The UK will become “like Morocco or Azerbaijan” if it crashes out of the EU, the bloc’s finance chief warned.

Gunther Oettinger also said a disorderly Brexit would force other EU states to pay billions more.

Brexiteers including Boris Johnson have argued that the UK should not pay its entire £39 billion divorce bill unless a trade deal is struck.

But the Government has insisted that it would be impossible for the country to walk away from its financial commitments.

It comes as campaigners warned that the self-employed currently struggling with their tax returns could be in for a VAT shock if MPs back Theresa May’s Brexit deal.

They claimed that under the deal Britain would lose its veto on VAT exemption thresholds meaning that small businesses could, during the transition period, be forced to charge VAT.

Read More

Latest UK politics news

Source: Read Full Article