Experts Pour Cold Water On Jeremy Hunts New Brexit Benefits!

Bloomberg experts poured some cold water on a "benefit" Jeremy Hunt has been promoting recently as a tool to supercharge towns and cities across the UK. The so-called Edinburgh Reforms are being touted as tools to free up banks and financial institutions post Brexit. But that doesn't seem to be the case...
Patreon - / maxrobespierre
Amazon - amzn.to/2QoRauj
Facebook: - / maximilienrobespierre1794
Twitch - / max_robespierre
Merch - maximilienrobe...
Twitter - / maxfrobespierre
Buy Me A Coffee - www.buymeacoff...
#brexit
#brexitreality
#jeremyhunt
#edinburghreforms

[@JHatLpool]

Six years on from the Brexit referendum, the Tories are still running around desperate to find a Brexit benefit. The only Brexit benefit I have seen so far is the English exercising their democratic right to throw raw sewage straight into the sea.

[@johnrussell3961]

The benefits they wanted where never advertised. They never told fishermen to vote Brexit so more IPO’s get done in the City. Brexit was all about British fish at the time.

[@jounik]

The benefit is in removing the regulatory stops that being a member of the EU forced into place. Now they can finish scrapping the country for profit without having to mind human rights, the viability of the country and other minutiae like that. But even they understand that actually stating that as a benefit would be somewhat detrimental.

[@maynardmckillen9228]

Well now, there are other, uh, "benefits". That troublesome Economic Growth thing has been throttled, that annoying GDP has finally come down to a more reasonable and paltry level, and the rash commonly known as Trade Intensity is finally clearing up. And finally, we've managed to reduce business startups to a level where it will be easy to drown them in a bathtub. Say, who's game for a picnic in the broad. sunlit uplands?

[@wolfgangpreier9160]

The molluscs have parties every day. Maybe the oysters fight back and conquer England? They would not even need trillions of dingies. What will Mr. Garage tell us? Turn your Telly right to watch!

[@JHatLpool]

@@wolfgangpreier9160 I'm sure that your mother laughed at this.

[@mandycouchbean]

We need to stop listening to Politicians & start listening to the experts !

[@markmoran916]

Totally agree but the biggest issue I can see is when over half the English population are well below average intelligence they are easy to manipulate by dodgy cnuts like farage, gove and Johnson

[@healingprotectioncreation7117]

The politicians and experts will alike have masonic obligations and will ultimately be working for the bloodline families.

[@willieckaslike]

Aye! And independent experts too. NOT the "yes men" appointed by Government !

[@romansUK]

Too late.

[@audreymcgready4329]

I don't know about anyone else. But my head is starting to spin with the amount of lies being told over numerous years.

[@healingprotectioncreation7117]

It's lucky that we were told the truth by "experts" during Covid.

[@jerrytwolanes4659]

Your head is just starting to spin now? Where were you the last few years?

[@bumblingborisbuffoon6259]

The Tory record.

[@audreymcgready4329]

@@jerrytwolanes4659 Trust me Iv'e been around for over 61 years.. Only thing is i used to be able to keep track of it. But it's a constant now. With every word that comes out their mouths. So yeah Like i said. Starting to.

[@LoneSheWolf09]

Ditto

[@colinforrestal3819]

This is just undoing the good reforms put in place after 2008 banking collapse.

[@stephenthomas3085]

I don't think that there were many of them; I can certainly remember the determination with which the banks fought tooth and nail against even the most modest reforms and regulation in the wake of 2008.

[@himoffthequakeroatbox4320]

Which had been put in place after a previous collapse, and then removed in 1999. But of course coronation is not casualty, innit.

[@willieckaslike]

And why ? To appease their wealthy friends. Those who so cleverly engineered Brexit, in such a way the people really believed they had won a great victory. Simply in order to avoid the new incoming UE legislation which would force them to reveal not only their assets, but also, how they aquired them. That they could not allow as there were/are far to many skeletons in the cupboards. And so Britain & in all possibility the Union itself were the "sacrificial lambs" ! R.I.P.U.K. !

