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World Bank: UK 7th best place to do business Watch

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    Better than any eurozone country (Belgium in 52nd place), things are looking very good for the UK, despite what the media may try to say to discredit brexit. Plus manufacturing is up according to the IHS Markit index.

    http://www.doingbusiness.org/~/media...ull-Report.pdf
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    True. But it isn't the media that are threatening to move their offices / staff to Europe. And it isn't the media that are holding back on investment in manufacturing due to uncertainty. Let us not forget - we haven't left the EU yet. Of course we are 7th best place to trade in the world - we have free and unlimited access to the world's biggest and richest market place..... for now.
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    (Original post by Hatter_2)
    Better than any eurozone country (Belgium in 52nd place), things are looking very good for the UK, despite what the media may try to say to discredit brexit. Plus manufacturing is up according to the IHS Markit index.

    http://www.doingbusiness.org/~/media...ull-Report.pdf
    My understanding is that the report is very narrow and rates business regulation and avoids the wider economic aspects such as political and economic environment.

    Its also based on Britain as being in the EU and does not take into account Brexit.


    Doing Business measures aspects of business regulation and their implications for firm establishment and operations. It does not include all the issues that are relevant for businesses’ decisions, but it does cover important areas that are under the control of policy makers.

    Light regulation can be good, but it isnt a given its the best place to be in business.
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    (Original post by ByEeek)
    True. But it isn't the media that are threatening to move their offices / staff to Europe. And it isn't the media that are holding back on investment in manufacturing due to uncertainty. Let us not forget - we haven't left the EU yet. Of course we are 7th best place to trade in the world - we have free and unlimited access to the world's biggest and richest market place..... for now.
    It's a declining part of the world economy but only called the largest as 28 states are grouped into an effective superstate (if you look at GDP per capita it is 45th). We can go global and trade more freely with the world (and hopefully still the EU if Barnier and Juncker start putting their citizens above the project) and also deregulate.

    Uncertainty is a problem, the government really needs to get on with deciding and negotiating the future conditions so everyone has an idea and can plan. Despite this, since the referendum manufacturing has been booming, and investment has continued as before.

    There may be some in banks and financial services who move to set up an EU base and reduce their UK presence. It may be slightly tough initially, but the general view is we will continue being a strong place for business (interest rates may rise tomorrow) and have the opportunity to become more competitive.
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    (Original post by Hatter_2)
    Uncertainty is a problem, the government really needs to get on with deciding and negotiating the future conditions so everyone has an idea and can plan. Despite this, since the referendum manufacturing has been booming, and investment has continued as before.
    Do you really think this government has what it takes to negotiate one of the most complex deals that will ever be negotiated?

    And as said before - nothing has changed since the referendum. And investment is down. Why would you choose to invest in something that could be undone if your European based supply chain is suddenly thwarted by future tariffs and customs inspections?
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    (Original post by ByEeek)
    Do you really think this government has what it takes to negotiate one of the most complex deals that will ever be negotiated?

    And as said before - nothing has changed since the referendum. And investment is down. Why would you choose to invest in something that could be undone if your European based supply chain is suddenly thwarted by future tariffs and customs inspections?
    No, I think the government is incompetent (although David Davis is the right man but not being allowed to direct negotiations) and they are simply appeasing the EU rather than making the case for trade and letting the EU announce if it is going to impede trade between us considering they have a trade surplus. We have a very strong hand because walking away with no deal is better than our current arrangement.


    That's why we need certainty, tariffs aren't actually that large (on average less than monthly currency fluctuations) there may well be some loss of investment but that could be replaced by more from around the world.
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    (Original post by Hatter_2)
    We have a very strong hand because walking away with no deal is better than our current arrangement.
    This is an argument I just do not understand. Put immigration to one side just for one moment. How is no deal better than the current arrangements? How is the removal of access to our biggest market overnight going to make things better?

    Wake up and smell the coffee. People's wallets are now being squeezed as the result of a weak pound. I note that gas, electricity and water are all more expensive this year compared to last and food and clothes have definitely increased in price despite retailers taking the hit in the form of lower profits. And to add to it all, the BofE has just increased interest rates further putting on the pressure on home owners, many how have borrowed to the hilt on risky tracker mortgages.

    We ain't seen nothing yet - and idiots like you are suggesting that cutting ties with our largest market (declining or not) is a good thing. What planet do you live on? The planet of mum and dad?
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    (Original post by ByEeek)
    This is an argument I just do not understand. Put immigration to one side just for one moment. How is no deal better than the current arrangements? How is the removal of access to our biggest market overnight going to make things better?

    Wake up and smell the coffee. People's wallets are now being squeezed as the result of a weak pound. I note that gas, electricity and water are all more expensive this year compared to last and food and clothes have definitely increased in price despite retailers taking the hit in the form of lower profits. And to add to it all, the BofE has just increased interest rates further putting on the pressure on home owners, many how have borrowed to the hilt on risky tracker mortgages.

    We ain't seen nothing yet - and idiots like you are suggesting that cutting ties with our largest market (declining or not) is a good thing. What planet do you live on? The planet of mum and dad?

