The Chancellor of the Exchequer says that there will be no tax breaks after Brexit. After Brexit the UK will not try to undercut European economies with low tax rates and lax regulation as it may start a trade war. Many might see the chancellors announcement in a French newspaper to be conciliatory tones before fresh negotiations however it raises questions as to what the government will offer to incentivise companies to remain in the UK after it leaves the much larger market of the customs union. Labour leader, Jeremy Corbyn, said the move was "an extremely risky strategy" although Labours strategy on Brexit remains undefined.

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