Brexit: UK will not cut taxes, says Philip Hammond

Coins and Philip HammondImage copyright

The UK will not cut taxes and regulations after Brexit to try to undercut European rivals, Chancellor Philip Hammond has suggested.

He told French journal Le Monde that the taxation lifted as a commission of the British economy “puts us right in the middle” of the European pack.

“We don’t wish that to change, even after we’ve left the EU,” he said.

This is at contingency with what Mr Hammond pronounced in an talk with German journal Welt am Sonntag in January.

Mr Hammond told Le Monde: “I mostly hear it pronounced that the UK is deliberation participating in astray foe in law and tax.

“That is conjunction the devise nor the prophesy for the future.

“I would design us to sojourn a country with a social, mercantile and informative indication that is recognisably European.”

Mr Hammond was asked progressing this year by Welt am Sonntag either the UK could turn a taxation haven.

He pronounced he was “optimistic” about securing a good trade understanding with the EU but if this did not occur “you can be certain we will do whatever we have to do”.

“If we have no entrance to the European market, if we are sealed off, if Britain were to leave the European Union but an agreement on marketplace access, then we could humour from mercantile repairs at slightest in the short-term,” he pronounced at the time.

“In this case, we could be forced to change the mercantile indication and we will have to change the indication to recover competitiveness.”

Not a doubt of money

BBC domestic match Chris Mason says that having lost their infancy at the election, the Conservatives would onslaught to convince the Commons to support slicing taxes and regulation.

In the French interview, Mr Hammond pronounced the UK wanted EU workers be partial of the British economy and lift on with their family life in the country, and the same for British expats operative in Europe.

He pronounced the check for Brexit was not a doubt about money, but how the UK leaves the EU but causing problems for businesses and people.

Breaking up the City of London would advantage New York not Frankfurt or Paris, he added.

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Posted by on Jul 31 2017. Filed under Politics. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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