Dozens of UK banks and financial firms 'looking at moving to Ireland'

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tahiti

25-12-2016

Quote:
“
Head of agency tasked with attracting foreign investment to Ireland says City corporations are interested in relocating

Banks and financial institutions make up the overwhelming majority of more than 100 companies inquiring about relocating to Ireland after Brexit, the head of the agency tasked with bringing foreign investment into the republic has confirmed.

Martin Shanahan, the chief executive of the Industrial Development Agency (IDA), said many of the corporations looking to move were based in the City of London.

Shanahan said that while Ireland would try to make capital out of the UK voting to leave the EU, Brexit was not the outcome he or anyone else in Ireland favoured.

He also said the IDA did not fear a Trump presidency would shut down American multinational investment into Ireland.

The IDA has a target to create an extra 80,000 jobs in the country by 2019, many of them from new US firms setting up their European base in Ireland.

Shanahan told the Guardian that Ireland’s low 12.5% corporation tax remained sacrosanct as one of the Irish Republic’s key fiscal policies.

Ireland will be the only English speaking country left in the EU after Brexit, giving Shanahan and his IDA colleagues extra impetus in their attempts to woo companies, some of which are based in the UK.

He said: “We have seen a huge increase in the amount of inquiries and activities across the globe. It’s not just our office in London, or our office in Dublin; we are receiving inquiries in Asia, in the US, in New York in particular. The figure that we have used to date is over 100 related inquiries.”
”

https://www.theguardian.com/world/20...moving-ireland

A referendum on the exit terms in a couple of years will kill off Brexit

burneside

25-12-2016

What makes you think there will be any such referendum?

tahiti

25-12-2016

Originally Posted by burneside:
“What makes you think there will be any such referendum?”

because we , the 48 % will ask for one .. along with quite a few Leave voters, who - when recently polled by YouGov - stated that they would be unwilling to be even 100 pounds worse off a year as a result of Brexit.

I think it would be a lot worse than 100 pounds a year for quite a few of them actually.

Neppy

25-12-2016

Originally Posted by tahiti:
“because we , the 48 % will ask for one .. along with quite a few Leave voters, who - when recently polled by YouGov - stated that they would be unwilling to be even 100 pounds worse off a year as a result of Brexit.

I think it would be a lot worse than 100 pounds a year for quite a few of them actually.”

Deluded, even on Christmas.

tahiti

25-12-2016

Originally Posted by Neppy:
“Deluded, even on Christmas. ”

bored with democracy ?

Neppy

25-12-2016

Originally Posted by tahiti:
“bored with democracy ?”

No. I'm not the person wanting another vote because the outcome wasn't what I wanted.

tahiti

25-12-2016

Originally Posted by Neppy:
“No. I'm not the person wanting another vote because the outcome wasn't what I wanted. ”

we voted on the exit terms ? when ? must have missed that one.

allaorta

25-12-2016

Originally Posted by tahiti:
“we voted on the exit terms ? when ? must have missed that one.”

You miss most things.

Doctor_Wibble

25-12-2016

Right so someone in charge of getting businesses to be interested in moving to Ireland says 'businesses are interested in moving to Ireland, lots of people are doing it, brilliant idea come along, all welcome', what an incredible totally off-the-wall thing for such a person to say

burneside

25-12-2016

You can ask all you like, but you are going to be very disappointed. It's not even certain that MPS will get a vote on the exit terms.

platelet

25-12-2016

Originally Posted by tahiti:
“
A referendum on the exit terms in a couple of years will kill off Brexit ”

A referendum in a couple of years will be irrelevant. Most of the jobs that are going to move will have been migrated by then

ireland2day

25-12-2016

Originally Posted by Doctor_Wibble:
“Right so someone in charge of getting businesses to be interested in moving to Ireland says 'businesses are interested in moving to Ireland, lots of people are doing it, brilliant idea come along, all welcome', what an incredible totally off-the-wall thing for such a person to say ”

Corporation tax receipts soaring in Ireland.
FDI couldn't be stronger, Mr Shanahan is doing a fantastic job.
Recently saw him being interviewed on all the major American TV networks playing a blinder to get even more American companies to move to Ireland, playing the Brexit card so well.

swingaleg

25-12-2016

All these financial companies could just re-locate to Jersey and Guernsey

They both have full 'third party status' agreements with the EU which will not be affected by the UK leaving

They have access to the single market and all the advantages of being tax havens

Dacco

25-12-2016

Originally Posted by tahiti:
“https://www.theguardian.com/world/20...moving-ireland

A referendum on the exit terms in a couple of years will kill off Brexit ”

BIB, it won't, merry Christmas........

jmclaugh

25-12-2016

I did enquire at my local branch and they said while they may be popping some corks over the festivities they had no intention of moving there.

