Page 2 | Why do rich people want no deal/ to leave the EU

(70 Posts)
Jimjamjooney Fri 09-Aug-19 17:35:44

I'm not looking to start an argument. I didn't vote in the referendum as I was unsure of which option was for the best and struggle to get my head around everything tbh.

I am aware of the stereotypical reasons some people voted leave (immigration etc.) but I also know lots of well off people who want to leave/ remainers that have changed their minds.

Why do some wealthier people actively want Brexit?

OP’s posts: |
Tengel Sat 10-Aug-19 01:58:50

Brexit has already happened for many people running large businesses.

No deal plans and contingencies we're ready in March and they've prepared for new ways of working since 2016.

This is why they are relaxed. Many know it won't affect them or be negative at all.

The City, Banks, large industrial companies, investors and others are all ready,

The problem lies with the politicians whose delay and chaotic management of the process has sapped confidence, the problem is not brexit itself.

Jimjamjooney Sat 10-Aug-19 09:27:05

Sashkin thank you for a definitive list. I can understand buying up cheap assets. It's scary thinking about worker protections being removed, especially with Bojo as PM. That elderly patient will be in for a surprise I think!

MeganBacon thank you for your patience. It's reminds me a little of when remainers get frustrated at leavers not necessarily being able to come up with future positives but stating what they think is wrong with the EU.

OP’s posts: |
Jimjamjooney Sat 10-Aug-19 09:30:19

Tengel I never considered this view point but it makes absolute sense, it's almost reassuring in a way. Unlike our politicians. It's childish in a way, but I do wish someone would come into power who actually seems to care about what happens to the people of this country and who we can put our faith in.

OP’s posts: |
kjhkj Sat 10-Aug-19 09:48:24

I would probably be considered "rich" by many and certainly we have a high income (two six figure incomes) and a good standard of living. Most of our friends are in a similar position and are well educated, read about current affairs and economic issues and have thought it through. The vast majority do not want brexit. Those who did vote to leave (2 that I know of) work in the NHS and admit now they were short sighted. They are also in the fortunate "jobs for life" category, being hospital consultants/surgeons. I also know two older retired people who voted to leave. Both are labour voters, one a labour party member. They both voted to leave because "it was good before" hmm idiots

But the reality is that those with higher incomes can cope with food, energy and transportation costs doubling. Its annoying but they are not as likely to be in the position where they can't afford to buy the food that is available. I think that leads to a degree of complacency. I have stockpiled food since I think there will be shortages and I don't want the hassle and worry but I have friends (again NHS consultants with guaranteed jobs) who just laugh and say if they had to pay four times as much for food for a few months it wouldn't be the end of the world for them.

The super rich you are referring to such as the Jacob Rees Moggs of the world want to swoop in and buy property and other assets and want the power that comes from selling the masses a bunch of lies.

Linseedlill Sat 10-Aug-19 09:56:12

Because like Dyson said, outside of the "constraints" of EU employee legislation, employers can enjoy a "more flexible employment market" which basically means workers will have fewer rights, which in turn means more profits for the managers and owners and banks.

And because the rich are comfortable enough to withstand the disruption! Most investment banks have moved to new premises in other countries (some within the EU) and in the short term, a crisis of this sort will be of benefit to some, ie there will be a flurry of trades by fund managers hoping to benefit from the volatility of the interest rates, foreign exchange markets and credit spreads, especially if we crash out with no deal.

I think the problem is very much Brexit itself. Parliament has no mandate for a no deal. For the ordinary man and woman on the street, the ramifications of leaving the EU will not suddenly end on 31st October, that is the start date for a decade of disruption.

berlinbabylon Mon 12-Aug-19 13:38:49

Having a bonfire of workers' rights was a big reason I think. If they don't have to pay their workers a living wage, and can hire and fire at will, it makes them more profitable.

Although to be fair I think Amazon said it thought the UK should remain, and they are not exactly known for either paying tax or protecting workers' rights. So it doesn't always follow.

Mistigri Mon 12-Aug-19 14:42:02

The City, Banks, large industrial companies, investors and others are all ready,

I work in planning for a large industrial company and tbh I see no clear evidence of readiness.

My experience is that Brexit planners in industry often aren't people with particular expertise, they are just regular managers seconded to a committee with limited clout. So Brexit preparations are mainly dependent upon people at board level being sufficiently switched on to drive big decisions, I suspect they probably are pretty clued up in some sectors (pharma, big car companies); much less so in others.

BogglesGoggles Mon 12-Aug-19 14:46:57

EU stifles economic growth/generally quite illiberal and wealthy people like the freedom that comes with wealth and want more of it.

Mistigri Mon 12-Aug-19 14:52:21

The EU enables ordinary people to move for work or retirement.

The rich do not need the EU to enjoy freedom of movement.

frozendaisy Mon 12-Aug-19 15:54:55

Some very rich trade against currencies - not sure how but would like to find out as it can make a fair bit of easy money if you do it right

AquaPris Mon 12-Aug-19 16:04:45

They don't - rich men are lying and saying they want no deal to manipulate the working class leavers into voting them into power. Boris for example was always pro EU until it appeared the only way he'd claw his way into power was by fronting Leave.

Why would any rich people want to limit their business options, raise tax on their imports or possibly lose rights on their properties in other EU countries?

