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7,500 Irish Food and Drink Jobs at Risk After Brexit Hit on Sterling


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Old 29-12-2016, 15:57
andykn
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How many of these 7500 jobs are actually held by Irish citizens anyway. Not many I expect given most Irish young people with any nous have emigrated replaced by cheap labour from the rest of EU and elsewhere,

These may be jobs in Ireland but I expect most aren't Irish jobs!
Ah, so if they're foreigners we don't care.

Even though they'll go home and stop buying British stuff in Ireland.
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Old 29-12-2016, 16:00
MartinP
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Ah yes, because Ireland has such a good commuter network from rural areas to Dublin and Galway, I'd quite forgotten.
No it was your sense of humour that you'd forgotten.

And seriously the impact on the UK would not even register.
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Old 29-12-2016, 16:06
andykn
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No it was your sense of humour that you'd forgotten.

And seriously the impact on the UK would not even register.
You sure? It may be a small percentage but it's a big figure it's a percentage of.
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Old 29-12-2016, 16:08
MargMck
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It'll change things far worse for Ireland.

Not to mention

Looks like there is going to be a massive problem for Ireland. Perhaps a few subsidiaries of banks can make up to having their entire fisheries and agriculture markets destroyed?
https://www.rte.ie/news/business/201...-in-the-press/
ISEQ SET FOR WORST YEAR SINCE 2010 BAILOUT
The Iseq index of Irish shares is on track to post its first annual decline since 2010 - the year that the State was forced into an international bailout.

While the benchmark has rallied almost 23% from its post-Brexit lows, it remains down 4.4% from where it ended in 2015, with only a day and a half of trading before 2016 draws to a close, says the Irish Times


Meanwhile...
https://www.theguardian.com/business...w-closing-high
FTSE 100 soars to new closing high
With just two sessions to go, the FTSE-100 has now gained 13% since the start of 2016, despite a series of market shocks including the Brexit referendum result and the US election. That rise means the worth of the 100 most valuable companies listed in London has jumped by about £230bn this year.

The FTSE 250 index, which contains medium-sized UK companies, also rose on Wednesday, gaining 0.5%. But it is only up 3% for 2016, substantially lagging the internationally-focused FTSE 100.


As for banks...
http://www.irishtimes.com/business/m...hart-1.2919639
Permanent TSB and Bank of Ireland have emerged as the two worst performers on the Iseq20, amid concerns over how they can rebuild their loan books following years of shrinkage, how they can build their lending margins further in a low-interest rate environment, and Brexit.
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Old 29-12-2016, 16:24
Shalamara
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Wrong. Ireland is a big export market for us, 7,500 fewer people being able to afford our stuff will change things for us for the worse.
I think it would be ridiculous to suggest that Brexit shouldn't go ahead because the UK may lose a potential 7,500 customers (who's to say what percentage of them buy from the UK anyway, if any). And surely that could easily be offset by thousands of new customers from other countries.
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Old 29-12-2016, 16:56
andykn
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I think it would be ridiculous to suggest that Brexit shouldn't go ahead because the UK may lose a potential 7,500 customers (who's to say what percentage of them buy from the UK anyway, if any). And surely that could easily be offset by thousands of new customers from other countries.
But that's just one of lots of bad news around Brexit.

Where are these new customers and what are they going to buy more of that they don't today?
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Old 29-12-2016, 17:11
TeeGee
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Sellers usually contract in their home currency and the buyer takes out a forward contract to pay for it. Currencies are never static.
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Old 29-12-2016, 17:15
Mark_Jones9
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But that's just one of lots of bad news around Brexit.

Where are these new customers and what are they going to buy more of that they don't today?
Capitalism is doomed!

UK goods exports were up £2.1 billion (8.7%) in October to a record £26.8 billion.
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Old 29-12-2016, 17:42
andykn
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Capitalism is doomed!

UK goods exports were up £2.1 billion (8.7%) in October to a record £26.8 billion.
Yet down for the quarter compared with last year. And that's with the currency drop, which isn't really sustainable for long.
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Old 29-12-2016, 18:24
Mark_Jones9
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Yet down for the quarter compared with last year. And that's with the currency drop, which isn't really sustainable for long.
You are mistaken.

In the three months to October (August + September+October) UK goods exported in 2016 were £6 billion higher than in 2015

2016 Q3 (July+August+September) UK goods exported were £3.1 billion higher than in Q3 2015.

https://www.ons.gov.uk/economy/natio...ktrade/oct2016
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Old 29-12-2016, 19:19
andykn
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You are mistaken.

In the three months to October (August + September+October) UK goods exported in 2016 were £6 billion higher than in 2015

2016 Q3 (July+August+September) UK goods exported were £3.1 billion higher than in Q3 2015.

https://www.ons.gov.uk/economy/natio...ktrade/oct2016
Sorry, should have said total exports:

"The total export trade for Q3 of 2016 was £72.8 billion, which was a decrease of 0.6 per cent compared with £73.3 billion for Q3 of 2015."
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Old 29-12-2016, 20:39
Mark_Jones9
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Sorry, should have said total exports:

"The total export trade for Q3 of 2016 was £72.8 billion, which was a decrease of 0.6 per cent compared with £73.3 billion for Q3 of 2015."
Not according to the figures in the latest trade report I have provide a link to.

