haven't you heard, despite Toyota, Nissan and several other industry leaders warning WTO rules is not going to cut it. Brexiters, it's time to let go of your fantasy.


According to Royal Aeronautical society the aerospace cost alone will be 4.1 billion pounds.

If you repeat a lie a 100 times, it doesnt become truth



https://jerseyeveningpost.com/news/...t-could-quit-uk-if-there-is-a-no-deal-brexit/

Tom Williams, the chief operating officer of Airbus Commercial Aircraft, said: “In any scenario, Brexit has severe negative consequences for the UK aerospace industry and Airbus in particular.

“Therefore, immediate mitigation measures would need to be accelerated.

“While Airbus understands that the political process must go on, as a responsible business we require immediate details on the pragmatic steps that should be taken to operate competitively.

“Without these, Airbus believes that the impacts on our UK operations could be significant.

“We have sought to highlight our concerns over the past 12 months, without success.

“Far from Project Fear, this is a dawning reality for Airbus.

“Put simply, a no-deal scenario directly threatens Airbus’ future in the UK.”

In its risk assessment, Airbus says it is “getting increasingly concerned by the lack of progress on the Brexit process”.


It says it supports more than 110,000 jobs among 4,000 suppliers in the UK, with parts crossing the Channel “multiple times”.

 

[medusala]

Apparently it's project fear! why doesn't the UK government hire Garage to comfort airbus and tell them how their analysis is wrong. But but but WTO rules is the saviour haven't you heard, despite Toyota, Nissan and several other industry leaders warning WTO rules is not going to cut it. Brexiters, it's time to let go of your fantasy.
imes”.

humour. The UK could pay ALL the tariffs on behalf of the car industry post brexit under WTO and STILL be ahead as it would no longer have to pay 80% of tariff revenue to the EU

Very simple.

 

[donkeypunchd]

Economics are one thing but indications are that inter island political relationships are starting to break down. Bertie Ahern, the former Taoiseach responsible for signing the GFA (and considered, incorrectly in my view for his personal corruption and economic mismanagement, as an elder statesman of Irish politics) came out swinging today, with a personal attack on Boris Johnson. Such rhetoric would have been unthinkable a year or so ago when inter-governmental relationships were at a historic peak. The concern now in Dublin is that Ireland will be strong armed into a deal that’s contrary to our interests by a combination of EU pressure and UK double dealing (ie sacrificing Irish and Northern Irish interests to secure a deal). Indications are now that the Irish government will be forced into exercising its veto against UK proposals to try and protect Irish national interests.

 

[Total Power]

humour. The UK could pay ALL the tariffs on behalf of the car industry post brexit under WTO and STILL be ahead as it would no longer have to pay 80% of tariff revenue to the EU

Very simple.

Hang on, werent you in favour of dropping all tariffs? so where does all the tariff revenue is going to come from??

 

[donkeypunchd]

Some more research o the folly of Brexit has been released today- a hard border is likely to imperil 30% of the Northern Irish export economy. Even worse, a large percentage of that same trade is freighted South for cross-channel export through Dublin’s port facilities and to avail of tax. A collapse of the Northern Irish economy is not beyond the bounds of possibility if a backstop is not agreed on, which at the very least will require heavier subventions from Westminster. Not quite the ‘Brexit Dividend’ Boris & co promised.

https://www.irishtimes.com/news/ire...on-trade-with-the-republic-1.3539430?mode=amp

 

[Total Power]

Economics are one thing but indications are that inter island political relationships are starting to break down.

I agree but i own a small medium sized company with significant exposure to UK. Yesterday i attended a conference of SMEs in stockholm, where there were more small business owners from UK and from the EU expressing their concerns about customs declaration and delays. Most of them are small time importers/exporters who are exporting goods with shelf life of 3-5 days.Preparing customs declarations for such companies (plant and animal inspection) is not only an expensive issue, it also knocks off atleast a day of shelf life from all custom delays. It's one to discuss this from a political angle without having a stake in it but this is going to impact us business owners directly ,mostly for the negative. After speaking with my lawyers if UK indeed decides to leave the customs union, the cost to my company will be quite significant (i don't want to disclose details on a public forum but happy to do so in PM) as it will be for any company in the UK. Bigger companies can get away with this as they will have prior customs arrangements in place.

