Britain’s economic model will stay 'recognisable European' after it leaves the bloc, says Chancellor.
The UK will not cut taxes and regulations to make the UK into a tax haven after Brexit, the Chancellor has indicated.
Marking a signicant change in tone, Philip Hammond told French newspaper Le Monde Britain’s economic model would stay “recognisably European” after it left the bloc,
The Chancellor had previously suggested the UK would undercut European member states to attract big businesses after it left the bloc, telling German newspaper Welt am Sonntag in January the UK was willing to do “whatever we have to” to build the economy after Brexit.
"I often hear it said that the UK is considering participating in unfair competition in regulation and tax," Mr Hammond said.
"That is neither our plan nor our vision for the future.
"I would expect us to remain a country with a social, economic and cultural model that is recognisably European." [...]
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