[@wulfcogle9988]

I was unaware that honesty and brexit could be used in the same sentence. Thank you Max. ;)

[@maynardmckillen9228]

Ah, but it IS possible! "At no point in the promotion and execution of Brexit was honesty employed, or even present." (Integrity and competence were also conspicuous by their absence.)

[@andimcgaw]

I was lucky enough to work within both the financial and law industries and one of the firms worked on the Brexit strategy and only one person thought it was a good idea. Everyone else in the law firm knew it was going to bring about this level of disruption. For the whole of 2017 I spent time in the Frankfurt, Madrid, Amsterdam & Paris divisions of the law firm getting them ready for when the UK left because they knew where the business was going. I was preparing to move to a EU country but was diagnosed with a terminal cancer so I just decided to stop.

[@pjmcgoldrick1967]

That is terrible for you. I wish you well. 🇮🇪🇪🇺🇮🇪

[@healingprotectioncreation7117]

You were lucky to work in those industries before Artificial Intelligence renders human input in those spheres less necessary.

[@crb9899]

best wishes to you!!

[@paulawakefield7869]

All best wishes for your healing.

[@jeanpierreviergever1417]

Glad you made the effort sharing your story in the time you have left. I hope you make the most of your time and that great suffering is spared. All the best.

[@mandycouchbean]

Bloomberg Media Journalism at the top of its Game ! 👍

[@pjmcgoldrick1967]

What you’ve done there, Max, is to draw attention to one of the main reasons why the UK as constituted at present will never be readmitted to the EU. Those sectors of the EU economy which have benefited most from the UK’s departure are those which would carry the most sway with governments considering a new application for entry - and a vote on the UK’s readmission would have to be unanimous. It ain’t gonna happen. The long sought-after Brexit benefits are already here - but it’s the EU countries which are benefiting. We are picking the carcass clean. Who could have foreseen that? 🇮🇪🇪🇺🇮🇪

[@timelwell7002]

Never say never! But I suspect it will take 40 years or more before either the UK is ready to re-join the EU, or indeed until the EU can trust the UK not to want to revert to Brexit - if the UK were to be allowed to re-join too soon, that is. All the time there is such antipathy and animosity towards the EU on behalf of both UK politicians and the English electorate, the UK simply cannot be trusted. I say the English electorate because both Scotland and Northern Ireland voted Remain in 2016 - and by significant majorities.

[@vanweefrancis]

I think, as a Belgian, that EU will accept UK as returnees. Of course, EU asks probably some warranties : a referendum, a large support from the politics, may be a minimal delay to allow triggerint of article 50, ... But for EU itself it will be a great victoty. Before Brexit, some countries (e.g. : Hungary) threat EU for leaving, in other countries like Danmark political groups asks for leaving. Since the "Brexit success stories", they are both quiet about this possibility.

[@jounik]

@@timelwell7002 It'll take some decades for what ends up remaining of the UK to even meet the criteria of a member candidate, so there's that. There's no reason for EU countries to even entertain the notion before that.

[@georgiewalker5826]

Some countries are benefitting from Brexit but the EU as a whole is not, the UK definitely is not benefitting. The main issue for the UK re-joining the is will the UK going to be pro-EU this time and will they be able to meet the joining criteria. No country is going to stop the UK from joining because they think the UK will be able to get it's business back. If that was the case then no country would join the EU ever as frictionless trade is kind of the point

[@georgiewalker5826]

There certainly are reasons to block the UK joining in it's current state, but I doubt business flowing back to the UK would be one of them, otherwise there would be no point to having an EU in the first place

[@Elzilcho87]

It’s like someone walking into your house and happily shitting on the floor in front of you, and then trying to convince you that they’ve just given you a “benefit” over your next-door neighbours since the excrement could hypothetically be used as manure.

[@wolfgangpreier9160]

More like a deterrent for the postman…

[@oldishandwoke-ish1181]

Pretty much exactly that.

[@audreymcgready4329]

We are in desperate need of truth tellers. Not so much on YT. But in MSM. But i won't hold my breath.

