Brexit: France opposes to any tax havens next to Europe

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While the European Union has been trying hard to get a Withdrawal Agreement done before the deadline of Brexit on October 31st, France has come out and said that it would oppose to any Tax Havens being set up next to Europe.

The United Kingdom has been having difficulties to come to an agreement with the European Union with regards to crucial areas like Northern Ireland. United Kingdom Boris Johnson had tabled his proposals regarding a possible settlement to the issue of the Irish Backstop on Tuesday.

According to a report in Reuters, France’s State Secretary for European Affairs, Amelie de Montchalin said ‘France opposed any tax haven being set up next to Europe.’

The minister further said that the negotiations have been difficult due to the uncertainty in the UK Parliament. Johnson, who assumed power has faced six defeats in the Parliament while his predecessor Theresa May had her Brexit plan rejected by the Parliament thrice.

The European Union has closely been monitoring the situation in the United Kingdom which is on its way out of the Union by October 31st. The UK government under Boris Johnson had planned to leave the Union without a deal, a plan which the UK Parliament had opposed.

If the UK does not have an agreement with the Union by October 19th, it would have to seek an extension as per the law which was passed in the UK parliament to avoid a ‘no-deal brexit’

(Inputs from agencies)

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