31 01 2017

Dijsselbloem Warns UK Against 'Going Rogue' On Tax

Eurogroup President Jeroen Dijsselbloem has warned the UK against attempting to establish itself as an "offshore tax haven" post-Brexit.

Speaking at The Future of Europe event on January 24, Dijsselbloem said that European people demand fair taxation, and that the way to achieve this is through far-reaching international cooperation.

However, in the light of the UK's decision to leave the EU, Dijsselbloem raised the question as to whether it "will go the Trump-way or continue to work closely with its European partners."

He noted that "we have heard threats of going rogue and creating an offshore tax haven, just off the coast of Europe."

According to Dijsselbloem, "That would be a huge mistake. And it would certainly stand in the way of a fair trade deal that would suit us both."

Prime Minister Theresa May last week said that the UK "would have the freedom to set the competitive tax rates and embrace the policies that would attract the world's best companies and biggest investors." She argued that, were the UK excluded from accessing the single market, which it intends to leave, her Government "would be free to change the basis of Britain's economic model."