Amsterdam overtakes London as Europe’s leading financial hub

glasshalffull

Well-known member
7,000 jobs transferred from here to the EU already.
The trouble is as well it is in the EU’s interest not to negotiate with us on financial services.
 

Plumbs

Well-known member
Didn’t take long. Could have a big impact on our tax revenues I would think, unless it is just a temporary blip?
I think Layton will be overtaking London soon once we get the banks reopened, and a bigger park and ride at the station.

We've already beaten the Wombles culturally, morally and historically with the formation of one of the original community football clubs.

All they can offer is pie,mash and a team from Woolwich that plays in Barnet.
 

Alf

Well-known member
Funny, I’m not yet seeing this influx of English jobs in Amsterdam and boy I could use it!!
 

Tangojoe

Well-known member
That is like a yawn announcement. The reality is that the loss of employees from London to Amsterdam is a tiny fraction of that predicted by scaremongers and nine of the world’s largest asset managers have ramped up hiring in the UK since the brexit vote. In fact, Amsterdam, Paris and Frankfurt together don't command London's share of the financial markets.


 
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BigHandsOliverKahn

Well-known member
Having lost financial passporting where there had been no barriers to financial trades across 27 other countries, there have been appeals by the UK to grant it 'equivalence'. However, even that is a poor limited subset of financial services compared to passporting. It's another massive Brexit own goal and huge financial win for the EU. It feels like people have deliberately sabotaged their own country and now don't wish to read the uncomfortable truth.
 

TSSeasider

Well-known member
We only hear of the inevitably negative consequences to the UK.

I wonder what the negative consequences are to the EU, as there is going to be some (and I don't mean the nonsense about custard creams).

Perhaps our more gradual approach to the change is cushioning the impact for now; but at some point, it will hit.
 

20togo

Well-known member
Ok by me, you'll need something to do to forget the shitshow you voted for 👍
I've plenty to do thanks. If you want my advice, I'd try posting a bit more about football. That might help that heavy burden you carry round with you.
 

Kip

Well-known member
Just to point out the obvious but of course Amsterdam hasn't overtaken London as Europe's leading financial hub. I'm sure everybody knew that anyway but it's worth having at least one foot in the real world.

If it's helpful, the two largest financial centres in Europe are London and Zurich. Even Edinburgh is bigger than Frankfurt, Paris and Amsterdam.

I wouldn't worry about the City. It has more wealth, expertise and innovative drive than most European states never mind their financial centres. It also tends to act as a bellwether for other UK companies and the noises are they're already moving away from Europe and looking to grow elsewhere. I suspect that will happen to all companies over the next few years if the obstacles erected by the EU are too onerous to make it worthwhile.
 

Upwards

Well-known member
We only hear of the inevitably negative consequences to the UK.

I wonder what the negative consequences are to the EU, as there is going to be some (and I don't mean the nonsense about custard creams).

Perhaps our more gradual approach to the change is cushioning the impact for now; but at some point, it will hit.
And the grasping at straws whilst meaning absolutely nothing award is given to that last sentence. Hurray, clap, clap, clap.
 

Matesrates

Well-known member
Maybe the Eu should be careful what they wish for. The current rhetoric from both sides is of course to be expected and will increase as we near the end of March. Their concern, apparently, is that we could become Singapore on their doorstep, but if they push too hard, that’s quite possibly what will happen.
 

BigHandsOliverKahn

Well-known member
The Treasury expect a loss of £7 Billion in tax revenues by this loss of trade. Our EU membership net spend averaged £7.8 Billion over the last 5 years. So this single shift in trade from the UK to the EU has pretty much cost us the same amount as EU membership.
 

Merry Andrew

Well-known member
The Treasury expect a loss of £7 Billion in tax revenues by this loss of trade. Our EU membership net spend averaged £7.8 Billion over the last 5 years. So this single shift in trade from the UK to the EU has pretty much cost us the same amount as EU membership.

Meaningless really. German finance giant Allianz has reported that the EU's vaccine rollout is five weeks behind schedule and that the delay could cost the EU’s economy £80 billion.
 

tommytwojags

Well-known member

Trade volumes in London are 75 times larger than Amsterdam. Nothing to see here. Move along


You omitted to say that the UK has 43% of the global forex market, and this has increased by six percentage points in three years. The next highest is the US with 16.5% and declining, while the Asian centres of Japan, Hong Kong and Singapore have predominantly been static.
 

Bottle

Well-known member
How did we ever come to be so reliant on a “service” that doesn’t have factories, employs many workers, doesn’t produce anything physical that you can hold, sell, keep for sentimental reasons or treasure for reasons of aesthetics and is, to all intents and purposes a great big betting shop.

How come it has such a big hold on the economy - though it does pay taxes (sometimes) but is open to all kinds if insider dealing, corruption and downright cheating - never was a more apt saying than “know the value of everything and the worth of nothing” - money for old rope as long as you know the right people innit!
 

Wizaard

Well-known member
How did we ever come to be so reliant on a “service” that doesn’t have factories, employs many workers, doesn’t produce anything physical that you can hold, sell, keep for sentimental reasons or treasure for reasons of aesthetics and is, to all intents and purposes a great big betting shop.

How come it has such a big hold on the economy - though it does pay taxes (sometimes) but is open to all kinds if insider dealing, corruption and downright cheating - never was a more apt saying than “know the value of everything and the worth of nothing” - money for old rope as long as you know the right people innit!
Welcome to the legacy of Thatcherism
 

Certitude

Well-known member
Herein lies the problem, from those who are intolerant of others political opinions.
The posts above happen to be from the left types who are completely intolerant of those they disagree with politically - They can’t even bring themselves to have an air of balance.

I could ask them to read my views on Putin, privatisation, Trump, Scottish Independence as just a few quick examples... But the intolerant types won’t acknowledge balance and differing political mindsets.

Far right, far left - peas in a pod, in terms of their intolerance/ignorance of those who don’t have such blinkered political views, as they do.

You’ll also find that when you give them examples/evidence you’re not what they accuse you of, their intolerance hardens and abuse/hounding sadly follows.

All a bit sad really, but not unusual behaviour on political forums.
 

Tangojoe

Well-known member
According to a Freedom of Information request by financial regulatory consultancy Bovill, 1441 EU-based financial services firms have applied for permission to operate in the UK, with two thirds of these planning to establish their first office in the UK. The firms applied to the Temporary Permission Regime, with 83% of these on a services passport, meaning they would need to set up an office in the UK for the first time. The countries from which the largest number of firms have applied are Ireland, France and Germany, which together account for over a third of the firms on the TPR.
 
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glasshalffull

Well-known member
According to a Freedom of Information request by financial regulatory consultancy Bovill, 1441 EU-based financial services firms have applied for permission to operate in the UK, with two thirds of these planning to establish their first office in the UK. The firms applied to the Temporary Permission Regime, with 83% of these on a services passport, meaning they would need to set up an office in the UK for the first time. The countries from which the largest number of firms have applied are Ireland, France and Germany, which together account for over a third of the firms on the TPR.

Good 👍.
 
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