[@maynardmckillen9228]

One uncomfortable Truth is that, on balance, the UK needs the EU more than the EU needs the UK. But try telling that to a Tory. He or she will start gabbling about a river in Egypt...

[@WVislandia]

Since I worked in Edinburgh banking IT for several years, I kept waiting for some clarification as to any of this. 'Ring fencing' - during the financial downturn I think there was concern that bad debts could affect other parts of a given bank so they put in guards against that. I would have thought most institutions around the world at that time had to consider doing similar. It is a pity to name something 'Edinburgh' after the major bank tumbled itself on the basis of buying what it couldn't afford - would you want that label after that, I wouldn't. The problem with just about any banking 'reform' is - they are all opaque, Max! Banking just doesn't make itself clear or at least I don't think it does. But as to the main point, totally agree, Max - the EU was not holding Britain's financial handling back. Now that Brexit has happened, I'm only aware of staff going to the EU simply because major banks are leaving Britain along with other businesses - because Brexit has made trying to conduct business in Britain too difficult - ie., too costly. But we knew we couldn't trust the word of any of the Tories, didn't we?

[@grtcara8386]

I trade/invest and since Brexit none 0% of my capital is invested in the FTSE it’s in the US and sometimes the DAX but now some is in Chyna, none in the UK

[@StreakyP]

Just ask the UK/Irish ferry operators... Britain WAS seen as the bridge from Ireland to Europe, now it is a BARRIER between the two (cue longer direct routes now cutting the UK out). A Brexit benefit for Ireland?.

[@williampatrickfagan7590]

One cannot argue with Bloomberg.

[@franksheekey8096]

This is mostly down to Farage, he has already stated that he was campaigning for 30 years for the UK to leave the EU, he was instrumental in destroying the UK Fishing industry and for bringing xenophobia to the fore, when will he be brought to account ? Instead of being allowed to spread his poison on social media ?

[@georgec7899]

FARTAGE at both ends

[@helenooft9664]

So glad that Farage is out of the EU parliament, that man is a snake.

[@himoffthequakeroatbox4320]

Next time he goes to another country to tell them what to do in the name of national sovereignty revoke his passport and don't let him back in.

[@frankie6954]

Whatever Hunt seeks, we know it won't be to help the ordinarypeople in any way, he's a disgusting human being, just like his colleague Coffey. The damage these Tories have done to this Country and it's people is beyond comprehension.

[@BrianMcGuirkBMG]

Almost treason, but then treason was only designed to be a detriment to elites and the wealthy. They don't care one whit about how many of the plebs are killed, never mind how many are affected in a detrimental way.

[@5160David]

Unfortunately enough people were convinced through their own racism, bigotry and downright ignorance by people like the oligarch owned media and their puppets like Johnson/Rees Mogg et al, that this was a great idea. I despair for some of the people I must live on these islands with

[@oldishandwoke-ish1181]

And yet large numbers keep adoring these posh creeps 🙄

[@romansUK]

You voted for it even after being warned (many couldn't be bothered). Self-inflicited.

[@Tvjunkieful12]

I have never understood why so many Brits thought it a good idea to leave the EU. But I remember the Leave campaign spread a lot of lies about more money for the NHS, better trade deals with other countries and more, that never materialized themselves. So how the Brexiteers can claim the referendum to have been the will of the people, when so many lies or false promises were motivating people to vote Leave, but never came to pass, is a mystery to me?

[@johnrussell3961]

The Tories told them It was a good idea.

[@whatsinaname11]

Because it was sold as a money saving scheme, that would benefit the lives of us in the UK. Yet more lies. Where are the savings?! 😂

[@Tvjunkieful12]

@@whatsinaname11 Agree. It was a shameless exploitation of ordinary Brits too busy with their daily lives to get the full picture of what Brexit could mean, and therefore chose to think what they were being told by the Leave campaign was not lies and false promises, but the truth.

[@oldishandwoke-ish1181]

@@johnrussell3961 And a lot of Brits, English especially, still think "posh" people know what's best.

