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comment by Cook My Sock (U1103)
posted 7 hours, 3 minutes ago
thebluebellsareblue

Northern Ireland's economy relies heavily on EU bloc grants. Invest NI, DRD, etc have sold NI to investors as the gateway to the EU. An (expanding) market of 500 million consumers.

Without access to the SM and customs union (as already seen down south) investors will go 50 miles down the road to invest.

Put yourself in a investors shoes. Come to NI, have access to local and UK markets, up to 65million consumers.

Or invest in Dublin, tarriff free, with free access to 27 other countries and a market of 500 million consumers. It's a no brainer.

And that's solely investment, and not equating for Sterling devaluation, and inflation.

The executive nearly collapsed only last year due to Tory austerity measures. Brexit austerity will comfortably supersede those cuts post 2020.

Anyway, hitting the hay!!

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That may be correct in theory but practice shows something different

I was the development manager for Scotland, NI and north England for one of the UKs top retailers

We built and developed all along the northern side of the border and never set foot in the south.

Why?

Because it wad 20% cheaper to develop in the north so we built new stores all the border and got the benefit of cheaper prices and also got the footfall from the south who were willing to travel 20 miles or so to get a cheaper shop
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It's not a theory. Whilst the UK plans to reduce cooperation tax for businesses, pre tax benefits (compared to EU markets) will be nominal.

This is why the CBI are calling for a transitional period rather than a 'cliff jumping' brexit.

comment by Mr. Unsubscribe (U1110)

posted on 24/11/16

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comment by What would Stuart Pearce do? Active Measures. (U3126)

posted on 24/11/16

comment by Cook My Sock (U1103)
posted 45 minutes ago
It's not a theory. Whilst the UK plans to reduce cooperation tax for businesses, pre tax benefits (compared to EU markets) will be nominal.

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Of course it is a theory

I have have just given you a real life example of how the exact opposite of what you are suggesting has actually happened
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One anecdotal description of your own personal experience does not demonstrate the multiple of issues facing UK businesses.

Did you watch May's speech earlier this week to the annual CBI conference?

Putting taxation to one side, the CBI have conceded that their members will have to curtail investment until the regulatory 'playing field' has been established post brexit. ie 2019 at the very earliest.

This was reflected in the OBR's forecasts yesterday. Which, although they were less pessimistic than the treasury, we're based on the UK having full access to European markets.

As we know, this is far from guaranteed. Leaving the EU alone will cost us £60 billion. Which will have to be recouped from the tax payer.

And the benefits of leaving the EU are....???