Welcome to Finance and Fury, the Furious Friday edition.

Today we are discussing what is happening with Brexit?

At the time of the release of this episode, we will be approaching the 11th hour of the 2nd deadline to negotiate a deal for the UK to leave the EU. Why would it be grim and awful as they put it?

Today:

Start at the beginning:

  • The referendum to leave the EU 23rd June 2016
  • Between then and March of 2017 it was business as usual, and then the UK served their withdrawal notice
  • Invoked article 50 of the Treaty on European Union which sets out a 2 year plan to leave the EU
  • That negotiation period expires on the 12th of April 2019
  • The leaving agreement must set out arrangements for withdrawal
  • The agreement must then go through a few bureaucratic systems

So what is behind all the mess?

  • UK conservative party lead by Terresa May
  • They established the department for International Trade (DIT)
  • There has been a lot of back and forth between the UK and the EU
  • The UK is being made an example of
  • 2 years down the track, where are we now?
  • The EU has been the better negotiators even though the UK is in the position of power
  • The contents of this agreement are only that it sets up a transitional period of further deliberation to be in the EU until December 31st, 2020
  • This is essentially the UK still being apart of the EU but without a vote
  • How has the deal been going in UK parliament?

 

Failure to negotiate:

  • Article 50 provides for a negotiated withdrawal
  • If there is no deal, The EU treaties cease to apply
  • The EU technically can’t block them from leaving
  • If there is no agreement, then trade falls back onto the world trade organization rules on tariffs and trade
  • The EU operates similarly to a cartel
  • What is Gibraltar?
  • The financial sector seems to benefit more from being a part of the EU
  • Why is it so beneficial for Financial services to be a part of the EU?
  • The UK is now ranked the 2nd largest global conduit for corporate tax haven policies

 

Summary of the racket:

  • Firms will set up a letterbox office in the City of London
  • Then there will be subsidiaries in other EU countries
  • One charges the other for intellectual property, and you essentially write off profits
  • You have other countries wanting to do trade deals with the UK, without going through the EU

 

Next Friday:

  • Finish off the series
  • How the tax racket works
  • Who is behind the “grass roots” remain protest organisations

Thank you for listening, if you want to get into contact you can do so here

(Intro Series) The wrap up party

Intro - Episode 6 The wrap up party Hey guys! Welcome to the wrap up party for this little intro series Well done if you’ve made it to this point listening. I know a lot of it could have come across pretty confusing …and don’t worry I was quite confused myself by this...

How to not get screwed over when buying property

Episode 28 How to not get screwed over in property, the warning signs of scams and how to do your property research Warning signs of scams Off the plan/cold calling companies Buying off-the-plan, or purchasing a property that has yet to be built – The time between the...

Furious Friday: The Great Depression – Are the solutions actually what created it?

Welcome to Finance and Fury the Furious Friday edition If you have been paying attention to the news then you would know about the current GDP per capita recession. Today we will look at recessions and different policies to help boost the economy. It is all apart of...

Is Disability Insurance redundant now with the introduction of the NDIS?

Welcome to Finance and Fury, the Say What Wednesday Edition This week’s question comes from John. Hey Louis, Really enjoying your latest episodes, thanks again for the great content. I saw recently there was a question raised around superannuation reform that TPD...

Goals and Risk profiles, and Philosophy and Strategy workbook guides

Welcome to Finance and Fury Today we will be going through the workbook itself How to put the goals and risk profiles together How to work out the investment philosophy and strategy How to put together the investment plan and checklist Three downloads - Found on the...

How to use your home for Investments

Welcome to Finance and Fury Today we have Jayden here, and we will be talking about using your home for as an investment and as a forced savings account. You can start turning the bad debt into good debt. Through paying down the loan quicker, and then redrawing on the...

The number of homes being put up for auction across Australia has plummeted as falling property prices and fewer cashed-up buyers shake the confidence of owners looking for the right time to sell

Episode 25 The number of homes being put up for auction across Australia has plummeted as falling property prices and fewer cashed-up buyers shake the confidence of owners looking for the right time to sell The decline of auction rates and confidence in the market...

Furious Fridays: Road to Socialism – Part 2

Welcome to Finance and fury, the Furious Friday edition. Today’s episode is Stages to Socialism part 2, so if you haven’t listened to last Friday’s episode it might be worthwhile doing so. To start I want to talk about oranges. They’re a delicious fruit, they grow on...

Say What Wednesday: The best way to save for your children

Welcome to Finance & Fury, the 'Say What Wednesday' edition, today we have a question from Mila: Question We are expecting our first child very very soon, so what is the best way to invest money for your children, apart from the obvious solution of having a dedicated...

Say What Wednesday: First Home Super Saver Scheme

Say What Wednesdays First Home Super Saver Scheme: Using superannuation to buy your first home Today’s Say What Wednesday question comes from Emma, and relates to saving for a house deposit: “Hi, thanks so much for the podcasts - I have learnt so much. My question is...

Pin It on Pinterest

Share This