Banks threatening to relocate

Not sure if anybody else has read this.

Banks poised to relocate after referendum result. Makes control and penalising the bankers somewhat harder if they're no longer under our jurisdiction.

More importantly isn't there something inherently unnerving about having one's money (not mine as I don't have enough to worry about), insurance, mortgage, loan, pension etc.. under the control of another nation state or if in the EU a super-nation state?

I guess we'll still have the nationalised Royal Bank of Scotland otherwise known as Royal Bank of Monumental FU.

http://www.bbc.co.uk/news/business-37743700

Re: Banks threatening to relocate

Surprise, surprise.

Re: Banks threatening to relocate

My thoughts exactly.

They'll probably relocate to Dublin under light legislation and tax favourable conditions.

Re: Banks threatening to relocate

Good riddance. They should be allowed to go. After soaking up the taxpayers cash in aid for their cockups, they, like they the rats they are desert us. The government should direct all their help to the starter banks, Metro etc and let them poach the business.

Re: Banks threatening to relocate

Let the banks go, its not as if we can stop them anyway, they are a law unto themselves and its not as if they have ( our ) best interests at heart, look at the interest rates since 07 now at an all time low,. one quarter of one percent, so if someone puts 1k in for twelve months you would get a return of £2.50.! .. not even a pint in a pub., you might as well put your money in premium bonds, or something else.. at least you have a slight chance of winning .

Re: Banks threatening to relocate

Wonder if some of them should be forced to pay back any bailout money they schmoozed off the tax-payer?

Re: Banks threatening to relocate

I see your point - any idea how we'd make up the £64b shortfall? Not sure the community banks will cut it somehow. It is the most lucrative industry in the country and love or loath we'd miss their contribution to the economy surely.

Re: Banks threatening to relocate

Good report on the Ferria show on LBC yesterday about this.

A city expert was asked and stated.

Reports were in 2 papers who were in the remain camp.

Another point that was stated for you lefties.

11% of all directed taxes raised were From the London Banks and the People who work for them.

You can download the Pod Cast at LBC.

Might stop you losers whinging about "O dear us poor tax payers had to bail out the banks" over 8 years ago.

You can go now go back to moaning about Peterloo or the Tollpuddle lot of lefties.

Re: Banks threatening to relocate

A lot have relocated already, they are now Curry Shops.

Re: Banks threatening to relocate

You only have to look at the origin of this statement to see its a poorly concealed attempt at blackmail. Even out of Europe the UK ( The City of London) will be the best place to do business. Dublin already faces threats from the EU over the way they tempted business to the country by the use of ridiculously low tariffs and unfair tax rates to the detriment of other EU countries.

Out of Europe we would, do be our own masters, free to set whatever terms of business we wished. I don't imagine the government would refuse to use low tax rates to temp the banks to stay, if indeed that's what we really want.

As for the new banks, I'm pretty sure they will up their game once the unfair competition from the big four disappears.

RBS, despite what you hear are making good progress. The problem for them is the compensation for the mis-selling scandals plus repaying taxpayers which is preventing them showIing a profit.