Just had our first contract cancellation due to Brexit. About £25k from a company that is a big importer of spices and pays in dollars. They are putting all investment and expansion on hold whilst they see how it pans out. Relatively small amount for us so not the end of the world, but this is a family business and employer.
Brexit thread - what happens next
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Remember that with the EUs brilliant CAP, food prices are artificially inflated in the EU anyway. In the UK the institute of economic affairs reckons by 17%. Given we import 40% of our food that would have to be a serious increase in importing costs to make up that ground.
http://www.iea.org.uk/blog/abolish-the-cap-let-food-prices-tumble
http://www.iea.org.uk/blog/abolish-the-cap-let-food-prices-tumble
Sterling down this morning again
Yup hit that 1.28 and rebounding - next drop is gonna be a bit of an ouch (probably will start seeing the first major casualties then).
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That's cause they couldn't agree between them. Look at Gove's annoucement yesterday that
Have you seen the exchange rates ?
Nah, we will just become a manufacturing export economy, easy right?
British people will be happy working 12 hours a day on an assembly line for minimum wage
Don't forget Leadsom wants to remove minimum wage, maternity rights and unfair dismissal laws scrapped.
It isn't impossible - the Asians are betting on 1.2 and that is before any article 50 stuff which the result of will be unpredictable.
We dont. Quite sadly we import 54% and only produce 46%. Expert opinion is that leaves any country very exposed.
For companies with fewer than three employees...
What exactly do you do in the City? What does your employer do? You are the only person that doesn't think this is bad. Every other person I've spoken to that's even remotely connected to the City thinks this is not just bad but potentially disastrous.
Soldato
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Fixed for accuracy....not quite as shocking now is it?
Funny from a guy who completely dodged the exact same question when someone else asked you that. I work in capital markets for a major bank. Yes most people in the city thought remain would be best for the city, but I have many colleagues/friends who voted leave because they understand the bigger picture rather than panicking.
Yeah I know. So we going to see 1000s of small business set up then based of slave labour?
Still massively shocking that anybody could even consider this. Why does working for a small business means you have zero rights as an employee?
Which makes up the bulk of companies in the UK....
It would be hard to find the exact number but to give that context
estebanrey said:
Yes it still is
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Man of Honour
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I think the rest of Europe will end up being closer and stronger when they see what the alternative is with their own eyes. I don't think the Euro is going anywhere.
That is only because they are 1 man bands doing it for tax reasons as a contractor. Filter them out and the number would be insignificant.
Regardless, Leadsom isn't going to win.
There is a large amount of opposition to getting closer now. They certainly won't be stronger if they did.
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No you won't. The extra cost of administering all those companies would preclude it.
How many of those companies have more than one employee (i.e. isn't a self-employment situation) and less than four?
I'm not defending these proposals btw - I'm generally in favour of worker's rights, but you can see the intention here is to help smaller businesses like painters, plumbers and gardeners, not to re-introduce serfdom. Again not saying I agree with it, but it puts a different slant on things.
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