The U.K. should avoid any drastic steps to cut corporate taxes, or similar measures, as it prepares to start talks on leaving the European Union, Swedish Prime Minister Stefan Loefven said.
The premier of the largest Nordic economy also said the U.K.’s exit from the 28-nation bloc ‘shouldn’t take longer than necessary.’
‘But if the U.K. wants some time to think about the situation, this will also give E.U. countries some time,’ Loefven told Bloomberg after giving a speech in Stockholm on Sunday. ‘On the other hand, you hear about plans in the U.K. to, for example, lower corporate taxes considerably. If they, during this time, begin that kind of race, that will of course make discussions more difficult.’
U.K. policy makers are now dealing with the fallout of the June vote backing a Brexit and are looking at the first part of next year to start formal talks. Prime Minister Theresa May has delayed starting Britain’s exit as she puts together a team and prepares for what will inevitably be tough negotiations.
This post was published at bloomberg
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