Do you think the JOCKS will vote YES ?

[Bold Seagull]

As you can see in this thread, I'm a rank amateur at being a keyboard warrior compared to LI. If you've a spare hour it's worth reading the threads leading up to his self-imposed exile years ago. A master-class and no mistake.

I know, I was just pulling your leg - we haven't argued for ages, maybe I was just missing it a little.

 

[mwrpoole]

Typical..Do you honestly believe the financial markets would respond so negatively to this news if it was purely a change of header?Obviously the Scottish banks don't want to scare their account holders into withdrawing funds so are giving calm statements which suggest its not a big deal. Moving head office is significant and the Scots might well regret taking a hasty ' bloody hate the English' decision to separate, when they shoot their left foot off in the process.

I have an account with Lloyds with a relatively healthy balance. Currently all customers with UK banks are protected by the Govt up to £85,000.00, in case they go tits up and you lose your money. If they vote Yes and Lloyds stay in Scotland I shall be withdrawing my money prompto, as from what I've read that guarantee will be lost. Lloyds may not come close to ever collapsing again, but I won't be taking that risk.

 

[seagullsovergrimsby]

Typical..Do you honestly believe the financial markets would respond so negatively to this news if it was purely a change of header?Obviously the Scottish banks don't want to scare their account holders into withdrawing funds so are giving calm statements which suggest its not a big deal. Moving head office is significant and the Scots might well regret taking a hasty ' bloody hate the English' decision to separate, when they shoot their left foot off in the process.

If the sweaties vote YES and these banks relocate head offices to London any "Northern Rock" scenario with customers taking their money out is no longer the responsibility for the Scots

 

[London Irish]

Where am I crying about anything? I corrected you on where a company is resident for tax and subsequently asked if you were a financial journalist. You're now the one having a paddy. You...not me.

Is this the point where you get evermore aggressive in your posts? If so, we've been here before many times.

You didn't "correct", at charitable best you added some additional information, which we could have discussed reasonably but you fancied a little bit of aggro instead, which to be honest is often how you use NSC, as some kind of stress/anger reliever.

Happy to be of service on this occasion and hope you feel better about yourself

 

[Soulman]

Breaking News: Loch Ness monster announces it will move to Lake Windermere in the event of a Yes vote!!.

 

[Dick Knights Mumm]

Apologies for my part in that. I'll leave this thread.

No need Buzzer old fruit. It should be an interesting thread. Of course it has been monopolised. See the Rotherham thread.

 

[8ace]

The odds on 'NO' have shortened dramatically this am from 2/5 to 1/4, all over bar the shouting

Been a lot of big money for NO, WH laid their largest ever politics bet of £100k-£400k a few months ago. Probably been bigger since then.

 

[jakarta]

The money is going to come from higher taxation - ie. exactly how the UK was run between 1945 and 1980 before the Thatcherites came along and embarked on their project to screw over public services and the NHS.

Sorry I'm only just back from a longish day at work but thanks for (partly) answering my question. Higher taxation of who exactly and how do you know that they will choose to pay it?

 

[KingKev]

I have an account with Lloyds with a relatively healthy balance. Currently all customers with UK banks are protected by the Govt up to £85,000.00, in case they go tits up and you lose your money. If they vote Yes and Lloyds stay in Scotland I shall be withdrawing my money prompto, as from what I've read that guarantee will be lost. Lloyds may not come close to ever collapsing again, but I won't be taking that risk.

Lloyds is based in London, I believe. It's only the Bank of Scotland bit that isn't, so no need to be hasty. Plus any separation only comes into effect in 2016 - so chill.

 

[KingKev]

Sorry I'm only just back from a longish day at work but thanks for (partly) answering my question. Higher taxation of who exactly and how do you know that they will choose to pay it?

Part of the equation, I believe, may be higher VAT or a change to structure of VAT in Scotland - hence the banks have another reason for doing less business in / from Scotland as VAT is largely non-recoverable for Financial Services companies as they have no VAT-able outputs (banking services are essentially zero-rated).

