How the Retail Sector can be better off after the UK leaves the EU

Once again we are seeing a large retail chain under threat. For the time being, with the takeover of House of Fraser, that threat has been averted, but for how long?. Over the last decade, retail chain after retail chain has fallen victim to overseas multinationals selling online from tax havens. How can we protect our retail heritage and at the same time ensure that the multinationals are paying tax on everything they sell in the UK?

The answer is a Lexit Brexit. After we leave the EU, the UK will be no longer fenced in by the EU trading laws that favour the tax avoiding multi-nationals. After a Lexit Brexit, a Green Party in Government will be able to ensure that all trading in the UK is done through a UK institution and ensure all profits are taxed when they are distributed either to an individual or to another corporate entity (see tax voting paper being put to the 2018 Green Party autumn conference in Bristol).

Photo: visitlondon.com

Such radical reforms of the taxation system are impossible in the straitjacket imposed by the unelected officials in Brussels who control the EU fiscal policy. Outside of the EU, we can, if we have the right Government, protect British industry, agriculture and commerce and begin to, at last, reduce the massive and unsustainable balance of trade deficit we have with the rest of the world. Rather than being a threat to the retail sector, Brexit could be its saviour.