[@Skylark_Jones]

One Brexit benefit does not a prosperous nation make; and if the so-called Brexit benefit relates to more wealth for the rich, then some Brexit benefit that is!🙄

[@mandycouchbean]

How refreshing to hear from Journalists not acting as a Tory mouthpiece !

[@oldishandwoke-ish1181]

The Tory media doesn't employ journalists, it employs professional praise singers.

[@jhwheuer]

Brexit kept certain money laundry troubles away

[@hm14uk]

It's what brexit is really all about.

[@bumblingborisbuffoon6259]

@@hm14ukthat and reduction of workers rights and civil liberties.

[@hm14uk]

@@bumblingborisbuffoon6259 Absolutely.

[@oldishandwoke-ish1181]

Yes. It was a project by the rich and corrupt, for the rich and corrupt. And trusted as something completely different by millions of gullible people. Therein lies the problem.

[@dannymurphy1779]

Wasn't it the easing of banking regulations that caused the Global Financial Crash in 2008??? Why are we revisiting something that turned out to be a disaster???

[@imSatnav]

Because until the crash some very rich people got significantly wealthier. People who, I might add, then left ordinary people like you and me to pick up the tab for their greed.

[@johnrussell3961]

No Government can do QA for business. It can’t go looking at derivatives and saying this is a crap product. Securitised Mortgage Derivatives caused the crash.. Belief in their value collapsed, and with it the value of assets banks where holding. Banks stopped lending to each other fearing imminent collapse of other banks.

[@roderickmain9697]

Its interesting to listen to people who know what they are talking about and compare in to government ministers who a) dont know what they are talking about and b) would avoid talking about it if they did. ( ...and c) dont mention the B word)

[@ilokivi]

Those advocating for withdrawal had a vested financial interest in doing so, and were willing to harm their peers and their descendants in order to accomplish this. Thank you Max, herein lies the duplicity and the callous indifference of the withdrawal campaign leaders. That damage will not be easily repaired.

[@Daithai96]

I think that our arrogance and exceptionalism has finally dealt a terminal blow to our relevance in global markets. I don't think that it's undeserved, but it still pains me to see this happen. Well done Conservatives, this is what you fought for, enjoy the victory.

[@paulmcgrath3248]

Nobody' in their right mind wants to see somebody else flush themselves down the toilet.

[@MrStoneyburke]

Brits when you pressed your home grown Self Destruct Button there was no turning back from the Bottom of the Pit.

[@steveholmes381]

There is a Brexit benefit that the Government seems reluctant to mention, we do not have abide by the EU Tax Avoidance Directive.

[@someoneno-one7672]

Smaller economies on the peripheries of large economies have two possible options: either to start taking part in the larger economy and use their proximity as a mean of making profit or to get drained by a larger economy. So for Britain it’s a slow way back with a lot of draining in the process.

[@johnrussell3961]

Why would EU members let us back in just to see capital and jobs flow back to the UK?

[@abbofun9022]

@@johnrussell3961why would it flow back? Even a donkey hits same stone only once.

[@LL-vk9zc]

Any motor mechanic will tell you that bolting a turbo-charger onto a worn engine will probably blow it up, the additional stresses adding the kiss of death. Ditto UK's economy.

[@stuartlawson7977]

NEVER TRUST A TORY ANY TORY

[@viper_fan]

What about happy fish and sovereign tea? And blue passports!!!

[@pergustavsson2424]

Don't forget the crown-stamped pint glasses! (Bought from Belgium)

[@viper_fan]

@@pergustavsson2424 and the imperial units!

[@colinsixhitter3303]

In the UK money has always had more rights than the ordinary people. It kept its freedom of movement when we all lost ours.

[@MaBaKar]

Thanks for drawing attention to this. And don’t you feel sorry for Edinburgh being lumbered with this title? Was it meant as a “tribute” to the financial industry in Edinburgh, having a small package of limp “reforms” named after their city?

[@morphelan]

Put it this way Bank of America's European HQ was supposed to be in London, it's in Dublin now employing over 800 and even better they rolled in their existing London based operations to the Dublin HQ moving 125 staff. The Brexit benefits keep on coming, the high skilled, high wage economy ............for other European countries.

