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Brexit means it is more costly for them to operate in the uk, and they’ve decided the UK market is not worth that extra cost. If that’s not about Brexit I don’t
by grey-area 7y ago
Brexit means it is more costly for them to operate in the uk, and they’ve decided the UK market is not worth that extra cost. If that’s not about Brexit I don’t know what is.
This will be true of many regulated industries if regulations diverge, and most industries with a supply chain across Europe too, so expect to see a lot of factory closures in the coming years, along with missed opportunities for new investment (for example Brexit was a significant factor in Tesla avoiding the UK, and financial services like EU clearing will probably gradually move toward the centre of gravity too).
You are in denial about the financial impact Brexit will have.
https://www.theguardian.com/technology/2019/nov/13/tesla-cites-brexit-as-germany-chosen-over-uk-for-european-plant-elon-musk https://www.theguardian.com/technology/2019/nov/13/tesla-cit...
https://www.reuters.com/article/us-britain-eu-clearing-exclusive-idUSKBN2011SS https://www.reuters.com/article/us-britain-eu-clearing-exclu...
https://www.theguardian.com/business/2019/feb/03/nissan-confirms-new-x-trail-will-not-be-built-in-sunderland https://www.theguardian.com/business/2019/feb/03/nissan-conf...
- DrBazza 7y agoBrexit will have a financial impact, but I don't believe it will be what everyone thinks it will be. The UK will likely have forgotten the 'light touch regulation' that in part caused the credit crunch, in the chase for bringing business to London in the mid 2000s. History will probably repeat itself: the current, or next Government will reduce regulation to encourage businesses to stay or locate in London. Banks will exploit it somehow. Cue next financial crisis.