I am no expert on this but what I have heard revolves around the idea I suppose that the ban remains in the EU and therefore this should attract foreign based staff to the UK. Add to this the fact that their highest tax rate will be 40% and you can perhaps understand some form of rationale behind the plan announced by the Government.
I doubt whether anybody on this forum will benefit directly, but with 'x' number of high net worth individuals coming to the UK, they will start the trickle down effect. Possibly, possibly not, but it will differentiate us from the EU marketplace (rightly or wrongly).

hats off to palace, they were always gonna be louder, and hate to say it but they were impressive ALL bouncing and singing.

I agree, it's a balancing act.

Part of me sees the sense in using and expanding this nationally strong sector to compete outside the more restricted EU....while also recognising that the sector is full of wealthy gutter types.

You always worry with the Tories that they are more interested in helping themselves and their mates than anything else.

I'd like to see an attempt to build up industry in other areas than just financial....The last two years of decisions have essentially steamrolled the service sector and I'm not seeing how a barrel load of small businesses don't continue to close....the help offered isn't going to cut it.

Edited by Stirlingsays (26 Sep 2022 5.26pm)

'Who are you and how did you get in here? I'm a locksmith. And, I'm a locksmith.' (Leslie Nielsen)

which is why Brexit was such a bad idea for the City. I think i recently heard that the city has lost 7k bankers in the last few years. I did work in the city (as a support manager, not a trader) and many of the traders were bi-lingual Europeans based in the UK.
Not only would Brexit make it more difficult for them going forward, it forced all financial companies to have a bigger EU presence once the UK voted to leave. So many of these 'lost' traders have just gone back to Paris, Madrid, Brussels etc.

In my opinion it's not a government's role to tell private sector employers how to remunerate their employees. Footballers are remunerated beyond the wildest dreams of most bankers, so why not ban them from receiving bonuses? In any case, banning bonuses is simple to circumvent by paying a higher salary instead.

Palace since 19 August 1972. Palace 1 (Tony Taylor) Liverpool 1 (Emlyn Hughes)

Unlike say a steel mill (difficult to move) there are lots of ebbs and flows in the Financial Sector, there always has been.

Post Brexit a lot of fuss was made over several thousands jobs going to the EU meanwhile not a lot has been said about the tens of thousands of FS jobs that have gone to Indian call centres and other low cost locations over the last 20 years.

I think I read recently that some of the EU jobs have since come back, the money will always follow the best deal.

Edited by Badger11 (26 Sep 2022 6.30pm)

One more point

'It's a piss-take' - Starmer.