The UK will become a tax haven
That was the threat that May gave yesterday in her speech if the UK was forced to walk away from the negotiating table at the Brexit negotiations. Previously I postulated that UK citizens living abroad and EU citizens living in the UK would be used as May's key bargaining chip and, although that may yet come to pass, it seems she has decided that the EU will be more likely to react to a tax haven being set up on the edge of Europe. However, while the right-wing press might be applauding this manoeuvre, it is an empty threat. Why? Because it's going to happen anyway. In fact it's already happening. How many headlines have their been about the sweetheart tax deals and big multinationals not paying their fair share? The legality of it is neither here nor there for the UK government - as long as the super rich remain happy (because they fund the political parties.) Le Monde once described The City of London as Europe's biggest money laundering operation. Outside of the EU's banking regulation The [...]