And i am not even talking about tariffs.

 

[Todman]

https://www.express.co.uk/news/poli...byn-labour-momentum-Labour-for-a-Peoples-Vote

JEREMY Corbyn is under pressure from members of his own Momentum grassroots campaign to defy the will of the people and back a second referendum by an anti-Brexit group who are calling for the election of a “radical Labour government”.
l
Members of hard-left group Momentum are among those urging the Labour Party to steer away from a "kamikaze" Tory Brexit by supporting a "people's vote" on the final deal with Brussels

The group argue that "the effects of Brexit would make the prospects for a socialist Labour government much worse".

hmm, Corbyn wants to re-nationalize certain industries, illegal within the EU.

 

[Total Power]

Make sure to send the bill to the brexiters, morons like Garage should get the investment, if no one else is available his bum buddy Trumpf is always there. Great job, i am sure brexshitters will blame the EU for this too




Investment in Britain's car industry has fallen by half, according to figures from the motoring sector.

The Society of Motor Manufacturers & Traders (SMMT) said that Brexit uncertainty was "thwarting" decisions by major car companies to put more money into UK factories.

In the first six months of 2017, investment in new models and factory improvements stood at £647.4m.

This year, the figure had fallen to £347.3m for the same period.

The SMMT said this was lowest figure since the financial crisis.

https://www.cnbc.com/2018/06/26/smm...brexit-customs-union-must-stay-for-car-i.html

SMMT clearly stated it wants UK to stay in the customs union, this comes from society of agriculature, wholesale and retail also saying the same thing. But hey what would they know, lets consult Garage an ex snake oil salesman first.

 

[Bomberboyokay]

Rumours swirl that the civil service has the Cabinet softened up for major concessions. But it is hard to imagine that they could move anywhere close to where they need to be. Preventing a border in the Irish Sea requires a new customs union and something which is basically single market membership in all but name, probably with job-offer contingent free movement. Anything like that seems hard to envisage. But anything that isn't that would put the border in the Irish Sea, which is also hard to envisage. It is a room full of spikes and there are no doors.

While the Brexit issue goes on life-support, May's Cabinet have been stabbing away at each other with considerable gusto. Gavin Williamson and Boris Johnson are attacking Philip Hammond and Theresa May. The defence secretary is building a new career in which he plays the roles of various imaginary friends all telling journalists about how tough he is.

Liz Truss, who is somehow chief secretary to the Treasury in this new mediocrity hellscape we've crafted, shot back at Boris Johnson with all the force and gravitas of a stale banana. Business secretary Greg Clark is doing the same behind the scenes. The Tory foreign secretary, in a development which must surely indicate something important about the historical moment we're living in, said "f*** business" without any consequence to his job whatsoever. The more you think about that the more extraordinary it becomes.

It's hard to see the prime minister being able to get all these guys on board with anything. She hasn't the authority and she hasn't really put in the work preparing Brexiters for the sacrifices that are to come. Perhaps there is some previously unrevealed tactical brilliance in her which will come alive at the last minute, but for now there is no evidence of it.

http://politics.co.uk/blogs/2018/06/29/week-in-review-quick-reminder-that-everything-is-still-a-dis

 

[medusala]

A collapse of the Northern Irish economy is not beyond the bounds of possibility if a backstop is not agreed on, which at the very least will require heavier subventions from Westminster.

Absolute piffle.

 

[medusala]

SMMT clearly stated it wants UK to stay in the customs union, this comes from society of agriculature, wholesale and retail also saying the same thing. But hey what would they know, lets consult Garage an ex snake oil salesman first.

