Comment - Brexit plan B: make the UK a tax haven free of refugees

25 October 2016 by Carlos Martin Tornero

I’ve just received a press release that says corporation tax cut provides ‘food for thought’ during post-Brexit future negotiations.

The press release is sent by a PR firm and carries comment by a so-called award-winning City solicitor who says:

“With one of the lowest corporation tax rates in the EU, a further reduction in corporation tax rates may provide the proverbial ‘hook’ for existing businesses to retain their operations in the UK.”

The City solicitor continues:

“Arguably, an attractive rate of corporate tax provides the necessary reassurance to businesses that the UK remains a desirable location, whilst also demonstrating it still has the ability to reel in the biggest global businesses.”

“It may provide businesses that were previously looking to relocate post-Brexit with some food for thought as to whether or not they will formally proceed with leaving their UK-based operations. However, corporation tax will undoubtedly be one of many other important considerations (for example, the free movement of workers).”

The press release is sent to further comment on the back of a The Sunday Times article entitled Threat of UK tax cut staves off hostile EU, which I could interpret as to pour some more gas on the Brexit bonfire.

It is great timing because it reached me at the same time as someone was sharing on social media an old article, from April this year, when UK MPs voted against letting in 3,000 unaccompanied Syrian child refugees.

You can read their names, perhaps a sort of a hall of shame, here: How MPs voted on whether to accept 3,000 unaccompanied Syrian child refugees who travelled to Europe.

So there you go that’s the moral compass of our time: refugees go home; big business you are welcome. And, of course, if those businesses are ambitious enough and want to reduce even more those tax rates, they will always have an army of tax avoidance enablers at their service.

Definitely, heavy food for thought to digest, I might even throw up.