Re: Banks and insurers move £1 trillion of assets from UK to EU

Yes but we tend not to hold that against you ... er, them.


"The UK’s services industry returned to growth in March, with business activity, new orders and unemployment all rebounding from the previous month."
"The IHS Markit/Cips purchasing managers (PMI) index for services registered 56.3 in March"
"The figures show that the UK’s recovery is outpacing that of the Eurozone, which clocked a PMIs score of 49.6 this morning."
https://www.cityam.com/uk-pmis-servi...own-end-nears/

Re: Banks and insurers move £1 trillion of assets from UK to EU

The thing is, is that a lot of the EU will move parts of their financial services over here soon too.

Re: Banks and insurers move £1 trillion of assets from UK to EU

You mean that EU financial experts do better than local ones? Wow!

Re: Banks and insurers move £1 trillion of assets from UK to EU

That'll be why the UK sells so much more in financial services to the EU than the EU sells to us will it?

https://www.ukfinance.org.uk/press/p...nomic-recovery

Re: Banks and insurers move £1 trillion of assets from UK to EU

So by not granting british firms equivalence, we kick out the competition? Not beautiful, but effective, kicking out brits. (a bit reminiscent of brexit)

Re: Banks and insurers move £1 trillion of assets from UK to EU

Tut tut tut Solly.

You're letting your hatred of our country blind you to the facts.

"The UK is the world’s top net exporter of financial services, above the United States and Switzerland"

Re: Banks and insurers move £1 trillion of assets from UK to EU

Yes, the quote is quite true! And you stand to lose all that if the EU doesn't grant the UK equivalence. And even when it is given, it can be taken away on very short notice without right to appeal.

Re: Banks and insurers move £1 trillion of assets from UK to EU

From what you just said Solly,
EU is giving is giving equivalence then?
No need for the fishing extension anymore then eh ??

Donkeyman! 👍🤗👍

Re: Banks and insurers move £1 trillion of assets from UK to EU

I take it you’re self sufficient in power then

No equivalence granted yet but the did recently grant it to the yanks giving them the opportunity to poach some financial services from the UK

Re: Banks and insurers move £1 trillion of assets from UK to EU

Several remainers on this forum warned during the trade negotiations that it didn't cover services, and services are UK most important export item, with a positive trade deficit for the UK.
You can imagine the answer? Yep, project fear.

Now it turns out that indeed services are even more impoirtant than goods for the UK economy. But the EU is (again) holding all the cards.