Singapore
I have said this before but now that Lord Frost has entered the debate it bears repeating. Singapore’s economic system is not what Brexiteers think it is.
For a start Singapore is a huge port serving a vast economic area across Asia, the UK does not and cannot do that in Europe, especially post Brexit.
Singapore also is not really low tax. It has a compulsory savings regime, whereby every citizen has to save huge amounts of their income with the Government, which is then used to pay for health, sick pay, pension etc. This is currently 17% for employees plus 20% for employers.
So a huge tax which somehow the Brexiteers don’t mention when they call for a low tax, low regulation model like Singapore’s.
There are many other factors which would make the Singapore model unworkable in the UK. The major one being that trying to massively cut rules, regulations and standards and then become a trading nation on the edge of Europe is impossible. Because Europe insists on those rules and regulations before you can trade with it.
Not to mention a huge nationalisation programme and state control of major parts of the economy- oh didn’t Lord Frost mention that one either?
The simple fact is that the Brexiteers know nothing about Singapore and care less. The real dream is ultra Thatcherism. Low taxes, low spending, no NHS, massive benefits cuts and a management class that can dictate terms to pathetically grateful drones.
So basically —-Queen Victoria and know your place.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.