Plans are being drawn up to maximise the potential benefits of a Brexit on WTO terms, with the path forward being dubbed ‘Project After’.
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A cross-department team led by the Cabinet Secretary, Sir Mark Sedwill, are looking at ways the government could help deliver prosperity if the UK leaves the European Union without a deal. The government would have the ability to act fully independent of Brussels, hence why it is such an attractive option for an increasing number of people.
Moves would include cutting corporation tax and VAT, as well as slashing tariffs.
The International Trade Secretary, Liam Fox, told The Telegraph: “Our economic fundamentals are very strong, just look at the figures.
“Our exports are at an all-time high. We have recently overtaken Germany as the biggest exporter to Hong Kong. This is an economy that is in robust health.”
The pro-EU Financial Times, who originally uncovered the plan, quote the Institute for Government’s Joe Owen as saying: “The fact that Project After now sits with Sedwill means it must be a priority for the Prime Minister.”
Meanwhile FT’s Chief Political Correspondent, Jim Pickard, described the move as “a secret group at the heart of Whitehall drawing up plans to kick-start the economy after No Deal Brexit, through options that range from cutting taxes and boosting investment to slashing tariffs”.
And Conservative MP Nadine Dorries reacted by describing it as: “The sunny upland.”
Good to see a plan in place for a No Deal Brexit. The government must be ready to implement it on 29th March.