31 Jul '17, 6am

Phew. We're not going to become Singapore after all. But what then's the point in quitting the EU?

Phew. We're not going to become Singapore after all. But what then's the point in quitting the EU?

The UK will not cut tax and regulations after Brexit in a bid to undercut EU rivals, Philip Hammond has suggested. The chancellor told French newspaper Le Monde that tax raised as a percentage of the British economy "puts us right in the middle" of European countries. "We don't want that to change, even after we've left the EU," he added. It has been viewed as a softer tone from Mr Hammond, who in January said the UK would do "whatever we have to do" post-Brexit to stay competitive. BBC political correspondent Chris Mason says that having lost their majority at this year's general election, the Conservatives would struggle to persuade the Commons to support slashing taxes and regulation. Fox holds firm on opposing free movement Mapped: The three Brexiteers' trips In his latest interview, Mr Hammond told Le Monde: "I often hear it said that the UK is considering participati...

Full article: http://www.bbc.com/news/uk-politics-40771900

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