Monday, 26 Oct 2020

EU panic: Brussels’ greatest fear could be utilised by UK after Brexit

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The Bruges Group director Robert Oulds insisted the UK had the capability to become an international success after fulfiling Brexit. During an interview with, Mr Oulds claimed after cutting ties with the EU, Britian would be free to implement its own tax strategies. He said the EU was against low corporation tax as this had the potential to undermine the economies of France and Germany.

However, if Britain was to utilise this opportunity, the UK could see a massive surge in international investment for companies who want a foothold in Europe, according to Mr Oulds.

He also noted this will frustrate the EU as this will make the UK a viable alternative to European member states. 

Mr Oulds said: “The European Union does not like that, they do not like low corporation tax and they don’t like tax competition.

“They believe it is harmful, what they mean by that is that it is undermining countries like Germany and France which have higher corporation tax.

“They don’t like other countries competing with them even if the country has decided itself.”

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Mr Oulds revealed how the UK can ensure it prospers once no longer shackled by the restraints of the European Union.

He said: “If Britain runs a good tax policy and takes advantage of the benefits that exist in the UK Britain will succeed.

“We will need to utilise the UK’s biggest asset which is the British people and the skills, energy, creativity and drive the people have.

“This is actually the best way of getting the economy moving when we fully come out of this coronavirus crisis.

“To reiterate it is to have a good tax rate, invest in infrastructures like technology and high-speed broadband.

“With the right tax regime, we can put the British people to work and Britain will be a great success.

Mr Oulds also highlighted an EU member state that is being put under pressure to not undermine Germany through tax.

He added: “Ireland has done very well as a result of running lower corporation tax and it has encouraged many businesses to focus on Ireland.

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“What that has meant is another reason why the Irish are very unhappy with the EU because Germany, in particular, wants Ireland to change its tax policy.

“Germany does not want Ireland to be running a competitive economy.

“Ireland, of course, has a much smaller population and less of an industrial base so they have to compete when it comes to taxation.

“That is one way they have managed to keep jobs within the Republic of Ireland.”

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