Tag Archives: Remainer

Brexit Britain’s platinum age! City champion rejects Remainer NatWest chief’s pessimism

Professor Daniel Hodson, chairman of the City campaign group the CityUnited Project, was speaking hours after Howard Davies, the bank’s chairman, suggested the “golden age” of London being Europe’s financial capital was coming to an end in the wake of quitting the bloc. Mr Davies was commenting after banks including Morgan Stanley and JP Morgan confirmed they had relocated jobs to the continent – albeit in significantly lower numbers than initially predicted by doommongers after the 2016 referendum.

However, Prof Hodson moved swiftly to dismiss his concerns for the future.

The leader of the new Aurora Initiative for a Central Bank Digital Currency – nicknamed Britcoin by among others Chancellor Rishi Sunak – told Express.co.uk: “The golden age for the City will be surpassed by the new platinum age that is now coming.

“The important decision making and the value added part of transactions remain firmly rooted in London.”

Prof Hudson added: “The business moved to the Continent was predictable and expected.

“The City now has the independence and momentum to build on its global regulatory and FinTech leadership, its deep and diverse multi-currency markets and its Common Law heritage.

“The CUP’s Aurora Central Bank Digital Currency initiative could be an early glittering prize to be seized.”

JUST IN: Boris’s Brexit deal repeals key law which binds UK together

The City has been largely cut off from the EU since Britain’s full departure on December 31, 2020, with bankers and City officials not expecting any direct access to the bloc anytime soon.

In a column for Project Syndicate on Tuesday, Mr Davies said: “Almost five years after the Brexit referendum, and five months after Britain’s exit from the European Union, the future of London as a global financial centre seems secure.

“But although the City will remain Europe’s largest financial marketplace, its Golden Age as Europe’s financial capital is over.”

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The debate about the future of the City so far has remained a “dialogue of the deaf” as backers of Brexit say the hit would be minimal, while opponents of leaving the EU forecast “gloom and doom”, said Mr Davies, a former Deputy Governor of the Bank of England and Chairman of the UK Financial Services Authority.

COVID-19 has confused the picture, making it harder for staff to relocate from London to the EU, he said.

Trading in euro shares and swaps shifted from London to the continent, but it will take time for any putative rival in the EU to develop a plausible matching offer, he explained.

Bankers want Britain to focus on making the City more attractive for global investors and Brussels is scrutinising Britain to see how far it will go in diverging from EU rules.

David Frost, the UK minister in charge with ties with the EU, said yesterday it was important for Britain to use its freedom from the bloc to de-regulate in the most productive way possible.

He told MPs: “We are looking at financial services regulations and seeing what we can do now we are able to move on from EU arrangements in financial services.”

The Minister for European Affairs is setting up a new unit to start a “journey that will bring huge benefits”, he said.

NatWest has slashed back its overseas operations since its balance sheet ballooned to bigger than the size of the UK economy before requiring a government bailout in 2008 during the financial crisis.

However, its minnow investment bank NatWest Markets retains a presence in the eurozone in Amsterdam, which the bank bulked up ahead of Brexit.

Earlier this month, EY’s Brexit tracker estimated roughly 7,500 jobs and £1.2trillion in assets have left the City since the UK voted to quit the EU in 2016.

However, the figure is significantly lower than wild projections in the aftermath of the referendum result, including by Xavier Rolet, former chief executive of the London Stock Exchange, who claimed more than 230,000 jobs could be lost.

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This post originally appeared on Daily Express :: Finance Feed

Kirstie Allsopp defended Brexiteers after 'pointless' clash with Remainer: 'Unpleasant'

Christmas: Esther Rantzen and Kirstie Allsopp clash on rules

The TV star returns to screens tonight on Channel 4’s Kirstie and Phil’s Love It Or List It. Allsopp has been a presenter for more than two decades and rose to prominence with shows including Location, Location, Location and Relocation, Relocation. The star hit the headlines this month after she vowed to “take a break” from Twitter following clashes with “unpleasant people” online.
The 49-year-old claimed to have been “bogged down fretting” about the offensive remarks and had forgotten “the vast majority of people are good and kind”.