 

[jakarta]

Part of the equation, I believe, may be higher VAT or a change to structure of VAT in Scotland - hence the banks have another reason for doing less business in / from Scotland as VAT is largely non-recoverable for Financial Services companies as they have no VAT-able outputs (banking services are essentially zero-rated).

Thanks, obviously VAT is non-negotiable for most people - one of the joys of my working life is being VAT registered and hence an unpaid Government Tax Collector....

 

[KingKev]

Lloyds is based in London, I believe. It's only the Bank of Scotland bit that isn't, so no need to be hasty. Plus any separation only comes into effect in 2016 - so chill.

Oh and Lloyds also has one of the strongest capital bases among European banks and a low risk appetite, so the likelihood of you having to rely on the FSCS or a government bail-out is remote - and we'll all have way more to worry about than that if it were to come to pass as that would probably mean that the entire economy had gone completely t@ts up.

 

[seagullsovergrimsby]

Apparently the Big Big Debate which is being shown on BBC later this evening at 22.40 had too many youngsters turn up in the YES camp and they were told to sit in with the undecided and NO sections to make it look more impartial.

Katie ‏@KatieEwen123 2h
BBC telling kids to say they are voting NO because there was too many YES voters in audience! #BigBigDebate

 

[Jim D]

I can, British politicians have always been 100% clear they would not use the state ownership to interfere with the strategic decisions of board-level management. Whether management would consider a change...? Well RBS said they aren't.

And I'm sure that Nigel Farage is hoping that's the case too. He'd love it if it did happen as this government well knows. First of all it would be the jobs that should be given to the people of this country (and the tax revenue they would be paying) and then, when they started paying Corp Tax again, it would be the number of schools and hospitals that we could have built. It's bad enough when we see the things that big multinationals do to avoid paying taxes in the UK but when we have a Government that controls some of them and allows them to get away with it 'scot free' there's only going to be one outcome.

 

[wellquickwoody]

Is braveheart being played on Scottish tv this week?

If it is, we need the Italian Job to give a balanced view.

 

[jakarta]

Sorry I'm only just back from a longish day at work but thanks for (partly) answering my question. Higher taxation of who exactly and how do you know that they will choose to pay it?

Still waiting for an answer for this - is it Denis Healy levels of personal income taxation, big hikes in Corporation Tax, how exactly are the Pips going to Squeak?

 

[KingKev]

Basically it isn't the banks who have made a decision it is their majority owners

UKFI (I.e. The government) owns less than 25% of Lloyds, btw if that's what you were driving at.

 

[HOFNSKIN]

The Irish Brigands who form the UK Government have only one major worry, where to base the nuclear submarine fleet in the event of a yes vote. Apart from this major problem, Lord Snooty and his posh elitist mates could not really give a toss if Scotland chose to go it alone.

 

[Dick Knights Mumm]

The Irish Brigands who form the UK Government have only one major worry, where to base the nuclear submarine fleet in the event of a yes vote. Apart from this major problem, Lord Snooty and his posh elitist mates could not really give a toss if Scotland chose to go it alone.

Whoever said that Cameron will not want to be remembered as the Prime Minister who broke up the Union had it nailed. And in the short term they have the most to gain with the loss of Labour seats.

 

[beorhthelm]

Wrong, it is where the economic activity of a business takes place, otherwise every company in the UK would set up a letterhead in the Caymans.

that is a source of great contention, as we see with the likes of Amazon, Google etc., while we also see the likes of Abbvie buying Shire to redomicile, Pfizer accused of wanting Astrazenica for the same purpose, and many companies with no UK activities HQ'd and listed in London to gain favourable tax outcomes. aside from that, in the case of banks where they are regulated and do their business is where the economic activity occurs. RBS and Lloyds can hardly say they are based in an independent Scotland when backed by the BoE. which is the whole point, to retain that backing, they need to be seen to be correctly domiciled. as examples, HSBC and Standard Charterd are taxed in the UK on their prenominatly Asian business.