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Uk Exports Hampered By 'piracy' Of Finance Costs, Says Engineering Company

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http://www.telegraph.co.uk/finance/yourbusiness/8587814/UK-exports-hampered-by-piracy-of-finance-costs-says-engineering-company.html

Britain's exporters are being handicapped by excessive bank charges that one leading engineering firm has likened to “piracy”.

Jim McColl, executive chairman of Glasgow-based ClydeUnion said banks had doubled the cost of vital trade finance that meant the international pumps business faced having to turn away lucrative overseas orders.

They used to charge 0.3pc to write a bank guarantee. After the banking crisis they pushed it up to 4pc. In my view that was just piracy. It’s another way of sucking money out of companies,” he said.

The bankers are trying to recover there losses by passing on the costs to their customers. They've got to keep the bonus pool up somehow.

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What is interesting is that Cameron listened and immediately got the Govt to undercut the bankers and offer decent terms. Fair play to him.

Brown or Blair would have launched a multi year consultation which would have concluded nothing but let bankers make loads of money.

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What is interesting is that Cameron listened and immediately got the Govt to undercut the bankers and offer decent terms. Fair play to him.

Brown or Blair would have launched a multi year consultation which would have concluded nothing but let bankers make loads of money.

Even better if as well as undercutting, he'd decapitated them as well.

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Even better if as well as undercutting, he'd decapitated them as well.

...these banks are dead horses ...they should not exist...they need culling...while ECGD from years ago should be expanded and routed through real Banks.... :rolleyes:

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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