Germany's Schaeuble warns Britain against big corporate tax cuts

Record ID: 78050

  • Title: Germany's Schaeuble warns Britain against big corporate tax cuts
  • Date: 21st November 2016
  • Summary: BERLIN, GERMANY (NOVEMBER 21, 2016) (REUTERS) VARIOUS OF HEINRICH BOELL INSTITUTE PEOPLE LISTENING GERMAN FINANCE MINISTER WOLFGANG SCHAEUBLE ON PANEL DURING BOOK PRESENTATION VARIOUS OF SCHAEUBLE LISTENING PEOPLE IN AUDIENCE (SOUNDBITE) (German) GERMAN FINANCE MINISTER, WOLFGANG SCHAEUBLE, SAYING: "As to the possible British - should this actually happen, there are some reports... - well they are still a part of the European Union and as far as their tax-dumping plans as you are implying - Great Britain is still a member of the European Union, they still haven't submitted a request to leave, so they are still bound to European law. Secondly, even if they should one day not be a member of the European Union they are still bound to what they signed at the G20 Summit in Antalya. At least they are if they are decent people. Because we endorsed the BEPS initiative at the G20 Summit in Antalya and all member states committed themselves to exactly not do this. What will happen in concrete terms, we will see." PEOPLE LISTENING MEDIA FILMING WIDE OF SCHAEUBLE SPEAKING
  • Embargoed: 6th December 2016 14:17
  • Keywords: Schaeuble Britain EU Brexit tax dumping
  • Location: BERLIN, GERMANY
  • City: BERLIN, GERMANY
  • Country: Germany
  • Topics: Economic Events
  • Reuters ID: LVA00159E1FV1
  • Aspect Ratio: 16:9
  • Story Text: German Finance Minister Wolfgang Schaeuble warned Britain on Monday (November 21) against massive corporate tax cuts, saying that as long as the country remained a member of the European Union it must abide by the bloc's rules.
    "Britain is still a member of the European Union," Schaeuble said when asked whether plans by Britain to cut corporate tax could trigger a dumping competition. "So they are bound by European law."
    A spokeswoman for British Prime Minister Theresa May said on Monday the government had already outlined measures to cut corporation tax to 17 percent by 2020 and described any talk of further cuts as "speculative".
  • Copyright Holder: REUTERS
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