Brexit must become an exit from British tax dumping
The European Parliament today adopted its position on an association agreement for future EU-UK relations. A future agreement with Britain
needs the approval of the European Parliament. With today’s broadly supported decision, the European Parliament strengthens the position of
EU chief negotiator Michel Barnier. Contrary to a previous European Parliament’s Brexit resolution, it now explicitly addresses the fuelling of global tax competition by the UK’s overseas territories.
MEP Sven Giegold, financial and economic policy spokesperson of the Greens/EFA group commented: “Brexit must become an exit from British tax dumping. Today the European Parliament has sent a clear message to the British Government. A future agreement between Britain and the EU must mean an end to tax havens in the UK’s overseas territories. A departure from British tax dumping should be a condition for the agreement. Only if Britain complies with EU tax standards it can retain access to the European Customs Union. With this position, the European Parliament is showing its teeth to the tax havens in the Channel Islands and the Caribbean. The European Parliament cannot accept tax dumping to continue when voting on a future agreement.”