Eurostar

25-12-2016

Originally Posted by swingaleg:
“All these financial companies could just re-locate to Jersey and Guernsey

They both have full 'third party status' agreements with the EU which will not be affected by the UK leaving

They have access to the single market and all the advantages of being tax havens”

I think the point would be that Dublin has a large financial services centre in the Docklands area with plenty of office space plus a well educated and available workforce. I'm not sure Jersey or Guernsey could offer anything like that.

Miasima Goria

25-12-2016

Originally Posted by Eurostar:
“I think the point would be that Dublin has a large financial services centre in the Docklands area with plenty of office space plus a well educated and available workforce. I'm not sure Jersey or Guernsey could offer anything like that.”

You should have a read of the BTL comments on the article. They are fairly anti-Irish to say the least. It's like a throwback to the 1800s.

tahiti

25-12-2016

Originally Posted by jmclaugh:
“I did enquire at my local branch and they said while they may be popping some corks over the festivities they had no intention of moving there.”

You are talking about a different thing altogether.

Obviously there is going to be some retailing activity here, even after the hardest of Brexit, but even that will move online, and then why manage the systems from the UK if the skills here are in short supply due to Brexit ?

allaorta

25-12-2016

Originally Posted by tahiti:
“You are talking about a different thing altogether.

Obviously there is going to be some retailing activity here, even after the hardest of Brexit, but even that will move online, and then why manage the systems from the UK if the skills here are in short supply due to Brexit ?”

See what I mean by education having passed you by?

Thiswillbefun

25-12-2016

Originally Posted by burneside:
“You can ask all you like, but you are going to be very disappointed. It's not even certain that MPS will get a vote on the exit terms.”

Because May is trying to override the legal and democratic processes.

Hurrah for far right dictatorships.

tahiti

25-12-2016

Originally Posted by allaorta:
“See what I mean by education having passed you by?”

Do you seriously believe that the esteemed Mr McLaugh will be able to pop into his local retail banking branch in 20 years' time like he just did ?

You lot are something else

Thiswillbefun

25-12-2016

Originally Posted by jmclaugh:
“I did enquire at my local branch and they said while they may be popping some corks over the festivities they had no intention of moving there.”

Is your local branch the head office?

I once asked a lady wearing a crown if I she could make me a knight. Apparently she wasn't the queen.

Merry Jingles day

allaorta

25-12-2016

Originally Posted by tahiti:
“Do you seriously believe that the esteemed Mr McLaugh will be able to pop into his local retail banking branch in 20 years' time like he just did ?

You lot are something else ”

No, I seriously think that because someone has been to uni, they think they are intelligent and learned. You've proved me wrong. You don't even get humour.

allaorta

25-12-2016

Originally Posted by Thiswillbefun:
“Is your local branch the head office?

I once asked a lady wearing a crown if I she could make me a knight. Apparently she wasn't the queen.

Merry Jingles day ”

His local branch is on an oak tree in Spain.

tahiti

25-12-2016

Originally Posted by allaorta:
“No, I seriously think that because someone has been to uni, they think they are intelligent and learned. You've proved me wrong. You don't even get humour.”

Do you know Direct Line ? well that is the future of insurance.

Recently I got building insurance. They send you a questionnaire and you fill it in. No-one comes around to check the property you are insuring. I asked them : they look up claims made in the area to assess the risk of subsidence, of flooding, of tree influence and so on. Soon there will be AI programmes to do that too.

It is the same with Retail banking. There won't be local branches. Banks will assess your credit-worthiness or your business plan through an AI programme. The jobs will be to maintain complex computer programmes. These require skilled workers. If Brexit stops them being in supply here , then the jobs will move abroad. It is that simple.

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