Helmetbymidnight Mon 12-Aug-19 18:37:48

the 'comfortably off' property owning over 60s, who constitute masses of leave voters think they can take the economic hit. the ones i know say things like how great it will be to have seasonal veg again/people are too fat etc etc.

the super-rich - like jrm, boris, farage, banks etc etc will do/already are doing well out of brexit- tax avoidance, money overseas, disaster capitalism, fewer worker protections, fewer environmental protections = win, win, win.

jasjas1973 Mon 12-Aug-19 19:50:10

Why would any rich people want to limit their business options, raise tax on their imports or possibly lose rights on their properties in other EU countries?

For the super rich, as opposed to 'boomers, will make so much more money out of dollar investment earnings, that it will off-set any extra spending in Europe.
Should things go really bad here, they can buy EU residency (or anywhere else for that matter) such as the Golden Visa Scheme in Portugal.

BubblesBuddy Mon 12-Aug-19 23:32:45

I’m over 60 and DH and i were always Remain and still are. We are comfortably off with several homes and property plus other investments but: we do realise what a no deal and Brexit could mean to others. Our holiday exchange rate is now awful, but it won’t stop us doing anything. We are still able to help our DDs out financially and I don’t think our world will grind to a halt. I think others less fortunate really will notice price rises. The £/$ exchange rate will make petrol more expensive soon. We import more than we export.

I’m not so mean, stupid and callous as to just think about us. So many will be worse off and I think staying in could have been a platform for change. The rhetoric has overtaken common sense and the nation has been bullied by populist politicians for whom no consequence of Brexit will matter one jot. They are immune. They only care about blaming the EU. After Brexit, everyone needs to blame them!

Oranginna Mon 12-Aug-19 23:51:36

The well off educated leavers I know want Brexit because they fear "ever closer union" in an EU where they believe the executive are unelected and unaccountable and therefore potentially dangerous. They think the EU leadership makes poor decisions and the whole project will go pear shaped. So they want the UK to be independent before that happens. They want the best for their country, just like remainers do. They just see things differently.

Linseedlill Tue 13-Aug-19 01:34:37

Unelected and unaccountable and therefore potentially dangerous like Dominic Cummings you mean?

MrsTerryPratchett Tue 13-Aug-19 02:12:07

Unelected and unaccountable and therefore potentially dangerous like Dominic Cummings you mean?

And the Head of State. And all those people in the House of Lords. You can add 'unrepresentative' to the list for them.

Helmetbymidnight Tue 13-Aug-19 06:29:34

Unelected and unaccountable and therefore potentially dangerous like Dominic Cummings you mean?

and boris perhaps? the weird thing is they dont have a word to say about that...

and the fact that wto rules will mean less control or 'sovreignty' as i think they mean.

or that subsequent trade deals will all require a level of compromise or 'giving up of independence' too.

bubbles, totally appreciate not all boomers voted leave, absolutely, but the stats say they were the largest group.

Oranginna Tue 13-Aug-19 06:54:29

Unelected and unaccountable and therefore potentially dangerous like Dominic Cummings you mean? and boris perhaps? the weird thing is they dont have a word to say about that...

Because they understand how Boris was elected ... by the Tory party members. And they know that Boris will have to face a general election soon. If people don't like what he is doing, he will be voted out and Cummings will go with him.

In contrast, they don't know how Ursula von der Leyen was elected or how she can be voted out. They don't understand the system. They don't understand how Greece was allowed to join the Euro and then be bankrupted or why Dieselgate was covered up for so long or why Angela Merkel's decision to open all borders was imposed on unwilling countries. They don't trust the EU to make good decisions for the UK because they don't believe the leadership is accountable to us and they don't know how they can vote them out.

Helmetbymidnight Tue 13-Aug-19 07:07:02

maybe they should study it a bit more then?

its weird that they should think a no deal brexit is going to lead to greater accountability or sovreignty, isnt it? it means a massive loss of control, masses of compromises and a huge loss of status. our trade deals will be made from the basis of desparation and will be much poorer/give up control for it - its bizarre that doesnt concern them at all, isnt it?

Helmetbymidnight Tue 13-Aug-19 07:09:58

its extraordinary logic when you think about it- i dont like this system so im going to clamour for a system much worse and with much less control, which will bleed my country dry and threaten gfa etc- but hey. at least its not the EU.

berlinbabylon Tue 13-Aug-19 08:18:00

people are too fat etc etc

well they're right, but Brexit is a bit extreme a measure for dealing with that. Investing in cycling and public transport, disincentivise car use, and stopping sales promotions on junk food might help more.

it means a massive loss of control

Yes, EU laws that we influence are terrible, WTO rules that we largely don't, are great.

People are very strange.

ChardonnaysPrettySister Tue 13-Aug-19 08:21:01

Avoiding the EU's crackdown on tax avoidance? Just a thought. Is there a Venn diagram of people mentioned in the Panama Papers and prominent wealthy leavers?

Lots of wealthy people have relocated to Portugal, which is part of the EU, so can’t be that.

Mistigri Tue 13-Aug-19 08:31:18

The error being made is thinking that all rich people have the same motives and interests.

Age, financial interests, business interests and ideological leaning also matter.

jasjas1973 Tue 13-Aug-19 08:49:22


If they are well off and well educated, how on earth don't they understand how the EU commission president is elected? its not rocket science! or believe the rubbish that the EU was responsible for car emissions scandal.

Sounds like they are rich but dim.

Dieselgate was covered up by the car companies themselves, not the EU, rules set in Brussels were supposed to be enforced by national bodies, who colluded with the manufactures/governments... it was the EU that has changed the rules so this shouldn't happen again....but even then, the member states have managed to water down some of the EP proposals sad

Yet another reason why the wealthy don't want the EU, they often shine a light on poor practice, the most recent, tax evasion.

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