31 Jul '17, 10am

Philip Hammond: UK won't be 'Singapore style' tax haven after Brexit

Philip Hammond: UK won't be 'Singapore style' tax haven after Brexit

Britain will not become a Singapore-style tax haven once it leaves the European Union, according to Philip Hammond. The Chancellor said the UK would not resort to slashing corporation tax and cutting business regulations if it was not able to negotiate the desired Brexit deal. Mr Hammond maintained that even following Brexit Britain's rates of tax would continue to leave it "right in the middle of the pack". His comments come as senior Conservatives were forced to deny rumours of a Cabinet split over Brexit. Health Secretary Jeremy Hunt insisted the Tories were united on delivering a global Britain despite Mr Hammond, Home Secretary Amber Rudd and International Trade Secretary Liam Fox appearing to be at junctures over the prospect of transitional arrangements once the UK leaves the bloc.

Full article: http://www.itv.com/news/2017-07-31/philip-hammond-uk-wont...

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