Retail? like Dyson and Wetherspoon? The CBI only represents the big end of town, its the same muppet organisation that wanted to join the EURO

Letter in the FT

We are a 95 per cent export manufacturer of high tech instrumentation, so we have a lot of experience in overseas trade. On May 24 the head of HM Revenue & Customs estimated that post-Brexit, import-export may cost industry £20bn extra at UK borders. With £10m of exports, 75 per cent outside the EU, and £1.5m of imports, 85% non-EU, we are in a good position to give a realistic figure for these costs.

All imports enter under Inward Processing Relief, and no taxes are paid at the border. Goods may remain in the UK for up to nine months free of duty and value added tax. Duty and VAT become payable if the goods are sold within the EU, but not if they are exported outside. When we sell our equipment to a Japanese company, we invoice free of VAT as an export. It collects ex-works and delivers worldwide, sometimes direct to a customer within the EU. It will invoice without VAT as, being based in Japan, it is not VAT registered. It is that company’s customer who must record and pay VAT, on the basis that it is an import even though the goods may have crossed no frontiers.

Our VAT and tax returns are made on a monthly and quarterly basis, with payment by direct debit. Every two to three years, HMRC audits our record-keeping. Maintaining this system requires a skilled person for one or two days a week — at a £50 hourly rate for 500 hours per year, the annual cost is £25,000. We also employ shipping agents at a £70,000 annual cost, of which over 90 per cent is transport charges. Our cost for import-export paperwork is about £32,000.

Our largest tax is the 20 per cent VAT charged on importing goods from the EU, just as from the US or Japan. This will not change after Brexit, although there may be a 3-5 per cent duty if no deal is done. The cost in additional paperwork will therefore be no more than 10 per cent of the present £32,000. We will incur an average 4 per cent duty on our £225,000 of EU imports, but will recover 95 per cent of this on exporting, so duties will cost the company about £500. Assuming we do business with the EU on terms no worse than the rest of the world, the cost will be around £3,700, or 0.04 per cent of our £10m turnover. Compared to currency exposure where rates can change by 1 per cent daily, this is a negligible figure, so Brexit on any terms will not change our business.

Jeremy Good
Director, Cryogenic Ltd, London W3, UK

 

[Total Power]

Retail? like Dyson and Wetherspoon? The CBI only represents the big end of town, its the same muppet organisation that wanted to join the EURO

Letter in the FT

We are a 95 per cent export manufacturer of high tech instrumentation, so we have a lot of experience in overseas trade. On May 24 the head of HM Revenue & Customs estimated that post-Brexit, import-export may cost industry £20bn extra at UK borders. With £10m of exports, 75 per cent outside the EU, and £1.5m of imports, 85% non-EU, we are in a good position to give a realistic figure for these costs.

All imports enter under Inward Processing Relief, and no taxes are paid at the border. Goods may remain in the UK for up to nine months free of duty and value added tax. Duty and VAT become payable if the goods are sold within the EU, but not if they are exported outside. When we sell our equipment to a Japanese company, we invoice free of VAT as an export. It collects ex-works and delivers worldwide, sometimes direct to a customer within the EU. It will invoice without VAT as, being based in Japan, it is not VAT registered. It is that company’s customer who must record and pay VAT, on the basis that it is an import even though the goods may have crossed no frontiers.

Our VAT and tax returns are made on a monthly and quarterly basis, with payment by direct debit. Every two to three years, HMRC audits our record-keeping. Maintaining this system requires a skilled person for one or two days a week — at a £50 hourly rate for 500 hours per year, the annual cost is £25,000. We also employ shipping agents at a £70,000 annual cost, of which over 90 per cent is transport charges. Our cost for import-export paperwork is about £32,000.

Our largest tax is the 20 per cent VAT charged on importing goods from the EU, just as from the US or Japan. This will not change after Brexit, although there may be a 3-5 per cent duty if no deal is done. The cost in additional paperwork will therefore be no more than 10 per cent of the present £32,000. We will incur an average 4 per cent duty on our £225,000 of EU imports, but will recover 95 per cent of this on exporting, so duties will cost the company about £500. Assuming we do business with the EU on terms no worse than the rest of the world, the cost will be around £3,700, or 0.04 per cent of our £10m turnover. Compared to currency exposure where rates can change by 1 per cent daily, this is a negligible figure, so Brexit on any terms will not change our business.

