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Gm77 last won the day on August 15 2016

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About Gm77

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  • Birthday 12/09/1977

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  • Name
    Greg Martin
  • Car
    Evora 400, TVR T350C, Midtec Spyder (don't judge!)
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  1. I’m the last to defend the EU but much of the above isn’t really the EU’s fault and would be tricky for them to address in isolation. We have an international (read global) tax system that largely allocates rights for countries to tax global profits based on having employees on the ground in that country, and what they actually do. Its a principle that goes back to a time well before the internet was even thought of that basically meant if you want to sell something in a country you’d likely need people in that country doing the selling, and elements of a supply chain supporting that sale, also in country. This local substance would give that country a right to tax. With the internet, and improvements in logistics and global trade, there are strong arguments to say that the old system doesn’t work effectively anymore. However, any new system has to be agreed globally, otherwise you end up with governments seeking to tax the same profits which isn’t great for a whole host of reasons. Reaching agreement on such a complicated change is not easy as there will be winners and losers. There is working ongoing on this though (at international not EU level) so watch this space. And just on UK Corporate Tax, I met with a representative of the Treasury years ago who said they would rather abolish it and recover the lost tax from a small increase in the VAT rate - the tax take on CT isn’t worth the cost in administering it.
  2. Phil, if you’re that close you’ll have to join us next time round! If you fancy it drop me a PM with your mobile number and I’ll add you to the WhatsApp group for the next get together. Greg
  3. Gm77

    TLF GT430 Club

    Thanks Trevor - great to hear such positive feedback and fingers crossed... Greg
  4. Gm77

    TLF GT430 Club

    You’re not wrong! I have to make do with the 10 year old Subaru diesel estate! Life is tough...
  5. Gm77

    TLF GT430 Club

    If Jamie can work his magic with the numbers, this may be sat on my drive this Summer...
  6. It was a celebration of the highest density of privately owned Evora in the world! All within 2 miles, and we were missing one...
  7. A public car park today - more common than Fiestas...!
  8. You learn something new everyday! I did think that was a chat up line to be used in Amsterdam. But then, I am from Essex...
  9. My only question is why cant you ever take a photo that’s straight?
  10. In reality nobody knows what will happen once the UK leaves the EU. A couple of observations. The big unknown is what will happen to our exchange rate, assuming we leave. I have now seen two reports out of Germany (neither from Brexit supporting organisations I would add) that suggest that one of the biggest concerns of their industry is that the tariffs that will apply under WTO terms, plus a devaluation of the pound, will mean that German manufactured product will be prohibitively expensive in the UK, one of their largest markets. The same survey suggested that the impact of tariffs would be nullified for UK manufactured product through a devaluation, even accounting for the back and forth required under complicated supply chains. Clearly if the currency doesn’t devalue, this won’t be the case and the UK will likely suffer. Interestingly though, the survey then stated that the majority of German business would be prepared to see a restriction to the four fundamental freedoms of the EU, if that meant closer relations with the UK. The stated view of EU politicians is obviously different. On the UK, it’s biggest issue for years has been poor productivity. One reason this may be the case is a lack of investment in processes and technology. There are many views on how this can be dealt with and nobody has the full solution. One point that is difficult to challenge though is that if business can import cheap labour, and that same business has a short term view of planning, investment will always be limited. If you take agriculture as an example, if you can import cheap labour as many do to pick fruit, you don’t need to invest and seek ways of making processes more efficient through innovation; a double edged sword then. Now, if we remove access to cheap labour business will either be forced to invest, or will fundamentally fail. Again, nobody knows what will happen. One way that the UK missed a trick (applying hindsight) was the decision not to join the Euro. The value for the Euro is realised based on the purchasing power of all EU nationals - an average if you like. The strongest economies who, on a stand-alone basis, would drive their currency higher, benefit through an effective devaluation through the single currency. It’s a main reason why Germany has the second largest trade surplus in the world. If the UK had joined the EU, it would likely have benefitted in a similar way. Retaining the pound on reflection was not a good decision. I could carry on with various points but I go back to my initial observation, nobody really knows what will happen. Basic economic theory however will tell you that even if we leave the EU without a deal, whilst there will undoubtedly be some rebalancing, the UK is one of the wealthiest countries in the world, has a highly skilled workforce, and has significant purchasing power, so it will adapt with only short to medium term pain at worst. The question for me then is whether we are prepared to risk the cost of that short to medium term pain to achieve the political and societal change that some desire. Either way though, I’n pretty confident that we will be fine.
  11. Ha ha! Funny as. Two hours earlier I drove down the same road and passed Will’s 400 parked up! More common than Fiestas. Lets campaign to have the village renamed - Evora-ville. Or, get the village twinned with Hethel! Greg
  12. You almost had the sound of a 400 in that video Andy! I drove past your house today and your pride and joy was sat outside. So close... Greg
  13. I recently suffered a burst appendix. On coming out of hospital, the only car I was comfortable in was my 400. The family estate, and the family hatchback couldn’t compete. As someone has said before, it’s total witchcraft...! Greg
  14. Getting excited now as I’ve bought a 1.6 EcoBoost engine for the kit car! Now I’m dreaming of anywhere between 250bhp and 350bhp in something that weighs around 550kg. Good job my life insurance is up to date...
  15. I just watched that. Amazing episode; best yet. New found respect for JC. Greatest racer ever.
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