[@Loneman_OG]

Wow! Whodathunk something like this would happen? If only someone would have said this _before_ the vote! 🤦🤦‍♂🤦‍♀

[@thefrecklepuny]

Imagine the likes of Hunt, Farage, Davis, etc being a salesman attempting to sell you an expensive product. And they can't even offer you a single tangible benefit, let alone half a dozen or so. Would you give them their commission and purchase from them? Me neither.

[@oldishandwoke-ish1181]

Plenty would if said smarmy salesmen bandied about talk of "sovereignty, self-sufficiency, making us great again, getting rid of foreign labour and giving jobs to locals". Oh wait - that's what they did.

[@richardc6269]

U said it!! It's unfortunate. Hope u guys get some leadership soon to right the ship, so to speak.

[@theunknown1426]

UK is getting closer and closer to Oliver Twist days..... (exactly what the mogg and his chums want)

[@mickreaddin4979]

Hunt... "what we need are relaxed banking rules/regulations like we had in 2008."

[@imSatnav]

Of course. Because that went so well then.

[@maynardmckillen9228]

Does Hunt's brain even register what his mouth just said?

[@lordveteran9126]

I'm still waiting for EU countrys to tell uk workers we can go there to live and work...with help to get out... you watch us leave in droves... I think spain is getting it started...

[@markwelch3564]

Germany is starting to advertise for non-EU folk to move to Germany for work, too

[@davidty2006]

I mean it's temping. Really temping to f off to mainland europe. Heard the Benelux is quite nice

[@henkvisscher4379]

The number of British workers in the Netherlands has more than doubled the last years. Plenty of jobs, a population which speaks English prettiy well and always close to home (the family)

[@matthewrice3432]

I think you might be right! 🇪🇺🤘🇪🇸🤘🇬🇧🤘🇪🇺

[@Kwirks]

It's a sad state of affairs Max when we the general public have to turn to KZbin for the likes of yourself, Phil on a Different Bias & Truth to Power amongst others to find the truth & see what real journalism can find & produce when they ask the right questions again & again. Not many, watch the BBC, ITN or Sky news for factual unbiased content. #EnoughIsEnough #GTTO #NHSpay15

[@ruthguthrie1099]

Oh Max. You sounded so pissed off at the end there 😥

[@chezceleste]

Jeremy Hunt just says what he's told to say...that's why he always looks so terrified he'll forget his script.

[@maynardmckillen9228]

His visage does seem to default to a kind of vacuous mania. Calls to mind one Norman Bates...

[@himoffthequakeroatbox4320]

I always thought he looked smug rather than terrified. I'm totally sure he's not though, it's just how his face is.

[@briancohenthepfjmassive.4769]

The defence of the brexit voters seem to be using the. "it seemed like a good idea when I was pissed but now in the cold light of day I can only say sorry your honour" defence strategy for many a stag night.

[@JohnHollyoak-vx6pn]

Brexit is like getting a tattoo when you’re pissed, you wake up and realise you hate it, but you’re stuck with it for life!

[@maynardmckillen9228]

@@JohnHollyoak-vx6pn That tattoo came with an free infection...

[@davidhansell3410]

Centre Left parties need to agree to set up a Royal Commission on the REAL benefits (or not) of Brexit.Complete transparency without the Party politics facts not feelings.

[@rogergreen2695]

Is it back to the days when the banks can bet again on ridiculous outcomes? Where my money is at a risk over which I have no control? Can we have our £850 Billion back, manufactured by QE and given to the banks? Because it was all not worthwhile it seems.

[@trident6547]

I don´t think the financial sector in EU will have any problem holding on to what they have got from UK in a possible scenario that UK/England applies for and gets membership in EU again. The process to get there will take several years from the point where UK satisfies the Copenhagen Criteria and can apply. That year is several years away in the future ( if there will ever be a majority large enough for applying to join). At that time the Euro clearing has already left London for any of the financial centers in EU, probably Frankfurt or Paris, because the move is only a couple of years away in 2025 at its latest as stated by Mairead McGuinness the European Commissioner for Financial Stability, Financial Services and the Capital Markets Union . Her position btw underlines the status the Republic of Ireland has got in EU. When it leaves London a whole lot of highly paid experts and companies will leave too diminishing London´s status even more.

