Friday, September 02, 2016

Theresa May will lead us into a bleak future

Martin Kettle has an insightful comment on current division within Tory government's approach to Brexit. Not for or against, but which gets priority, controlling immigration (No 10) or free market (treasury).

Since No 10 will ultimately win that battle, the question is how the Treasury will react. In its determination to maintain the City of London’s global position outside the single market, the Treasury will find itself inexorably drawn down the road towards remaking the UK as an offshore, low-tax financial haven. Just at the very moment when the EU locks horns with Apple over sweetheart tax deals, so Britain may roll out the welcome mat to international corporations such as Apple, offering Britain as the new Ireland, or as a European Singapore.