She vowed to return to the social media platform “after Easter” and claimed she needed a break from online trolls.

While Allsopp has often moaned about the abuse she has received, the star regularly enters into heated debates on Twitter. 

Many of them in recent years have been about Brexit and people’s “bigotry” towards those who voted Leave in the 2016 referendum.

Kirstie Allsopp passionately fought against those who insulted elderly Brexit voters (Image: GETTY / CHANNEL 4)

Kirstie Allsopp and Phil Spencer appear on Channel 4’s Kirstie and Phil’s Love It Or List It (Image: CHANNEL 4)

In February, Allsopp lambasted the Government for how small businesses had been “hugely impacted” since leaving the bloc.

She claimed the aftereffects of Brexit were felt “across the board” and needed “much more attention”.

The star tweeted: “Don’t let our Government use Covid as a distraction. This is a s***show.”

JUST IN: Kirstie Allsopp forced to ‘take a break’ from Twitter after trolling

Kirstie Allsopp rose to fame on TV shows including Location, Location, Location and more (Image: GETTY)

In 2018, she fought against those who branded elderly Brexit voters with derogatory terms.

Leave was voted for by 52 percent of the UK, of which 53.4 percent came from England. 

A 2019 poll from businessman Lord Michael Ashcroft, found older people were “more likely to have voted to leave the EU”.

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Express.co.uk highlight the ‘flip-flopping’ Keir Starmer has shown towards Brexit (Image: EXPRESS)

The majority of people under 45 voted Remain, where the highest count was found in the 18 to 24 age group with 73 percent. 

The poll reported that 60 percent of the people aged above 65 voted for Brexit, followed by 57 percent aged 55 to 64 and 56 percent of those between 45 and 54.

The EU referendum result led to a spate of verbal abuse against those who voted Leave.

Allsopp fired back after one 2018 tweet from a man, who identified himself as a Liberal, which noted “two elderly men” who voted for Brexit.

Kirstie Allsopp has defended elderly Brexiteers a number of times on Twitter (Image: GETTY)

She described his tweet as “pointless” and claimed it was similar to a remark she heard three weeks after the referendum.

Allsopp wrote: “A friend said, ‘Idiots, bigots and people smelling of wee have got us into this situation’.

“I asked him, ‘What wasn’t bigoted about describing old people as ‘smelling of wee’?’

The One Show: Alex tells Kirstie Allsopp she has ‘bad signal’

“I feel similarly about your tweet, it’s pointless and encourages unpleasant stereotypes.”

Another Twitter user replied to Allsopp’s comment and argued: “I’m old and hopefully I don’t smell of wee!”

They continued: “As are many of my friends of similar ages!”

Allsopp praised the individual and stated: “Exactly, which is why I hate these ‘elderly = Brexit’ tweets.”

Express.co.uk revealed five key moments that led to Brexit (Image: EXPRESS)

Prior to her recent Twitter hiatus, Allsopp left the platform in 2017 after being criticised for arguing that washing machines didn’t belong in the kitchen.

She was accused of “snobbery” and “privilege”, before she signed off with the tweet: “I’m over and out, it’s been a blast but enough is enough.”

In the Guardian, she linked the British public’s opinions about which room a washing machine belonged with Brexit.

Allsopp argued that we are “one of the few countries” with that “habit” and said the referendum results made it “very clear” how the nation felt about advice.

Kirstie Allsopp was forced to deny she was taken on by the Conservative Party as an advisor recently (Image: GETTY)

She continued: “The British think the way we do things is the right way – better than anyone else’s.”

Allsopp warned that pointing out “something we do is peculiar” would definitely lead to a backlash.

She wrote: “You had better brace yourself because it doesn’t go down well”.

Kirstie and Phil’s Love It Or List IT airs at 8pm tonight on Channel 4.