[@chris6206]

Honesty from this government on brexit lying could be a honest assessment !

[@stuartlawson7977]

The truth will out. But l'll be dead .

[@theotherandrew5540]

Now, London is known as the money laundering capital of the world. Could there be any connection to the ‘odd’ PPE deals doled out by the Tories?

[@FACT3200]

Well, well, well! Brexit seems to becoming a Global Exit! 😱🇪🇺🇧🇪

[@mattstevenson5849]

But Brexit means the UK financial services sector won't have to impose a european wide financial transaction tax. There is a Brexit benefit - just not for ordinary people.

[@johnrussell3961]

We have a shortage of tax. Hence all the cuts.

[@mattstevenson5849]

@John Russell yeah, I've noticed at pay day all the tax the government are giving me back 🙄.

[@landsnailproject2875]

The UK thought the EU would bow down to the UK, and its has failed big time they thought this could never happen. now its just spite against EU saying its the EU fault. The Tories lost the financial top spot and now everyone is being punished for the stupid Brexit.

[@imSatnav]

Lost Assets? Lost Assets? Nearly £3tr is not losing assets. Its like giving my car to my next door neighbour. Sure, I can catch the bus to get around, but it's not the same. Paris has now overtaken London as Europe's largest financial market.

[@johnrussell3961]

Paris and London both got poorer. Paris was propped up by rich Chinese buying French luxury goods . So those companies rushed up the league table making Paris first.

[@verystripeyzebra]

No, Paris is not the biggest financial center, that is still London by a long way. Paris took the lead in one specific sector, not as a financial center in the whole.

[@alastairwallace6153]

The tories are liars, there should be a law to make it prosecutable and finable should mp s lie over and over again in parliament or to the public.

[@perhennung]

When are you going to hold the people pushing brexit through by lies, responsible.

[@evulclown]

Grifters don't like being outed

[@carloduroni5629]

About half of my life has been in an Europe divided by an Iron Curtain and by smaller but still present "country" walls. I remember the relief and the sense of freedom of going abroad without worrying about passport and exchanging money in currencies that required a mind-reset every new trip. I'm probably too old to see an UK re-join and, although sorry for this overall situation, my biggest concern is for my nephews and my friends' sons who chose to study and live in UK a few years ago. Today, they spend more time in airport customs queues than on the plane to Italy or Germany.

[@martincopeland8153]

A nice mega-bucks sinecure post-Parliament on the some Bank’s Board of Directors in prospect for some Minister in prospect methinks!!!

[@Demun1649]

Mr Chunt is a terrible person to be in charge of the countries money.

[@sphinx1017]

...but the people who voted for brexit will never believe it so what do facts matter?

[@jeant763]

Ah Max, but Bloomberg is left wing! 😉 Totally agree

[@paulmcgrath3248]

So presumably the eu is the big boogeyman in the ,room , brexit mixed metaphors

[@californiadreamin8423]

I don’t trust the Tories.

[@widebleek8138]

Leaving the EU? It’s about foreigners. Shame 💥

[@dirkdupont5004]

The UK is now rewriting history before it even happened just to "find" a Brexit-benefit.

[@johnrussell3961]

I thought Brexit was about fishing?

[@dirkdupont5004]

@@johnrussell3961 And, sunny highlands that would manifest themselves immediately after the referendum, a slew of diplomatic jets that would be among the first to strike a trade deal with the superior UK, now freed from the yoke of the EU and holding back dinghy's in which not a single EU citizen ever crossed the Channel

[@steveparker8065]

I've added a pointer to your channel to my book mate, freebie on my about page!

[@johnrussell3961]

More supply side nonsense. A recession exposes what business really needs. Customers! Bussiness are asking where demand is going to come from? No one is asking where capital might come from. It’s sitting there doing nothing waiting for customers to appear.

