Britain, out of harmony again
Article Abstract:
The United Kingdom appears likely to join the single European currency, and plans to play a leading role in Europe, but is reluctant to accept political integration and European approaches to labor markets. France and Germany want tax harmonization in order to prevent tax competition giving an unfair advantage. UK chancellor, Gordon Brown, aims to keep corporation tax low, and is reluctant to raise corporation tax in line with the rest of Europe. The UK could use a veto, but this would not permit the UK to play a leading role in Europe.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Article Abstract:
There is concern in the United Kingdom about European Union tax policies and this follows calls for tax harmonization in Europe. Firm proposals on tax reform have yet to be made, and some tax harmonization has already been carried out. Germany and France argue that tax competition through lower taxes on business is a problem that should be tackled. The United Kingdom could use a veto on changes to taxes in Europe, but cannot veto legal judgements which could arise as European law develops.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Preparing to fly: European monetary union
Article Abstract:
The Centre for Economic Policy Research's June 3, 1997 report, 'The Ostrich and the Emu,' argues that Europe's transition to a unified currency will strongly influence the British economy, whether the UK participates or not. This is due in part to the UK economy's sensitivity to interest rate volatility.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1997
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