Re: Brussels humiliated as Brexit Britain retains top spot for start-up investments
Originally Posted by Zaphod
As per title:
Brussels humiliated as Brexit Britain retains top spot for start-up investments
"BREXIT Britain remains the number one country for investments in start-ups despite predictions the departure from the EU would have catastrophic effects for the UK."
"According to the latest annual barometer of the EY firm published today, €39billion (£34billion) was invested in 2020 in European start-ups. The amount is up 17 percent compared to 2019. And in a blow to those who predicted a catastrophe for the UK after Brexit, the report found that more than one in three investments were made into British and UK-based start-ups."
One in three!
With over £12 billion of that £34 billion (over a third you will note) being invested in the UK!
That's why the resident EUrophiles here are so vocal; they hate to see the UK doing well while they languish in the doldrums.
The Express is only purveying the news BTW, it doesn't invent it.
So to use football parlance, play the ball and not the player with your replies.
Well, zappy, I did as you suggested, so I looked for todays publication of Ernst & Young's barometer. Alas, I couldn't find it. Except this: https://www.ey.com/en_nl/ccb
Is it imaginable that the DE has misquoted another report?
I did find this EY report https://www.ey.com/en_uk/news/2021/0...deal-are-small
EY Financial Services Brexit Tracker: UK Financial Services Firms continue to incrementally move assets and relocate jobs to the EU, but changes since the Brexit deal are small
With these quotes:
- 43% (95 out of 222) of Financial Services Firms* have moved or plan to move some UK operations and/or staff to Europe, taking the total number of Brexit-related job moves to almost 7,600, up from 7,500 in October 2020*
- Dublin and Luxembourg remain the most popular EU destinations for staff relocations, new European hubs or office relocations*
- More than a quarter (26% and 57 out of 222) of UK Financial Services Firms have articulated the negative financial impact Brexit is having or will have on their business
- Since late December 2020, four global asset managers and six investment and retail banks have called for greater clarification over the UK’s future relationship with the bloc*
- Since the Referendum, 24 Financial Services Firms have publicly declared they will transfer almost £1.3trn of UK assets to the EU*
UK Financial Services Firms continue moving jobs and assets to the EU, while calling on the Government to ensure the UK maintains a cooperative trading relationship with the bloc. According to the latest data from the EY Financial Services Brexit Tracker, 43% (95 out of 222) of Financial Services Firms have publicly stated they have moved or plan to move some UK operations and/or staff from the UK to Europe, taking the total number of job relocations since the EU Referendum to almost 7,600, up from 7,500 in October 2020.*
Migration of UK assets to Europe reaches almost £1.3trn
Twenty-four of the largest Financial Services Firms (ten banks, nine insurance providers, and five wealth and asset managers) have so far transferred or announced an intention to transfer assets out of the UK to Europe due to Brexit. Not all Firms have publicly declared the value of the assets that could be transferred but, of those that have, EY’s Financial Services Brexit Tracker estimates the figure to be almost £1.3 trillion, up from £1.2 trillion in October 2020.
Omar Ali, EMEIA Financial Services Managing Partner for Client Services at EY, comments: “Financial Services Firms across Europe have a number of chapters still to write before they can close the book on Brexit. After the major hurdle of standing up new EU hubs, the days of significant swathes of asset and job relocation announcements appear to have passed and will likely be replaced by the slower yet ongoing movement of people and assets to Europe for compliance purposes.*