Monday, 31 July 2017

UK will not cut taxes and regulations after Brexit, says Philip Hammond

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.

But Labour said Mr Hammond was "in open dispute" with himself.

BBC    News.

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