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


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Old 25-12-2016, 09:54
tahiti
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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
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Old 25-12-2016, 10:01
burneside
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What makes you think there will be any such referendum?
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Old 25-12-2016, 10:06
tahiti
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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.
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Old 25-12-2016, 10:12
Neppy
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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.
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Old 25-12-2016, 10:15
tahiti
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Deluded, even on Christmas.
bored with democracy ?
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Old 25-12-2016, 10:16
Neppy
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bored with democracy ?
No. I'm not the person wanting another vote because the outcome wasn't what I wanted.
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Old 25-12-2016, 10:17
tahiti
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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.
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Old 25-12-2016, 10:25
allaorta
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we voted on the exit terms ? when ? must have missed that one.
You miss most things.
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Old 25-12-2016, 10:35
Doctor_Wibble
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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
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Old 25-12-2016, 10:42
burneside
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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.
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.
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Old 25-12-2016, 10:43
platelet
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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
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Old 25-12-2016, 11:33
ireland2day
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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.
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Old 25-12-2016, 11:43
swingaleg
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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
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Old 25-12-2016, 11:47
Dacco
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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........
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Old 25-12-2016, 12:06
jmclaugh
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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.
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Old 25-12-2016, 13:07
Eurostar
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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.
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Old 25-12-2016, 13:14
Miasima Goria
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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.
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Old 25-12-2016, 13:15
tahiti
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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 ?
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Old 25-12-2016, 13:20
allaorta
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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?
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Old 25-12-2016, 13:26
Thiswillbefun
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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.
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Old 25-12-2016, 13:26
tahiti
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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
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Old 25-12-2016, 13:29
Thiswillbefun
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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
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Old 25-12-2016, 13:51
allaorta
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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.
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Old 25-12-2016, 13:52
allaorta
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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.
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Old 25-12-2016, 14:17
tahiti
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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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