Brexit - Where everyone is going

[original PM]

I hope Dublin has the skill base to cope...

or actually will it to actually employ local people but just employ the same people now in a different country?

[sasguru]

I hope Dublin has the skill base to cope...

or actually will it to actually employ local people but just employ the same people now in a different country?

The talent will move to where the jobs are.

[BrilloPad]

The talent will move to where the jobs are.

So you are moving to the asylum as chief cretin?

[original PM]

The talent will move to where the jobs are.

So from a UK perspective if these companies still want to employ the people they currently employ in the UK they can because

a) They are EU but not UK citizens and so can continue to work in EU
b) they are UK citizens but can get a 'visa' to work in the EU (remember no one has ever said Brexit means no-one from the EU can work in the UK just that there has to be a need and a process to stop unfettered access)

So......

not sure where this thread is going - obviously trying to be a doom and gloom brexit is tulip thread but reality is not really that....

[sasguru]

not sure where this thread is going - obviously trying to be a doom and gloom brexit is tulip thread but reality is not really that....

You never were.
If jobs move abroad and the talent follows them, the UK economy will inevitably decline from (1) lack of brainy people compounded by (2) lack of the taxes they would otherwise pay. Then it becomes a vicious cycle. New companies don't relocate because there no talent. Economy sinks further. And so on. If a financial cluster develops in Dublin, new entrants, fintech and the like will base themselves there.
You only get the headlines for the big cos, but I know several medium sized ones in my sector are going too.

[Eirikur]

The talent will move to where the jobs are.

Yes but they won't be spending their money in the UK anymore so especially people in lower paid jobs (many of them voted for Brexit) will lose their jobs as a result

[worzelGummidge]

I put this up for info really.
I don't much like the idea of all this Brexit nonsense. It reminds me of Suez.
However if that's the way it is then so be it.
I think that I will try Dublin if it comes to it.
I would prefer to not too have to learn German and Frankfurt is further, even though I do like Germany.

[squarepeg]

I believe you but the real questions to be asked are, how do you know and exactly how important and how large will the UK operations be?

They are moving a lot of jobs abroad for sure, but it's not like the people who stay will have nowhere to work, the startup scene is not going away, the FinTech sector will employ some of them, and the UK banking operations will have to keep up with the changes in legislation and technology, so they will employ local people again. Some people will set up their own companies. I'm looking at the EU banking legislation and related initiatives and I see bright future for the IT people in the finance industry. The good ones, of course. The crappy ones should be worried.

[darmstadt]

They are moving a lot of jobs abroad for sure, but it's not like the people who stay will have nowhere to work, the startup scene is not going away, the FinTech sector will employ some of them, and the UK banking operations will have to keep up with the changes in legislation and technology, so they will employ local people again. Some people will set up their own companies. I'm looking at the EU banking legislation and related initiatives and I see bright future for the IT people in the finance industry. The good ones, of course. The crappy ones should be worried.

Fair enough but if many of these financial institutions do go ahead and move jobs abroad then there will be quite a few people out of work because remember, behind that whole City facade there is an infrastructure of people who rely on these companies. Everyone from the cleaner to the Barista to the waiter and so on. Then there is the knock.on effect to suppliers and so on. Everyone just sees that maybe a 1000 jobs will go from this and this company but that 1000 may well have 20 or so other people n subsidiary industries who rely on them.

[squarepeg]

You never were.
If jobs move abroad and the talent follows them, the UK economy will inevitably decline from (1) lack of brainy people compounded by (2) lack of the taxes they would otherwise pay. Then it becomes a vicious cycle. New companies don't relocate because there no talent. Economy sinks further. And so on. If a financial cluster develops in Dublin, new entrants, fintech and the like will base themselves there.
You only get the headlines for the big cos, but I know several medium sized ones in my sector are going too.

You forgetting quality of life. Dublin may be English-speaking but it's not like it or Ireland is many people's first choice. Also, who knows how the NI situation will develop in the future? Let's hope for peace, but right now I am not thinking of moving to Dublin. I am seriously considering incorporating my next business there (or in Estonia), but I would not want to live there unless I absolutely have to.