No deal could mean tax cuts

Posted on 27 Oct 2021
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No-deal plan could see taxes cut to kick-start the economy Taxes and tariffs could be cut in the event of a no-deal Brexit, with ministers said to be considering options that would boost the economy. Sir Mark Sedwill, the Cabinet Secretary, has led a cross-departmental team of senior figures from the Cabinet Office, the Treasury, the business department and the international trade department to examine ways that Britain could "steal a march" on the EU. The plans, codenamed "Project After", include cuts to corporation tax and VAT, as well tax relief designed to encourage business investment. A Whitehall source told the FT: “It’s basically a Doomsday list of economic levers we could pull if the economy is about to tank.”

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