Brexit and Tax

The anti-democratic campaign against Brexit contunues with more spin on the tax position. With every other country in the world having free access to the EU’s single market, ie able to sell things to the EU, the latest project fear #2 is that the UK will supposedly have to pay extra to do the same. This is just as false as project fear the first time around.

The reality is the UK has decided by the biggest vote in its history to leave the EU club and all that goes with it. That includes their single market, which is just the EU’s own internal rules for trade and movement within the bloc. Once the UK is independent of the EU the two sides can choose to trade either by adding customs tariffs against each or use free trade.

Given the antagonistic, anti-British, attitude of most EU institutions and some member states the EU’s first choice will be to try to punish a free UK. But the under-threat EU has far more to lose by a trade war. Also, like most dictatorships, the EU is best dealt with firmly but fairly. Handled deftly and with confidence the EU bloc can likely be helpled to eventuallu see sense and accept free trade.

Eamon McNicholas
Tax Barrister, Accountant

About Eamon McNicholas

Tax Barrister, Accountant
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