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My understanding was the goal behind Brexit - once you stripped away all the political marketing - was to create a tax and regulatory haven inside of Europe, as
by spamizbad 4y ago
My understanding was the goal behind Brexit - once you stripped away all the political marketing - was to create a tax and regulatory haven inside of Europe, as a means of competing with places like Dubai. It was never about providing any material benefit to the average Briton.
I suppose it's not the dumbest idea. But the conservative party indulged too many eurosceptic cranks, turning it into an "us vs them" sort of deal, alienating would-be European partners who would become clients of such a tax/regulatory haven. Such clients either stick with the EU as a show of solidarity or just park their holdings outside of Europe as to not "take sides" in the messy Brexit ordeal.
To make matters worse, the conservative party ultimately lacked the fiscal discipline necessary to make the necessary tax cuts without ballooning debt. They needed the political will to make deep, painful cuts to government services, but instead chose to run against austerity. You can't have it both ways!
IMO they should abandon this boondoggle of a political project, rejoin the EU, and give up their extreme tax and regularity plans and go back to providing good public services to citizens.
- tuatoru 4y ago> to create a tax and regulatory haven inside of Europe I think you mean "to preserve". In the wake of the GFC the EU adopted much stricter financial transparency laws.