Latest: UK economy growth 0 EU economy growth 1

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Big chest and massive boobs

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By financial services, do you mean that Malta offers 'tax efficient' solutions for corporations registered in the country?

I.e., it is a tax haven and its income is largely built on tax avoidance?

"That was fun and to round off the day, I am off to steal a charity collection box and then desecrate a place of worship.” - Smokey, The Selhurst Arms, 26/02/02

You didn't report that fairly, did you Michael?

That report states that 'year on year' growth is around 2% for both the UK and Eurozone, meaning that Brexit, or more accurately imminent Brexit, has not harmed the economy.

Must stick in your craw after all those CBI scare stories you have posted on here, stating that Brexit would result in us living in some sort of a post apocalyptic version of hell.

Edited by matt_himself (06 Jul 2017 1.43pm)

"That was fun and to round off the day, I am off to steal a charity collection box and then desecrate a place of worship.” - Smokey, The Selhurst Arms, 26/02/02

Michael, there was no celebration from me. I merely pointed out that you were not being 'totally straight' with your reporting and further point out that pretty much every single matter you have posted about Brexit and EU is either false, fanciful or exaggerated.

"That was fun and to round off the day, I am off to steal a charity collection box and then desecrate a place of worship.” - Smokey, The Selhurst Arms, 26/02/02

Malta's financial services offer companies a full range of corporate services as found in the UK or any other large economy and also wealth management in the same way for individuals, again services that can also be found in the UK. Corporation tax is lower in Malta than the UK but so are several other countries. Using the term 'tax haven' is a misnomer because the UK offers corporation tax levels lower than Germany for example, so the UK could be seen as a 'tax haven' also in that respect. Personal income tax levels are lower in Malta than the UK and several other countries but the country doesn't have massive infrastructure to support.

I see that the EU have just completed a trade deal with Japan. Took just over 2 years to negotiate.

Can anyone tell me if we are going to get a better trade deal with Japan now we aren't part of the largest trading block in the world.

No they haven't. They've agreed an outline to a trade deal - they say it could be many years before anything is signed

"However, few specific details are known and a full, workable agreement may take some time.
Two of the most important sectors are Japanese cars and, for Europe, EU farming goods into Japan.
The outline plan was signed in Brussels after a meeting between the Japanese Prime Minister, Shinzo Abe, and the European Commission president, Jean-Claude Juncker."

I understand that. What I put to you was that the UK's year-on-year growth is the same as the EU and slightly better than the Eurozone's. Judging imminent Brexit on one quarterly economic report appears flimsy and politically driven.

"That was fun and to round off the day, I am off to steal a charity collection box and then desecrate a place of worship.” - Smokey, The Selhurst Arms, 26/02/02

The Panama papers talk about several countries but again. Malta is a small country, so easy point a finger at but at the end of the day every country including the UK has 'allegations' against it. What is true though is that Malta's economy has always been good, even in times of recession such as 2008-2012.

With regards to tax avoidance you mentioned earlier, are you sure you know what that term means? Millions of people in the UK use tax avoidance methods such as putting money into pension plans instead of regular investments, diverting £billions away from the treasury each year. People also use accountants and financial advisers to avoid paying tax in a myriad of other areas such as BTL properties, company cars and other assets for the self employed etc.

I know it won't make your attempted case better but I'm not Maltese, sorry to disappoint you. You also need to learn the difference between tax avoidance and tax evasion - big difference that you seem not to understand.

Edited by europalace (06 Jul 2017 3.48pm)

In any healthy economy a weakened currency will pay when it comes to exports. Unfortunately in the UK's case this is not so. The UK's 'manufacturing' industry is in reality an 'assembly' industry. It assembles basic components to make an end product of export. However, few if any of the basic component inventory are manufactured locally, they are imported. This makes the cost of UK 'manufacture' negatively affected by a weak Sterling. These imports are of course exports from the EU in many cases, helping keep the Euro strong and leading to the ECB continuing its policy of QE in order to offset that strength.