Economic System is Not Working in Solving Inequality

Will we see a dramatic shift in inequality in the UK following Brexit?

I think, if anything, Brexit will exacerbate the trend toward rising inequality. This is because it will tend to exacerbate things like tax competition and social competition. I think there will be an attempt by the current British government at least to push toward more tax competition to attract the most mobile economic actors, the most powerful corporations, and high income/high wealth taxpayers.

We will see how it goes, it’s too early to say, but that would be the most natural tendency.

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