Brexit Roll Man

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The jubilation among bankers and some companies will be tempered by worries about Cameron’s promise to hold a referendum on the EU in 2017, with some companies fearing it will damage trade with Europe and hinder foreign investment in Britain.

“The EU referendum is the event that creates a massive degree of uncertainty,” said Charles Allen, a senior analyst for Bloomberg Intelligence.

The success of the Scottish National Party, which made huge gains against Labour, will make companies in Scotland think again about whether they need to shift their headquarters to England, Allen said.

Retail companies are also expected to be winners from a Cameron victory, after Miliband promised to increase the minimum wage and scrap so-called “zero-hour” work contracts.

Banks And Businesses Welcome Cameron Win Despite Euro Fears (Bloomberg)

Earlier: While You Were Sleeping

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28 thoughts on “Brexit Roll Man

  1. Paul Davis

    This is the most serious threat to Ireland in a generation.

    Ireland is f**ked if the UK leave.

    Great result for the UK thought.

    1. Martin

      on a slightly silver lining, we might see many companies shift their HQs from London to Ireland.
      still though, it’s obviously not a good thing for us overall.

    2. B Hewson

      I don’t see why it is such a threat to Ireland. They will still want to have strong relations and open trade with us. It’s not as if this means the UK becomes North Korea. There will be opportunity if anything as Ireland will be the only English speaking country in the EU. I do wonder with the focus on immigration in the UK how tight their borders and immigration policies will get. And what the effect will be on Ireland and our dozy immigration. Will be be seen as a soft target for the hundreds of thousands of economic migrants arriving in Europe wanting to get to be UK.

      1. Jane

        I suppose if the UK do leave the EU, we’re going to need frothing loons to take over the UKIP role.

      2. Owen C

        Its a threat, but not an insurmountable one. Would hope (note, hope rather than expect) that the government is preparing a reaction plan to protect against/benefit from any Brexit. ie how they can encourage MNC HQs to move some or all of their operations over here, how they can react to any construction requirements arising off the back of that, can they streamline the process of transferring over any entities that require heavy and safe regulatory oversight (ie financial services), how they can help indigenous SMEs manage any FX issues arising (simple volatility or outright weakness of GBP), how they can quickly create new trade, defence, political etc agreements with the new non-EU UK. All of this should be done well, well, well in advance of any actual outcome. Put a team together to look at all pros, cons etc.

          1. Paul Davis

            I think all tenders have to go in the European Journal.

            I may be incorrect but the EU laws on procurement are being expanded again at the moment.

        1. mauriac

          Brits seem to have forgotten the disaster that was their early Anglo Scandinavian free trade alternative to the EEC before they came begging to be let in (dragging Ireland in their wake )

    3. Odis

      @ Paul Davis – instead of towing the official Brussels line on the Brexit (if it ever happens – which is debatable). Ireland should start looking to exploit the benefits.

      1. Paul Davis

        Yes of course there will be huge gains by those who move fast but there will be a lot of hardship caused by this.

        That is my point.

      1. Paul Davis

        The average working UK resident will be better off under Cameron than (ex leader) Miliband.

        1. Don Pidgeoni

          Says you. Oh thats right, this election was only about the hard working families

          1. Paul Davis

            They do make up the majority of the population. That’s how a democracy works.

            Say’s me? Does anyone disagree with my initial statement? Any rational commentator would agree.

    4. jeremy kyle

      And when they do leave they’ll untie the rope holding Ireland in place and we’ll be sucked out to the Atlantic Ocean.

      “Where’ll we go now lads? ”

      Before you know it we’ll all be drinking cocktails off the coast of Brazil.

  2. Jt

    Dead man walking. The loss of Danny Alexander’s seat to a 20 year old student makes me question the level of intelligence in Scotland.

    1. Don Pidgeoni

      The Lib Dems effectively sold their soul to the devil. This is their reward. Do not underestimate the drive of the Conservatives talking up the SNP threat to a Labour government. It drove England to vote Tory and Scotland to vote SNP.

  3. Mr. T.

    Fine Gael were popping champagne in their HQ last might apparently when they found out their kindred spirits, the Conservatives were looking like making it.

    1. DT

      I’d say it’s more likely they were popping corks because they feel they’re in the same position – imposed austerity, economic indicators good, but people not feeling it on the ground, etc – and feel it bodes very well for them in a year’s time. They’re probably right too. I get the impression that FG will do better than people currently expect at the next election.

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