How the UK's Brexit vote could impact Canada
Impact on Canada
For Canada specifically, the real implications of the aptly named ‘Brexit’ are not so much the impact on trade, but rather foreign direct investment (FDI). Many Canadian businesses and corporations have a strong presence in London, given that the UK serves as Canada’s economic gateway into the world’s largest singularity.
In 2015, approximately $93 billion of Britain’s FDI came from Canada, representing nearly half of the $191.5 billion in FDI that goes from Canada to Europe annually. Europe is the second most popular destination for Canadian investors.
“If this were to be cut off, if Britain were to leave, these investments would no longer make sense,” said Hübner. “There would be geographical and economic reconsiderations through relocating those kinds of things.”
EU referendum: Bombardier tells workers it would be better off if 'UK remains in EU'
By Julian O'Neill BBC News NI Business Correspondent
14 April 2016
From the section Northern Ireland
The boss of Bombardier in Belfast has told its staff that "it is better for our company that the UK remains within the EU".
The Canadian-owned firm is Northern Ireland's biggest manufacturing employer
It employs around 5,000 people in its aerospace business.
The firm's Belfast vice-president Michael Ryan wrote in a letter to staff that the "European debate is very emotional".
The referendum will take place across the UK on Thursday, 23 June.
But, he said that Europe has been good to the company in terms of investment, air travel and giving free movement of goods.
The aerospace firm's Northern Ireland operation exports 95% of its products - 33% of them directly into Europe.
jollyjacktar said:I'd be voting to leave if I was a resident.
As close as it was (51.9 go, 48.1 stay), I'm still kinda surprised to see how it tipped.tomahawk6 said:BREAKING..... David Cameron to resign as PM.I find this development a bit surprising.
Bloomberg experts predict a $500b loss in the markets following the vote.
daftandbarmy said:This will be interesting to watch, especially if the Russians take it as an opportunity to apply pressure...