Rishi Sunak insists UK will not return to austerity
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Jayne Adye, director of grassroots pro-Brexit campaign group Get Britain Out, was commenting on Britain’s decision to sign up for Mr Biden’s plan for a global minimum rate of corporate tax earlier this year – something she claimed was “one of the last things we should be doing”. In addition, she highlighted the case of UK Aerospace specialist Meggitt, which has contracts with the Ministry of Defence and produces key components for Boeing, Airbus and BAE Systems.
The company has received a £6.3billion takeover bid from US rival Parker Hannifin and another separate £7billion bid by another US firm TransDigm, raising the prospect of it soon being US-owned.
Ms Adye said: “In the five years since then, Brexiteers have had to fight tooth and nail to implement the vote to leave the European Union, a fight which is far from being over.
“Even if it was, the principle of ‘Taking Back Control’ goes far beyond just our relationship with the EU.
“It is a mentality which must persist into our existence as an independent nation and factor into our every decision within the international community, making sure we are never again under the control of a foreign power.“
Some might say a global minimum Corporate Tax rate was a “noble goal”, Ms Adye acknowledged.
However, she said: “Now we are out of the EU, this policy is one of the last things we should be doing.”
She explained: “Signing up to such a globalist policy takes away our autonomy to encourage growth and investment in our own country at a time when we are now in direct competition with others and trying to fight back from a devastating economic crisis.
“As of now, yes, we work very closely with our American and European allies, however the sands of international politics shift very quickly.”
As an independent country, the UK should not expose itself to “unnecessary vulnerabilities” which could “undermine national security”, Ms Adye stressed.
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She added: “You can be certain if it were British companies launching takeovers of American defence companies, there would be a lot more resistance than we see from our own Government.
“The last thing we should be doing as a newly independent nation is surrendering the powers we have only just regained, or handing over control of our critical industries to foreign powers and companies.”
With reference to Mr Johnson himself, Ms Adye said: “The Prime Minister has talked endlessly about ‘Levelling-Up’ and pushing to ‘Get Brexit Done’.
“Yet all this means nothing if we are not fully in control of what is happening in this country – as was the case during all those years we were members of the EU!
“International cooperation can be excellent, and the UK should try to take a leading role in trying to resolve the biggest issues facing the planet.
“However, now we are finally outside the European Union, we must not abandon the principles of ‘Taking Back Control’, because we must make sure this country is in the strongest position to succeed, whilst safeguarding our own priorities.”
Explaining Britain’s decision to join forces with Mr Biden in June, Chancellor Rishi Sunak said the G7 had agreed to the principle of a global minimum corporation tax on large firms of at least 15 percent operated on a country-by-country basis, creating a more level playing field for British firms and cracking down on tax avoidance.
He added: “I am delighted to announce that the G7 finance ministers today, after years of discussions, have reached a historic agreement to reform the global tax system to make it fit for the global digital age and crucially, to make sure that it’s fair so that the right companies pay the right tax in the right places,”
A communique issued by the G7 pledged appropriate coordination between the application of the new international tax rules and the removal of all digital services taxes.
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