Carney rules out low-tax future for UK
Mark Carney has dismissed suggestions that London could become a low-tax financial centre to attract business after the UK leaves the EU. The Bank of England governor said central banks and financial regulators had to keep up their guard because the passing of time meant people started to forget why rules had been put in place to begin with. He also said the UK’s financial sector could double in size but still requires tough regulation. He told the Guardian that the financial sector could be worth 20 times the UK’s economic output in 25 years.
Source: BBC News (04/08/2017)