Brexit Britain Banking Bonanza

EU banks flood in, IMF puts UK ahead of Eurozone

Osborne and Hammond remain silent, as their Remainer ‘fear forecasts’ turn to dust. Brexit Facts4EU.Org summarises two stunning economic reports issued yesterday.

In a spectacular double-whammy two reports were released which put paid to the last vestiges of pre- and post-Brexit Project Fear. London’s status as financial capital of Europe looks secure: Over 1,000 EU firms plan to open UK offices.

PLUS – IMF latest forecast shows UK growing faster than Eurozone and even Germany.

“We gravely misled the British Public” said former Chancellors Osborne and Hammond, in our dreams!

1. Over 1,000 EU Banks and financial services businesses plan to open UK offices. Following a freedom of Information request to the Financial Conduct Authority (FCA) by financial consultancy Bovill, it was revealed yesterday that some 1,400 EU-based firms have applied for permission to operate in the UK after Brexit, with over 1,000 of these planning to establish their first UK office.

Amongst the total of 1441 applications are those from 134 EU/EEA banks, which will either be setting up offices in London for the first time or boosting their current UK presence. Financial firms planning to move to the UK span all sectors in financial services. As well as EU banks, these include EU asset managers, insurers, exchanges and fintech firms.

2. IMF finally puts UK ahead of Eurozone and Germany, in latest economic forecasts. Yesterday the pro-EU International Monetary Fund (IMF) released the latest update to its economic forecasts for growth in the world’s economies. It did so just ahead of the start of the 4-day meeting of world leaders and financial corporations at Davos in Switzerland which starts today.

These figures clearly show that the IMF expects Brexit Britain to outperform the economies of the Eurozone and Germany, even during the undoubted turbulence following the UK’s final departure from the EU.

The first report uses data provided by the Financial Conduct Authority and the second is from the International Monetary Fund. Remainers were delighted to use information from such organisations when they promoted Project Fear. We are sure that these Remainers must now be delighted to have been proved so wrong by the subsequent and positive facts, figures, and events. Perhaps they might even apologise to the public… or perhaps not.

The IMF was one of those organisations which was happy to play its part in Project Fear prior to the EU Referendum in 2016, urged on by then Chancellor of the Exchequer George Osborne and the rest of the Cameron Government. This continued after the Referendum under the Theresa May Government and her new Chancellor Philip Hammond, as the Establishment attempted to overturn the largest democratic result in British history.

Until late last year the IMF was led by the arch-europhile Frenchwoman Christine Lagarde

In November Lagarde was appointed President of the European Central Bank. This is despite having been found guilty of negligence by a French court in a massive national financial scandal in 2016.

Yesterday the organisation she led for eight years, the IMF, was forced to revise its figures again, although of course it never expressed this as eating humble pie. Instead, we simply have their plain forecast figures which we are happy to bring you.

The IMF says that the UK will outperform the Eurozone for the three years from 2019. Who would have thunk it? Indeed!

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