Friday, March 31, 2017

German MEP orders Britain to cut off COMMONWEALTH STATES in latest Brexit demand

A GERMAN MEP is calling on Britain to rescind its relationship with a plethora of Commonwealth states as negotiations continue with Brexit. The MEP is demanding the UK Government cancel all existing tax haven policies, meaning it would have to cut its relationships with key partners in the Commonwealth in an early Brexit demand. Prime Minister Theresa May would have to cut off ties with the Cayman Islands, the British Virgin Islands, Jersey and the Isle of Man if it was to listen to the German MEP. Almost two and a half billion people live in the 52 independent and equal sovereign states which make up the group whose head is Her Majesty The Queen.The states all currently trade with Britain, albeit under existing European Union (EU) rules and regulations. Now Brussels MEPs, led by the German Greens, want the country to commit an act of extreme isolationism in its bid to adhere to its demands. In a statement issued earlier today, MEP Sven Giegold, who was educated in Britain, said the UK must adhere to his demands.Born in Las Palmas de Gran Canaria, Spain, Mr Giegold grew up in Hanover, Lower Saxony and sits on the the Committee on Economic and Monetary Affairs. He said: "The Greens cannot accept that, post Brexit, the UK maintains such a degree of influence over financial markets legislation in the union. "On the contrary the negotiations present a good opportunity to ensure that the UK does finally end all tax haven policies. "This is in the best interest of Europe as a whole as well as more equality in Britain.” However the questionable demands have been branded excessive by Ukip who say that the attempt to interfere with the UK's strategic relationships is questionable. Ukip MEP Bill Etheridge responded to the letter, saying: "The Greens have no concept of the modern world or the point of wealth creation".Mr Etheridge, who is chairman of the libertarian Indigo Group which promotes low taxes and deregulation, said it was "unacceptable to interfere in the UK's relationships with other countries, including our Commonwealth. "Governments hinder job creation with excessive regulation and it is job creation which gets people out of poverty. "Their financial fantasies have no place in 21st century and would even appear backward at Glastonbury." The Lisbon Treaty does not impose any financial penalties on Britain should it leave the EU without a withdrawal agreement. Accordingly, the UK can actively remove itself from the EU, and it is under no obligation to settle any new financial arrangements. Britain has indicated that the EU will continue to receive funding from its Foreign Aid budget which accounts for 0.7 per cent of its gross national income (GNI).However recent demands from Brussels politicians which laid down additional settlement costs of as much as £50billion plus the £91billion total contribution committed over the next three years have sparked fury. Hedge fund founder and lawyer Christopher O’Donnell told in February that the UK can opt to trade with EU countries using World Trade Organisation tariffs which would even save the country billions from the "Day One Scenario" being contingency planned by civil servants. He said: "Britain is the sixth largest economy in the world and is no backwater minnow that must comply with the erroneous demands of an overbearing unelected big brother or economically starve”. “In addition to London being the financial centre of the world, in 2016 the UK had a trade deficit of approximately £68.7billion with the EU. "If Britain and the EU stop trading with each other, the EU will suffer tremendously more than Britain. "Britain has both the legal and commercial muscle to dictate its exit terms to the EU and it would be jolly good if Britain citizens embraced this.”

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