In 2018, the UK is expected to leave the EU, while Ireland will enter it, according to the UK’s Brexit Secretary David Davis.
The UK, which is due to leave by the end of March, is set to become a “double-taxed” country, with its current £20,000 rate of corporation tax on wages and pensions, as well as its current 5 per cent rate of income tax, being doubled to 10 per cent by 2019.
Davis said he wants the UK to be a “fairer” and “more competitive” place for multinationals, with tariffs and other barriers to trade lifted.
It will also be “a more open” country in international trade and be more “flexible” on EU issues, such as migration and climate change, he said.
Davis told BBC Radio 4’s Today programme on Sunday that “the UK is not a zero-sum game, but a world of its own, where you get to choose the kind of place you want to live in”.