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Derek Flint

BREXITWATCH

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Well, the time has come. The transition has started. And as qualified on the news last night, still nobody knows what this is going to look like for the UK, let alone the Isle of Man. 

It seems a sensible time to start a hopefully sensible and measured thread for commentary on how the transition is affecting the Island. This may be for good or worse, we don’t know. So as things develop, let’s identify and analyze them.

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53 minutes ago, Derek Flint said:

Well, the time has come. The transition has started. And as qualified on the news last night, still nobody knows what this is going to look like for the UK, let alone the Isle of Man. 

It seems a sensible time to start a hopefully sensible and measured thread for commentary on how the transition is affecting the Island. This may be for good or worse, we don’t know. So as things develop, let’s identify and analyze them.

I’ve never felt Brexit will have a positive outcome for the IOM and I still don’t. We now potentially have a country that will be pursuing a low corporate tax agenda, that already has light touch regulation, and which is very forward focused sat right on our doorstep. It’s hard to see why any business would come to the IOM with these sort of options likely now available out of the UK. In fact we’re already seeing larger operators here look to re-domicile back to the UK now the Brexit pathway seems clear. We’re also seeing a big focus by Boris to placate the northern cities that turned their back on labour which helped him get in. They’ll be pumping billions into those Northern Powerhouse cities which are again right on our doorstep offering a lower operating cost base, better business facilities, and better infrastructure than the IOM. Plus it’s still unclear how the customs union is going to work moving forward and a lot of corporate activity here relies on the our interaction with the customs agreement with the UK and onwards to the EU. Sadly unlike other crown dependencies we still collect more each year in VAT share than we do in direct taxes so this too could have a considerable impact to our finances. 

Edited by thesultanofsheight
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The UK can now call themselves "The Mainland", instead of being Europe's pawns.

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1 hour ago, Derek Flint said:

 

It seems a sensible time to start a hopefully sensible and measured thread for commentary on how the transition is affecting the Island.

good luck with that.        :)

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All is not lost, we have the guiding hands of the Quayle administration which, with its professionalism and long-sighted preparedness will be our rock. Its unstinting efforts in ensuring this Island's, and its people, a future of continuing prosperity should make us all sleep soundly in our beds...

Edited by quilp
Will this do Howard..?
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4 minutes ago, quilp said:

All is not lost, we have the guiding hands of the Quayle administration which, with its professionalism and long-sighted preparedness will be our rock. Its unstinting efforts in ensuring this Island's, and its people, a future of continuing prosperity should make us all sleep soundly in our beds...

At least we haven’t lost our sense of humour.

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1 hour ago, thesultanofsheight said:

I’ve never felt Brexit will have a positive outcome for the IOM and I still don’t. We now potentially have a country that will be pursuing a low corporate tax agenda, that already has light touch regulation, and which is very forward focused sat right on our doorstep. It’s hard to see why any business would come to the IOM with these sort of options likely now available out of the UK. In fact we’re already seeing larger operators here look to re-domicile back to the UK now the Brexit pathway seems clear. We’re also seeing a big focus by Boris to placate the northern cities that turned their back on labour which helped him get in. They’ll be pumping billions into those Northern Powerhouse cities which are again right on our doorstep offering a lower operating cost base, better business facilities, and better infrastructure than the IOM. Plus it’s still unclear how the customs union is going to work moving forward and a lot of corporate activity here relies on the our interaction with the customs agreement with the UK and onwards to the EU. Sadly unlike other crown dependencies we still collect more each year in VAT share than we do in direct taxes so this too could have a considerable impact to our finances. 

I believe that you're bang on the button but if faced with any competition from the island HMG will now start to use any means at its disposal to eliminate it.

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Baron Boot hobnails it. Unfaltering in the face of the almost Paxmanesque grilling from renowned local journalist, John Moss. Twice a week his department are in contact with DEFRA, ensuring this nation's interests are best served. What more could we ask for? 

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3 minutes ago, quilp said:

Baron Boot hobnails it. Unfaltering in the face of the almost Paxmanesque grilling from renowned local journalist, John Moss. Twice a week his department are in contact with DEFRA, ensuring this nation's interests are best served. What more could we ask for? 

Luckily for us post Brexit he’s now in charge of both the spuds and the herring, 

Edited by thesultanofsheight
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looks like he's employed ken dodds   barber and dentist , maybe even his taylor.

 

 

sorry Derek, had to be said.

Edited by WTF
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5 minutes ago, asitis said:

He's a count ! or some title ! won't affect him !!

autocorrect   ??

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Brexit will be a disaster for the Isle of Man because it will be a disaster for the UK and the only route they will have to pursue to try and keep the money coming in will be Singapore-on-Sea.

The frankly bizarre support for it from some on the Island - rooted in the same sad nationalism that we've seen in the UK (where many 'remain' supporters have been told the equivalent of if they don't like it there's a P and O Ferry in the morning) - really does beggar belief.

I've never understood why Manx sentiment always sides with the English over all of the other four nations that surround us. They may be the most affluent nation, but they have the worst instincts. And Brexit is an extension of that.

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I remember Jim Mellon telling us all in 2016 how Brexit would be wonderful for the Island. Is he still here ?

WTF is knocking it out of the park this morning. I think we're going to need his sense of humour.

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