31 Jul '17, 6am

Singapore model is now impossible because of Parliamentary arithmetic - my analysis

Singapore model is now impossible because of Parliamentary arithmetic - my analysis

Philip Hammond appears to be consigning the threat of turning Britain into a European version of Singapore to the dustbin. Where six months ago the chancellor was emphasising that Britain could change its economic model in the event of a bad Brexit deal, now this is “neither our plan nor our vision for the future”. In an interview with Le Monde he even appeared nonplussed when asked whether Britain could go in for “fiscal dumping”, the pejorative term for such behaviour. This is odd since he had voiced such an idea in the German press in January. No doubt some Brexit supporters will cry betrayal and suggest that the chancellor is giving up a valuable card in the Brexit negotiations.

Full article: https://www.thetimes.co.uk/article/6cf4acec-7565-11e7-b3b...

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