EU and Mercosur agree huge trade deal after 20-year talks

br jones · Jul 6, 2019

Yacker said:
Our overall services (including Financial) is 80% of UK GDP and again its about 44% from Europe

Get your facts correct,

6.5%
In 2017, the financial services sector contributed £119 billion to the UK economy, 6.5% of total economic output. The sector was largest in London, where 50% of the sector's output was generated. The UK financial services sector was the eighth largest in the OECD in 2016 by its proportion of national economic output.25 Apr 2018

Yacker · Jul 6, 2019

I was talking about services (including financial)

In 2017, the service industries accounted for79% of total UK economic output (Gross Value Added). Services accounted for 83% of workforce jobs in September 2018.10 Apr 2019

br jones · Jul 6, 2019

The service industries include the retail sector, the financial sector, the public sector, business administration, leisure and cultural activities. .

Yacker · Jul 7, 2019

br jones said:
The service industries include the retail sector, the financial sector, the public sector, business administration, leisure and cultural activities. .

Well done....

caveman · Jul 7, 2019

br jones said:
The service industries include the retail sector, the financial sector, the public sector, business administration, leisure and cultural activities. .

So nothing that produces anything of any substance other than another means to tax money that has already been taxed?

yin ewe · Jul 7, 2019

caveman said:
So nothing that produces anything of any substance other than another means to tax money that has already been taxed?

All making their living off the primary producer.

caveman · Jul 7, 2019

yin ewe said:
All making their living off the primary producer.

Ha. Yes.
I once observed to a local dairy farmer that he and the trug maker down the road were the only guys in the village who actually produced anything.
All the rest, who give him so much abuse and grief over his activities, only existed by trying to rip off each other for their 10% or whatever.

Yacker · Jul 7, 2019

caveman said:
So nothing that produces anything of any substance other than another means to tax money that has already been taxed?

To some extent but a large percentage are exporting services. 80% of our ecomomy is services so any significant impact on our services has a disproportionate impact on our economy. Financial services produce a disproportionate amount of tax take (about 12% tax for 6% of GDP) so if the financial services halve we loose 5% of our tax take and thats about 40 billion per annum.

Or more broadly our services sector is worth about 600 billion in tax take and a 10% drop equates to 60 billion per annum.

100 billion is a big hole to fill.

Its easy to see why spreadsheet Phil, the CBI etc get panicky about an uncontrolled brexit.

yin ewe · Jul 7, 2019

Yacker said:
To some extent but a large percentage are exporting services. 80% of our ecomomy is services so any significant impact on our services has a disproportionate impact on our economy. Financial services produce a disproportionate amount of tax take (about 12% tax for 6% of GDP) so if the financial services halve we loose 5% of our tax take and thats about 40 billion per annum.

Or more broadly our services sector is worth about 600 billion in tax take and a 10% drop equates to 60 billion per annum.

100 billion is a big hole to fill.

Its easy to see why spreadsheet Phil, the CBI etc get panicky about an uncontrolled brexit.

How are you going to put all those figures on the side of a bus?

Yacker · Jul 7, 2019

caveman said:
Ha. Yes.
I once observed to a local dairy farmer that he and the trug maker down the road were the only guys in the village who actually produced anything.
All the rest, who give him so much abuse and grief over his activities, only existed by trying to rip off each other for their 10% or whatever.

This folks is the catch 22 of brexit and ultimately we can only prosper by selling services not raw materials or manufactured goods. Trouble is that dows not create well paid jobs for less well off folks, however we do have a large pool of well educated young people and a global services business needs lots of bright young things.

Being a little blunt i think there's a generation (ish) of 20 to 35 year olds who will have a opportunity to unshacklle themselves from the generation who voted for brexit, however it will be at the expense of older less well educated people. This is based upon my kids 21 to 28 and their peers who dont have either the one nation Tory and/or Social responsibilities view.

In short they have broadly ceased to give a s**t about those above or below them.

Yacker · Jul 7, 2019

yin ewe said:
How are you going to put all those figures on the side of a bus?

Boris has offered all his hand painted box buses..........

Hindsight · Jul 7, 2019

Yacker said:
Boris has offered all his hand painted box buses..........

Have we actually seen any of those buses yet? I am partial to contemporary art and since Mr Johnson told the nation about his pastime I have been awaiting the opportunity to survey his work. Hey ho, maybe in his memoirs.

Yacker · Jul 7, 2019

Hindsight said:
Have we actually seen any of those buses yet? I am partial to contemporary art and since Mr Johnson told the nation about his pastime I have been awaiting the opportunity to survey his work. Hey ho, maybe in his memoirs.

Its for the few not the many...

robs1 · Jul 7, 2019

Yacker said:
This folks is the catch 22 of brexit and ultimately we can only prosper by selling services not raw materials or manufactured goods. Trouble is that dows not create well paid jobs for less well off folks, however we do have a large pool of well educated young people and a global services business needs lots of bright young things.

Being a little blunt i think there's a generation (ish) of 20 to 35 year olds who will have a opportunity to unshacklle themselves from the generation who voted for brexit, however it will be at the expense of older less well educated people. This is based upon my kids 21 to 28 and their peers who dont have either the one nation Tory and/or Social responsibilities view.

In short they have broadly ceased to give a s**t about those above or below them.

The issues with services is they only reshuffle wealth thats been already created they dont create any . Let's face it in reality what do financial services do that's so great apart from buy and sell stocks, shares, gilts etc between each other 100 times a day creaming a bit of for themselves each time

Yacker · Jul 7, 2019

Well financial services create significant tax take from overseas, many other service businesses sell to EU and the world. My consultancy business brings money in from Germany, France, USA and we pay tax on that profit.

Services produce lots of revenue from outside the UK, the fact is if we are to prosper post brexit then it is services that will deliver it not manufacturing or agriculture and that will leave the "left behinds" abandoned. A cruel twist of fate.

br jones · Jul 7, 2019

Hindsight said:
Have we actually seen any of those buses yet? I am partial to contemporary art and since Mr Johnson told the nation about his pastime I have been awaiting the opportunity to survey his work. Hey ho, maybe in his memoirs.

The buses that sadiq khan has ordered from germany ?

Yacker · Jul 7, 2019

Yep same dealer that sold Boris his water cannon........

Hindsight · Jul 7, 2019

br jones said:
The buses that sadiq khan has ordered from germany ?

Ah, didn't know that Mr Khan had purchased buses. Are they bendy buses by any chance? In which case Mr Johnson's first proclamation as PM can be to ban them. But on a more serious note I would like to see his wine crates painted as buses.

baabaa · Jul 8, 2019

some sobering numbers
eu beef farmers might want to paint on the side of redundant cattle wagons

https://www.agriland.ie/farming-news/mercosur-impact-assessment-needed-for-all-brexit-scenarios-ff/

7610 super q · Jul 8, 2019

If the UK government had done a deal like this post Brexit, we'd never hear the end of it.

EU and Mercosur agree huge trade deal after 20-year talks

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Member

Never Forgotten

0 %

Up to 25%

25-50%

50-75%

75-100%

100% I’ve had enough of farming!

Share this page