Oh, wouldn’t that be smart? Britain as tax haven is a brilliant idea. Right off the coast of heavily taxed and bureaucratic “Europe.” Just smart.
The problem is Britain has too many full on Marxists in its bowels. The statists might be dark pink here in the US. In the UK they are straight up red as a rose. And even (and perhaps especially) those in dark blue and pin stripes have a profound affinity for the state. Britain still has a lodged aristocracy it should be remembered. (Even if it has been diminished.)
The statists of all kinds in the UK would much rather have Britain poorer but with power firmly in the hands of government. (At least the part of Britain outside of The Square Mile.) It’s a fearful mentality, just like on this side of the Atlantic.
Too bad we don’t have Margaret Thatcher to slap these guys around.
(From The Evening Standard)
Philip Hammond has said the UK will not become a tax haven in a bid to compete with European rivals after Brexit.
The Chancellor made the comments in an interview with Frenchnewspaper Le Monde, revealing the UK will not reduce taxes or regulations after leaving the bloc.
“I would expect us to remain a country with a social, economic and cultural model that is recognisably European,” he told the newspaper.
He said the percentage of the British economy raised by tax “puts us right in the middle” of EU countries, adding “we don’t want that to change, even after we’ve left the EU”.
Yes, yes, we wish not to upset our banking friends in Germany and Belgium. (There is still a country called “Belgium” right?) Low taxes, freedom, free enterprise, you know the lot, is all so gauche. So American. No, no, steady as she goes…We will still do whatever Frau Merkel wants.