{"id":11154,"date":"2017-01-19T16:49:21","date_gmt":"2017-01-19T16:49:21","guid":{"rendered":"http:\/\/unitelive.org\/?p=11154"},"modified":"2017-01-19T16:49:21","modified_gmt":"2017-01-19T16:49:21","slug":"bargain-basement-britain","status":"publish","type":"post","link":"https:\/\/unitelive.test.igniteamt.com\/?p=11154","title":{"rendered":"‘Bargain basement Britain’"},"content":{"rendered":"
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Jeremy Corbyn has blasted Theresa May\u00e2\u20ac\u2122s \u00e2\u20ac\u015bdemeaning\u00e2\u20ac\u0165 Brexit plan as one that will create a \u00e2\u20ac\u015bbargain basement Britain\u00e2\u20ac\u0165.<\/p>\n

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During prime minister\u00e2\u20ac\u2122s questions the Labour leader launched a withering attack on May\u00e2\u20ac\u2122s threats to punish Europe by making Britain a tax haven<\/a> if EU negotiations go sour.<\/p>\n

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Speaking in the Commons yesterday (January 18) Corbyn told the Prime Minister to \u00e2\u20ac\u015bstop her threat of a bargain basement Britain, a low-pay tax haven on the shores of Europe”.<\/p>\n

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Corbyn said, “It wouldn’t necessarily damage the EU, but it would certainly damage this country – businesses, jobs and public services.<\/p>\n

“She demeans herself and her office and our country’s standing by making these kinds of threats.”
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In response May defended her plan saying \u00e2\u20ac\u015bit was a vision that will shape a stronger future and build a better Britain.”<\/p>\n

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On Tuesday, May laid her plans for Brexit<\/a>, saying that the UK will leave the single market and reject \u00e2\u20ac\u015bpunitive\u00e2\u20ac\u0165 deals from Europe.<\/p>\n

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She warned politicians on the continent that she could lower corporation taxes to poach business and attract investment, if a favourable deal is not struck.<\/p>\n

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Despite May\u00e2\u20ac\u2122s optimism, the Treasury estimates that replacing the single market with free trade agreements will shrink GDP by 6.2 percent by 2030 \u00e2\u20ac\u201c equating to a loss of \u00c2\u01414,500 for every UK household.<\/p>\n

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The Institute for Fiscal Studies predicts that the free trade negotiations, which experts believe will take much longer to complete than the two years Britain has to leave the EU, will cost the public finances between \u00c2\u014124bn and \u00c2\u014127bn \u00e2\u20ac\u201c the equivalent of another year of austerity.<\/p>\n

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One area of the economy that could be hit particularly hard is the services sector, which accounts for 80 percent of the UK\u00e2\u20ac\u2122s GDP and 44 percent of its total exports.<\/p>\n

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The sector is unlikely to be included in any future free trade deals made with nations outside of the EU, meaning a possible drop in overall trade if services exports to Europe decline.<\/p>\n

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In 2015 the services sector made \u00c2\u014189bn worth of exports to the single market, equating to 40 percent of the sector\u00e2\u20ac\u2122s total international business.<\/p>\n

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In an anticipation of potential economic disruption, HSBC<\/a> announced this week that it may move operations that generate around 20 percent of its London financial services revenue to Paris. In September, similar proposals were also made by Credit Suisse.<\/p>\n

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Unite general secretary Len McCluskey said the services sector is just one example of why it is imperative that Britain stays within the single market after leaving the EU.<\/p>\n

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He said<\/a>, \u00e2\u20ac\u015bTens of thousands of Unite members\u00e2\u20ac\u2122 jobs from manufacturing to financial services depend on open trade with the EU market. To throw that overboard without a thought is to play Russian roulette with our prospects and prosperity.\u00e2\u20ac\u0165<\/p>\n

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Jeremy Corbyn has blasted Theresa May\u00e2\u20ac\u2122s \u00e2\u20ac\u015bdemeaning\u00e2\u20ac\u0165 Brexit plan as one that will create a \u00e2\u20ac\u015bbargain basement Britain\u00e2\u20ac\u0165.   During prime minister\u00e2\u20ac\u2122s questions the Labour leader launched a withering attack on May\u00e2\u20ac\u2122s threats to punish Europe by making Britain a tax haven if EU negotiations go sour.   Speaking in the Commons yesterday (January 18) […]<\/p>\n","protected":false},"author":1,"featured_media":9975,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[486,360,561],"wps_subtitle":"Labour leader blasts PM's Brexit speech","_links":{"self":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/11154"}],"collection":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11154"}],"version-history":[{"count":2,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/11154\/revisions"}],"predecessor-version":[{"id":11156,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/11154\/revisions\/11156"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/media\/9975"}],"wp:attachment":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}