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Cornish Jack 14th Jun 2022 08:37

EM - that's the one !
Our unworldly contributor possibly missed the programme, but the hapless Philp was attempting to square the circle of selling houses for (say) £150k and replacing the same number from the proceeds (with building costs at (say) £300k.).
We are truly blessed with the quality of our Ministerial appointments and their uncritical, even supportive, followers.

Right20deg 14th Jun 2022 08:48


Originally Posted by alfaman (Post 11245836)
Venture capital isn't necessarily a good measure of economic health or well being anyway. It's a high risk investment; like using how the volume of money spent on the horses at Ascot as a measure of how well the surrounding shops & factories are doing...

But....The investments are coming to US...US..... US and not ....them...them...them.
A disappointment for the knockers and depressives, I do appreciate your position.
A chance for the unemployed and unemployable to freshen up, grab a haircut, loose some tats and kilograms and hot foot it over to where the action is.
Redistribute some of that wealth into their own pockets.

wiggy 14th Jun 2022 08:54


"President Macron will be choking on his croissants this morning," joked Chris Philp, the minister for the digital economy, as he announced the data at the opening of London Tech Week.
Ah, when rational thought fails more "yeah but Grr Macron" from the Brexit Brigade.

Different country, different system, different metrics...if anybody is deluded enough to think President Macron sits down in the AM and asks or is even concerned about venture capital UK vs. France, then they are seriously deluded and/or readers of the Mail and the Express.


Krystal n chips 14th Jun 2022 09:19


Originally Posted by Right20deg (Post 11245844)
But....The investments are coming to US...US..... US and not ....them...them...them.
A disappointment for the knockers and depressives, I do appreciate your position.
A chance for the unemployed and unemployable to freshen up, grab a haircut, loose some tats and kilograms and hot foot it over to where the action is.
Redistribute some of that wealth into their own pockets.

Oh quite !

After all, when this Gov't has removed £20 pw from U.C and for those employed on the minimum wage / zero hour contracts, naturally with the largesse and compassion for which this Gov't is noted, the resulting investment income will naturally be redistributed accordingly to those mentioned...heaven forbid it would be kept for the exclusive use of a small, select, group of organisations and individuals....and their own bank accounts although this is, presumably, what you meant in your last line. .


So we can add socio economics to the infinite list of the parallel universe's " grasp of reality ".

ATNotts 14th Jun 2022 10:06


Originally Posted by Right20deg (Post 11245844)
But....The investments are coming to US...US..... US and not ....them...them...them.
A disappointment for the knockers and depressives, I do appreciate your position.
A chance for the unemployed and unemployable to freshen up, grab a haircut, loose some tats and kilograms and hot foot it over to where the action is.
Redistribute some of that wealth into their own pockets.

Have you ever stopped to ask yourself why? I would suggest that "Vulture" capitalists may find it easier to fatten up then flog on a fledgling tech companies based in UK to some overseas based business (usually American or Chinese) and take the longer taerm economic benefits for the UK with them than they might if our "croissant loving" friends over the Channel got the investment. Have you ever wondered why it is that the likes of Renault, PSA, Dassault, Danone, EDF....the list is much longer than that but you get the picture remain French owned with jobs largely in France??

As an employee or a customer just about the worst possible outcome for a business is getting investment from venture capitalists. look at Monarch Airlines, the UK steel industry, Boots and just now Morrisons Supermarkets. The latter is cutting staffing levels to the bone (I have been in my local store this morning - just one checkout open and long queues at it, unsurprisingly, and their latest wheeze is to sell of the food production arm of Morrisons which has given them continuity of supply and decent quality meats in particular. No other supermarket has this vertically integrated model and it works, but the venture capitalists can fatten their wallets by flogging the farms and processing plants on. Brilliant, but not for the employees or customers and hence the business long term.

Rant over!!

blimey 14th Jun 2022 10:22


Originally Posted by Effluent Man (Post 11245685)
Would that be the same Chris Philp who appeared on Question Time last Thursday and had the whole audience laughing at him due to his sub Abbot sub Patel mathematics skills?

That's the one. The one with a first class physics degree from Oxford.

alfaman 14th Jun 2022 10:30


Originally Posted by Right20deg (Post 11245844)
But....The investments are coming to US...US..... US and not ....them...them...them.
A disappointment for the knockers and depressives, I do appreciate your position.
A chance for the unemployed and unemployable to freshen up, grab a haircut, loose some tats and kilograms and hot foot it over to where the action is.
Redistribute some of that wealth into their own pockets.

Right, so it's about "us & them" - how mature. How do the "unemployed & unemployable" benefit from this largesse, exactly? It's money already committed, often to vanity projects that'll go nowhere, not bonus money for those in need. None of the unemployed or unemployable people I know need a haircut, dietary advice or body art removal, they need a sound economy based on frictionless trade & a mature ethical foreign policy, designed to create the jobs that create the wealth; not the farce created by the disaster capitalists we have in charge at the moment.

