Brexit: UK will not cut taxes, says Philip Hammond

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The UK inclination not cut tax and regulations after Brexit in a bid to undercut EU rivals, Philip Hammond has suggested.

The chancellor declared French newspaper Le Monde that tax raised as a percentage of the British saving “puts us right in the middle” of European countries.

“We don’t want that to hard cash, even after we’ve left the EU,” he added.

It has been viewed as a softer air from Mr Hammond, who in January said the UK would do “whatever we have to do” post-Brexit to stay competitive.

But Grind said Mr Hammond was “in open dispute” with himself.

BBC political newsman Chris Mason says that having lost their lions share at this year’s general election, the Conservatives would struggle to prevail upon the Commons to support slashing taxes and regulation.

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In his latest vet, Mr Hammond told Le Monde: “I often hear it said that the UK is account participating in unfair competition in regulation and tax.

“That is neither our plan nor our apparition for the future.

“I would expect us to remain a country with a social, remunerative and cultural model that is recognisably European.”

Our correspondent said those solemn word of honours “appeared to be at odds with some of his own comments earlier this year”.

During an check out in January, Mr Hammond was asked by Welt am Sonntag whether the UK could fit a tax haven after leaving the EU.

He said he was “optimistic” about securing a adroit trade deal with the EU but if this did not happen “you can be sure we will do whatever we beget to do”.

“If we have no access to the European market, if we are closed off, if Britain were to become the European Union without an agreement on market access, then we could suffer from financial damage at least in the short-term,” he said at the time.

“In this case, we could be calculated to change our economic model and we will have to change our model to regain competitiveness.”

‘Pretender U-turn’

Labour said Mr Hammond was now contradicting what he had said at the start of the year.

“The genuineness is that the British people will not believe the fake U-turn of a Tory chancellor in a French newspaper, while he is allay going ahead with billions of pounds in corporation tax giveaways in this parliament, and turn downs to rule out further cuts,” said shadow minister Peter Dowd.

In his latest question period, Mr Hammond also said the UK wanted EU workers be part of the British conciseness and carry on with their family life in the country, and the same for British expats fit in in Europe.

He said the bill for Brexit was not a question about money, but how the UK devises the EU without causing problems for businesses and people.

Breaking up the City of London wish benefit New York not Frankfurt or Paris, he added.

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