[@korolev-musictodriveby6583]

Well , Osborne thought he could get us all spending again by making millions of us poorer . And deader .

[@johnrussell3961]

@@korolev-musictodriveby6583 . We have fewer customers than the EU and are intents on making them poorer. The EU has far better demand prospects.

[@korolev-musictodriveby6583]

@@johnrussell3961 - Yes John .

[@decmurray1096]

'Juice' the people, not the financial sector. How can there be growth if nobody has spare income?

[@nels0h]

The 30 Edinburgh reforms are also bogus, half were already in the Finance bill in parliament, or were being taken forward by regulators. Many of them are aligned to the things that the EU has already or is doing (e.g. inclusion of crypto in finance regulation). The canary in the coal mine for this is that finance is a multiplier, not additive, to an economy and what finance calls the 'real economy' has not recovered since 2008. Constant mismanagement, lack of foresight and ambition from successive governments has made us lurch from crisis to crisis with no resolution. This is something that the longer it goes on, the more finance will leave for more predictable economies.

[@markgoestofrankfurt]

Jeremy Rimes--Wyth is in la la land!

[@hansj5846]

Britain has gone from one of the poorest countries in Europe to a prosperous country inside the EU, now it's on path towards the bottom again.

[@garryferrington811]

Soon to be beaten by Slovenia, of all places.

[@chrisyarnold6205]

I didn't know that, I really thought that this deregulation of ring fencing and lowering of retained reserves, was just a Tory ploy to make rejoining one day just that much harder. However I feel that it is just a matter of time before divergence from EU standards in the City, does make this likely, especially when we lose Euro clearing, and probably a lot of Dollar clearing business with it in 2025. The pressure to deregulate further here will be great to attract new business.

[@himoffthequakeroatbox4320]

Wouldn't work. A government can't bind its successor.

[@paulmcgroggan7749]

A drowning man will grab out at anything on the way down 👇

[@JMS-2111]

If I my knowledge of a field was questioned by tweeter and facebook "experts" that didn't have any proficiencies in the field, only opinions. I would leave for a place that valued my opinion and would never look back. If England will want their experts back, they will have to pay through the nose to get them back, and some grovelling may be involved.

[@kennethatkins9250]

Government slight of hand . Corrupt as normal.

[@catherinemartin6258]

Absolute mess

[@jonathanwetherell3609]

Rejoining the EU can not be about restoring the UK economy. The damage is too great and is permanent. It is about damage limitation.

[@matthewrice3432]

@@healingprotectioncreation7117 .... nah. Those things are, of course, part of the problem, but Brexit has made it faaaar worse.

[@jonathanwetherell3609]

@@healingprotectioncreation7117 Immigration has halved in 20 years. We are now in economic trouble because we have a shortage of labour. This will continue until either we increase immigration or shrink the economy to fit the workforce size. CoViD19 has hit the economy hard ,as it has in other countries. The G20 have all recovered to pre pandemic levels (or above) except Russia, which has shrunk by 7% and the UK. The science on climate change is clear, either we spend now to mitigate the effects and reduce the damage or we face a much higher impact later. Amazing what a few facts will do to focus reality.

[@oskarrunhaar6607]

Again ..... where were these journalists before 2016?

[@mikehall7189]

They will never learn the lessons of the past.

[@SSRT_JubyDuby8742]

Like deployed 👍

[@richardcoppack5357]

I think the City wanted to get away from some EU legislation. I am not familiar with all but MIFID II is one of them.

[@MikeStock88]

Just one, can't you give us just one benefit? The rest of the world thinks we are a bunch of morons

[@happinesstan]

"Bloomberg have to tell the truth" HAHAHAHA!

[@patrickokeeffe539]

Hi Max can you help me. Is UK 2022 trade up or down? I cannot-find it, but a Brexiteer said April was the UK best month ever fortrade?

[@viper_fan]

I bet he didn't mean the numbers, but the change percentage. So, if you sell goods for 100$ annually, then, in one year, you only sell 10$, but in the next year you sell 30$, you have a 300% increase.

