RBS, Trump & Brexit


One piece of news which has been effectively buried with last weeks shock news that the next US President will be one with zero political experience is details of The Royal Bank of Scotland’s compensation package to “squeezed firms” https://www.bbc.co.uk/news/business-37903541.

It’s interesting that many commentators are making direct links to Brexit and Trump and the financial crisis of 2008.  Many voters still feel that the political establishment have not done enough to help them since the global financial crash. Hence protest votes turn into majority votes. Whether the world changes we will have to wait and see.

Back to RBS, a whistleblower made allegations that, in the aftermath of 2008, the bank deliberately forced viable businesses into administration so it could pick up assets at a knockdown price. The so called Project Dash for Cash gave staff higher bonuses based on fees collected for restructuring debt.

One can only imagine how these business owners feel now knowing that companies they built went bust might actually have been viable. No amount of compensation can reward them for the emotional damage of losing everything. It’s not hard to see why individuals vote against the establishment when the establishment failed to protect big business from exploiting them.

What does all this have to do with laser cutting? Not much at the moment I guess but as we celebrate our tenth year of trading I wonder how the world will have changes in 10 years time?

What will the UK look like outside of Europe? What will Trump’s legacy be to the world? What will GF Laser and the laser cutting industry look like? Certainly I think there will be many opportunities for manufacturing and I just wonder if this could be the start of a shift towards a more balanced economy in the UK where manufacturing becomes the powerhouse of the economy as it once was…..

Simon Tregillus | Director

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