    Don't insult me because you've lost the debate. If you really think more than 17 million people are idiots and you are intellectually superior its no wonder you are making so little sense.


    The UK is the EU's biggest market, they would be losing it as well (and we have a trade deficit meaning we would benefit from tariffs more than the EU). The only reason it is such a big part of our trade is because for the past 30 years we have been locked into a protectionist club (where we were forced to betray the Commonwealth) which puts regulation over competition.

    Our current situation involves paying net budget contributions more than tariffs of trade if we went back to WTO rules (the no-deal scenario). And our exchequer would benefit from the equal tariffs we place on the EU (although I would prefer free trade).

    The EU need €60bn each year simply to pay their bureaucrats and keep the Brussels machine running. They are terrified of the gap if the UK leaves paying nothing (by no-deal). And we have the opportunity to regulate our own industries more sensibly and manage our own trade with the world. I don't know your motivation for being such a europhile but it isnt genuinely about the economy unless you can only see things the way you want them to be.

    If you want the pound to be stronger, you would support increasing interest rates (by the way to the same level we had until 2016). Anyway, if the pound had continued declining at the same rate from 2014 to 2016 it would be lower now than it currently is, so blaming that on brexit is nonsensical.

    Food and clothes can be considerably cheaper post-Brexit once we manage our own customs and remove the EU's protectionist tariffs on textiles and agriculture.
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    (Original post by Hatter_2)
    If you really think more than 17 million people are idiots and you are intellectually superior its no wonder you are making so little sense.
    Not idiots perhaps. I'll take that one back. But certainly very much uninformed. £350 million a week for the NHS - yeah right! I also think many people voted to reduce immigration forgetting of course that it is immigrants that keep the things we love not to do like the NHS, plumbers and cafes ticking over.

    (Original post by Hatter_2)
    The UK is the EU's biggest market,
    This is indeed true. But the UK isn't the biggest market for any specific country in the EU. Internal trade accounts for much more. We stand to lose more than any specific EU country.

    (Original post by Hatter_2)
    Our current situation involves paying net budget contributions more than tariffs of trade if we went back to WTO rules (the no-deal scenario). And our exchequer would benefit from the equal tariffs we place on the EU (although I would prefer free trade).
    Agreed. But this is being paid by our government out of taxation. Tariffs would be paid by companies and individuals. The savings the government makes will simply get absorbed that the deficit or the UK government may choose to spend some of that money on the things the EU currently spend.

    (Original post by Hatter_2)
    The EU need €60bn each year simply to pay their bureaucrats and keep the Brussels machine running.
    I am sure you have done your research. And as we speak, the government has announced the creation of 1500 jobs to help with Brexit including civil servants and customs etc. The glut of the EU will simply move to Whitehall with duplication of many things done by the EU being brought to the UK. And who will be paying for all those extra civil servants - you and I. I would be amazed if the net gain is anything like what we currently spend on the EU even before you take into account the additional red tape businesses will have to incur once they can no longer trade with the EU as if it was next door.

    (Original post by Hatter_2)
    Food and clothes can be considerably cheaper post-Brexit once we manage our own customs and remove the EU's protectionist tariffs on textiles and agriculture.
    How? We already import most of our clothes from China, India and Bangladesh. The EU has nothing to do with that. The price has gone up because of the weakening of the pound which will only continue as we become less significant in the world, no longer having influence over the EU. By contrast, food prices will go up because the EU provides much of our food imports. In the future this will be subjected to tariffs if no deal is done.
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    (Original post by ByEeek)
    many people voted to reduce immigration forgetting of course that it is immigrants that keep the things we love not to do like the NHS, plumbers and cafes ticking over.
    Most people did not forget that, we still had plumbers and cafes and the NHS running pre-2000. And immigration will still continue (in fact we can decide more which skills are most beneficial rather than accepting any EU national who wants to come).

    Time limited work permits are also sensible, it just means not everyone who comes here initially to work has the unrestricted right to settle and access public services. The pace of overpopulation is a big concern to lots of people.


    Tariffs would be paid by companies and individuals. The savings the government makes will simply get absorbed that the deficit or the UK government may choose to spend some of that money on the things the EU currently spend.
    It could be passed on somewhat through tax breaks, and we're talking about the net contributions on the assumption all "EU funding" continues.


    How? We already import most of our clothes from China, India and Bangladesh. The EU has nothing to do with that.
    Unfortunately it does, it puts very high tariffs on these products, far more than the slight devaluation of the pound. The day after we leave we could set as many of these to 0% as we like, and reduce household bills very significantly.

    If you are interested you can look at some of the EU tariffs set on third countries here, although you will have to choose products somewhat at random http://madb.europa.eu/madb/euTariffs.htm


    By contrast, food prices will go up because the EU provides much of our food imports. In the future this will be subjected to tariffs if no deal is done.
    Everyone knows that food in the EU isn't produced at a competitive price (with a few exceptions). Farms require subsidies and that's the reason why external tariffs don't allow the rest of the world access on a level playing field.
 
 
 
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