[@Tybalt-si9wf]

Trade, adjusted for inflation, is down. But if you want to lie with statistics, you don't adjust for inflation, and so you can male it look like trade is up. Lies. That's all the Brexiteer have left.

[@susannehartl3067]

It always depends which periods were compared. I don't have the figures ready right now, but I can imagine that the increase in April compared to the previous year could still be explained by the lower economic activity in the previous year due to the pandemic. A month to month comparison, as some businesses would do, makes no sense for a country's econonomy as they have hardly any seasonal fluctuations.

[@imSatnav]

@@viper_fan and, to quote mendacious Tory MPs, "the fastest growing economy in the G7."

[@johnrussell3961]

The UK includes good in transit as exports. The EU doesn’t. We are saying LPG from Qatar is a UK export. The EU are saying….dont be silly..it’s a Qatar export. Our actual exports are still going down..

[@padgepadgham3238]

Thank goodness we got out when we did, the EU is sinking fast, but thankfully we will not have to help prop them up.

[@keithmoore5224]

my pention has droped by 25% thanks brexit reterd to thialand

[@tomaszbarnat538]

How this is even possible to think that country of 65 mln people will in any shape or form beat market of 450mln .I would ban calculators in British schools and let young people learn more about European History and relations

[@DD-sr9xm]

First Bloomberg knows nothing. Second the UK finance industry benefited MASSIVELY from being in the EU, because with the introduction of the EUR, all the regional finance centres evaporated as the lira, peseta, Deutschmark all disappeared. The entire EUR infrastructure located to London. Italians, Germans, etc all shifted to London. Once you quit the EU though, the ECB can’t abide the primary EUR marketing located outside the EU. So it’s moving to Dublin, Paris, Amsterdam and elsewhere WITHIN the ECB purview.

[@capt.bart.roberts4975]

Lizzie Burdon, didn't kill her old man with an axe?

[@stewartashling]

It's OK we have Indian workers. Plumbers. Painters. Brickys. Joiners.

[@andressanchezcasado4433]

Right wing is hierarchy left wing is equality

[@justsayen2024]

Please Max,, don't get me started on that woke Bloomberg report🙄 You bet billions of dollars in Dividends are leaving Great Britain forever.

[@andrewrobinson2565]

Subtitles - Jacob Very-Smog 🤔, opaque as ever. 😀

[@mickeythompson9537]

This is why we've had enough of experts: they get in the way of all the mindless delusional positive thinking.

[@marccarter1350]

Bankers Bonuses benefit everyone :-)

[@totty1962]

Answer that question yer right.

[@henkvisscher4379]

‘The real winner is Europe’. I admire your brillant analyse, but here you say something completly wrong. Talking about the Continent as Europe (as I so oftewel heard talking to Brits, is the core problem. Great Britain or at least England saw itself never as a part of Europe, which began in the other side of the Channel. This English attitude causeur Brexit (which was an English wish)

[@naimanaima5766]

Jrur

[@bob23301]

England and Wales should not be allowed to even ask to join the EU again for at least 100 years, that way all brexit voters and any influence they had will have turned to dust......Scotland and NI should be allowed to join now.

[@trident6547]

NI would be in the EU immediately when it will be a part of the Republic of Ireland. Scotland will have to join according to the rules of Article 49 of the Treaty of the European Union: Any European country that satisfies the conditions for membership can apply. These conditions are known as the ‘Copenhagen criteria’ and include a stable democracy and the rule of law, a functioning market economy and the acceptance of all EU legislation, including of the euro. A country wishing to join the EU submits a membership application to the Council, which asks the Commission to assess the applicant’s ability to meet the Copenhagen criteria. Based on the Commission's opinion, the Council then decides on a negotiation mandate. Negotiations are then formally opened on a subject-by-subject basis.

[@bernardmaasdijk734]

Imagine your family name is Burden and your parents call you Lizzy. Was someone trying to be funny?

[@96qwer]

More benefits for brexit britain

[@bumblingborisbuffoon6259]

Sorry I missed the first benefits, could you remind me of them please ?

[@96qwer]

@@bumblingborisbuffoon6259 sarcism 🤩