Mr Mac 14th Jun 2022 10:35

Right 20
The reason venture capitalists like UK companies is that many are currently under valued, with relatively cheap share price and ergo cheap to acquire. That, and the fact that the UK will let anybody buy anything regardless of any strategic value to the country means it’s a happy hunting ground. My wife who used to work with two of the large US ones, is very sanguine as to what they are, and what they are good for, but would probably agree with ATNotts view.

ATNotts
No surprise with Morrisons as the same was done to ASDA after Walmart sold it and it is done to cut the cost of the takeover and sell some family silver so to speak. The venture capitalists who pony up the money will then look to move these on again in a period of time say 10 years for this size of business. It is a gamble for them, and they do not always succeed, but when they do, and the business grows they do very nicely. However the cost is that the failures, which have had that “family silver” sold already, can become Zombie companies, which ultimately fail. You can look around the UK stock market and industry and find many such examples. My wife enjoyed her time with them and it was very lucrative, but she is now involved with a business, that as she says actually makes things and looks after there employees, but she is also concerned as their market cap is making them attractive to corporate raiders,,and there is little they can do about it.

Cheers
Mr Mac

Effluent Man 14th Jun 2022 11:05

Blimey, Maybe Philp just lacks transferable skills then. He should be running around in a white lab coat with a bubbling test tube in each hand and a startled look on his face.

Sallyann1234 14th Jun 2022 11:15

Of course, it helps anyone buying up the UK's remaining few home-owned industries when the pound is now so cheap.
https://www.fxstreet.com/news/pound-...w-202206140335

Mr Mac 14th Jun 2022 21:16

Sallyann1234
Sorry forgot to mention that !

Cheers
Mr Mac

Una Due Tfc 14th Jun 2022 22:13

It’s like watching political Stockholm Syndrome in action with the Tory voters right now. As a concerned neighbour watching on I find it utterly depressing, but then seeing NI, whose economy is now actually doing well for the first time in decades being sabotaged by troglodytes in the DUP for an outdated, minority ideology is truly tragic, and if the impact of all this a bunch of nutcases reverting to form and risking innocent lives in Dublin, London, Belfast, Manchester, Birmingham all over-again..... I despair at the cheerleaders watching and applauding this madness.

Effluent Man 15th Jun 2022 06:45

But..but it's sovereignty innit?

occasional 15th Jun 2022 07:02

Seems more like idiocy. As far as I am aware there is nothing that requires border checks for what is currently only
a theoretical problem.

LowNSlow 15th Jun 2022 10:15

occasional, pardon? Could you explain that please.

Krystal n chips 15th Jun 2022 10:48

Amendment : " Lies, damned lies, and the vacuous Ms Truss statistics "

A poll, helpfully conducted c/o one Lord Ashcroft certainly helps skew the figures, but, elsewhere, others suggest maths and statistics can be added to her infinite list of ineptitudes.....nice photo-op of the Hi Viz vest however, and a subtle backdrop notice.

Northern Ireland Protocol: Is Truss right about public opinion? - BBC News

occasional 15th Jun 2022 20:45


Originally Posted by LowNSlow (Post 11246404)
occasional, pardon? Could you explain that please.

If goods are crossing the border illegally there is no particular reason that this has to be picked up at the border. It could perfectly well be dealt with at the final destination.
VAT inspectors can be probably be just as effective as border guards.

nomilk 15th Jun 2022 21:17


Originally Posted by occasional (Post 11246692)
If goods are crossing the border illegally there is no particular reason that this has to be picked up at the border. It could perfectly well be dealt with at the final destination.
VAT inspectors can be probably be just as effective as border guards.

The whole point is that goods might not go to the destination that was declared, eg they might get into the EU instead of NI. THAT is the problem. Since when have smugglers called the customs officer on delivery of their smuggled goods?

occasional 16th Jun 2022 08:20


Originally Posted by nomilk (Post 11246713)
The whole point is that goods might not go to the destination that was declared, eg they might get into the EU instead of NI. THAT is the problem. Since when have smugglers called the customs officer on delivery of their smuggled goods?

Surprising as it may seem, goods might not go to the destination that was declared despite the presence of border controls. As you say, nobody calls the customs office on delivery of their goods - whether smuggled or not.

nomilk 16th Jun 2022 08:26


Originally Posted by occasional (Post 11246912)
Surprising as it may seem, goods might not go to the destination that was declared despite the presence of border controls. As you say, nobody calls the customs office on delivery of their goods - whether smuggled or not.

The presence of border control means that they are safe to go to the EU OR to NI. That is the point of the NIP. That's why green or red channels don't mean anything at the border of the Irish sea.


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