Jeremy Good
Director, Cryogenic Ltd, London W3, UK

a japanese company between cryogenic and its EU client -and no one paying VAT ? surely unfair for EU competitors: Curious to check in in a year or two - for EU clients.

But how nice that you quote FT when it suits you orelse you go "lol FT".

https://uk.reuters.com/article/uk-b...nbeat-on-brexit-deloitte-survey-idUKKBN1JR29G

A record 75 percent of major British companies are now pessimistic about Brexit, a survey showed on Monday, adding to signs of anxiety around the economy as Britain’s divorce with the European Union draws near.

Disclaimer:
The Deloitte survey took place between June 3 and June 14, with 103 CFOs, including 20 executives from FTSE 100 companies and 45 from the FTSE 250 group, taking part.

 

[John H]

Putin's built "constructive partnerships" with the far-right worldwide.

Evidence Mounts That Russia Covertly Swayed Brexit Just Like the U.S. Election

https://www.alternet.org/news-amp-p...ussia-covertly-swayed-brexit-just-us-election

 

[John H]

The Brexiteers of May's Tories and Corbyn's Labour, who ally with Putin-friendly fascists, at home and abroad, will surely embrace Trump as one of ther own.

Tories in European Parliament alliance with Swedish far right party

https://www.telegraph.co.uk/politic...-parliament-alliance-swedish-far-right-party/

 

[Total Power]

Amazing how Brexshitters seem to know how it's going to impact companies more than the CEO's themselves. Lets add all the costs up, why dont we? in the end they will save nothing and yet idiots like Garage will keep earning from the same institution they pretend to hate in public.


ihttps://www.politico.eu/article/jaguar-land-rover-hard-brexit-would-cost-1-2-billion/

A hard Brexit leading to trade under World Trade Organization rules would cost Jaguar Land Rover £1.2 billion a year in tariffs, its Chief Executive Ralf Speth told the Financial Times.

He said the company, which is the U.K.’s largest car manufacturer, needs certainty about the post-Brexit trading regime before it can decide on £80 billion in investment over five years in new models.

 

[checkraiseulite]

i love how the left now trusts ceos when it seems to suit them.

 

[Bomberboyokay]

Looks like the UK has chosen soft Brexit if the EU will give it to them. Had to laugh at May telling the EU "to get serious". Her ****ed up government is indistinguishable from satire.

 

[The Speaker]

Looks like the UK has chosen soft Brexit if the EU will give it to them. Had to laugh at May telling the EU "to get serious". Her ****** up government is indistinguishable from satire.

A satirical government would at least have a purpose.

 

[CakeEater]

3/5 EU ministers including Davis have resigned due to irreconcilable differences with the Negotiation strategy.

 

[Mofra]

3/5 EU ministers including Davis have resigned due to irreconcilable differences with the Negotiation strategy.

May is lurching from disaster to disaster.
This is what happens when nationalism trumps common sense.

 

[donkeypunchd]

Would have to think May is finished on this evidence. Tory Brexiteers seem hell bent on a hard Brexit, what they can’t seem to fathom is that the very idea of Jacob Rees-Mogg imposing a hard border on the island of Ireland is a massive propaganda victory for Irish republicans.

Mogg and Davis are both openly hostile to the GFA and Irish interests, the prospect of them taking control of the Tory party is a nightmare for Unionism and I think the DUP will look for an out from their supply & confidence arrangement if May is deposed.

 

[Chief]

3/5 EU ministers including Davis have resigned due to irreconcilable differences with the Negotiation strategy.

The Brexit Bulldog gone???

Dead Ringers will be much poorer for it.

 

[Messenger]

Circular firing squad.

 

[The Speaker]

May is lurching from disaster to disaster.
This is what happens when nationalism trumps common sense.

wut

As has been pointed out multiple times, the government (cabinet+civil service) have had no interest in actually leaving the European Union. That is the opposite of nationalism.

 

[NSWCROW]