2016 Q3 (July+August+September) total goods and services exports were £7.2 billion more than in 2015 Q3.

2016 three months to October (August+September+October) total goods and services exports were £8.8 billion more than in 2015 three months to October

https://www.ons.gov.uk/economy/natio...ktrade/oct2016

Googling your quote comes up with a
https://www.gov.uk/government/upload...lease_1016.pdf
A different government report released on the same day as the trade report I am using figures from. So the latest government trade report contains different figures in its graphs and tables than a different government report released on the same day.
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Old 29-12-2016, 21:41
mRebel
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We had the Irish posters on here a few days ago crowing over how Ireland was doing a great job attracting financial companies away from London to Dublin so not too worried about UK jobs were they. We shouldn't be worried about them.

The food & drink workers and mushroom farmers can get bank jobs
The odd thing is that the government of Ireland, a country devastated by the collapse of its entire banking industry, is so enthusiastically trying to lure banks away from the UK. It'd be better to help their mushroom farmers, those are real businesses that employ people and pay tax, unlike the leeches in the banks.
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Old 29-12-2016, 22:31
andykn
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Not according to the figures in the latest trade report I have provide a link to.

2016 Q3 (July+August+September) total goods and services exports were £7.2 billion more than in 2015 Q3.

2016 three months to October (August+September+October) total goods and services exports were £8.8 billion more than in 2015 three months to October

https://www.ons.gov.uk/economy/natio...ktrade/oct2016

Googling your quote comes up with a
https://www.gov.uk/government/upload...lease_1016.pdf
A different government report released on the same day as the trade report I am using figures from. So the latest government trade report contains different figures in its graphs and tables than a different government report released on the same day.
I can't immediately see in your link where your figures are coming from.
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Old 29-12-2016, 22:33
andykn
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The odd thing is that the government of Ireland, a country devastated by the collapse of its entire banking industry, is so enthusiastically trying to lure banks away from the UK. It'd be better to help their mushroom farmers, those are real businesses that employ people and pay tax, unlike the leeches in the banks.
Whilst that makes sense are they actually trying to do that?
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Old 29-12-2016, 22:46
Eurostar
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Whilst that makes sense are they actually trying to do that?
Only in the sense of trying to attract banks who may be thinking of relocating post-Brexit. It would be rather silly of them to sit on their hands while other countries are trying to drum up business.
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Old 29-12-2016, 23:39
James_Orton
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Only in the sense of trying to attract banks who may be thinking of relocating post-Brexit. It would be rather silly of them to sit on their hands while other countries are trying to drum up business.
no banks are trying to relocate but many will need to create a subsidiary in some country or another.
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Old 29-12-2016, 23:42
andykn
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Only in the sense of trying to attract banks who may be thinking of relocating post-Brexit. It would be rather silly of them to sit on their hands while other countries are trying to drum up business.
Being open to businesses looking to relocate (what any country bar North Korea would do) isn't the same as "so enthusiastically trying to lure banks away from the UK" at all.
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Old 30-12-2016, 09:20
Shalamara
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Capitalism is doomed!

UK goods exports were up £2.1 billion (8.7%) in October to a record £26.8 billion.
Excellent news, except for Remainers who are determined to only see doom and gloom.
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Old 30-12-2016, 22:01
mRebel
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Only in the sense of trying to attract banks who may be thinking of relocating post-Brexit. It would be rather silly of them to sit on their hands while other countries are trying to drum up business.
Have you learned nothing from 2008?
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Old 30-12-2016, 22:42
Mr Moritz
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How many of these 7500 jobs are actually held by Irish citizens anyway. Not many I expect given most Irish young people with any nous have emigrated replaced by cheap labour from the rest of EU and elsewhere,

These may be jobs in Ireland but I expect most aren't Irish jobs!
So if the same happens here re job losses you're ok with it so long as it's non British nationals losing their jobs.
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Old 30-12-2016, 23:03
andykn
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Have you learned nothing from 2008?
Banks are safer in the EU now instead of the UK now the pressure for deregulation is gaining pace in the UK?
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Old 31-12-2016, 19:07
James_Orton
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Banks are safer in the EU now instead of the UK now the pressure for deregulation is gaining pace in the UK?
is that an opinion on your part or have you some hard facts to back that up.

one thing for certain, outside of the EU we will be able to come out of MiFID II regulation if we require and create our own less restricting regulations.

Of course that could mess up our equivalency but by then we will know what is best.
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Old 01-01-2017, 03:37
andykn
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is that an opinion on your part or have you some hard facts to back that up.

one thing for certain, outside of the EU we will be able to come out of MiFID II regulation if we require and create our own less restricting regulations.

Of course that could mess up our equivalency but by then we will know what is best.
Well there's the thread we had a few days ago campaigning for the removal of CRD IV, which gained support.

And there's your post quoted above.
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Old 01-01-2017, 16:15
James_Orton
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Well there's the thread we had a few days ago campaigning for the removal of CRD IV, which gained support.

And there's your post quoted above.
One thing that the UK will need to do is look into what is best to keep financial markets within the UK and not looking at moving abroad. This could mean making sure our financial services have advantages over EU ones.

It might mean we have aggressively anti EU policies but then I think this may cause the EU to give us passporting to counter the UK being a offshore problem for their markets.
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