UK transport minister Chris Grayling speaking on BBC tv earlier today 23 Oct
- Britain will have tariff-free trade with the EU after it leaves the bloc as it is in both sides' interests to do so
Asked whether the EU's free trade deal issues with Canada was a worry for Britain, Grayling, a leading Brexiteer said Britain's relationship with the EU was different as it was the bloc's most important export market.
"Nobody in continental Europe benefits from a reduction in the ability to trade with the United Kingdom,
"I have always been convinced we will have tariff-free trade, we will have sensible trading arrangements, because it is in both our interests that that should happen."
Yesterday I posted on the EU-Canada trade deal problems here
Elsewhere the Sunday Times reports comments today from an unnamed source that Britain could slash corporation tax to 10% from 20% if the EU refuses to agree a post-Brexit free trade deal or blocks UK-based financial services firms from accessing its market.
The newspaper says the idea had been put forward by PM Theresa May's advisers amid growing fears other EU member states will take a hard line in Brexit negotiations.The proposal would be used to try and persuade the EU to grant "passporting" rights for financial services firms to continue operating across the EU, the newspaper said.
Said the source:
"People say we have not got any cards but we have some quite good cards we can play if they start getting difficult with us. If they're saying no passporting and high trade tariffs we can cut corporation tax to 10%."
The hearsay and second-guessing will continue for a long time yet, along with a bucket-load of political positioning.
