Nigel Farage has warned the UK to make sure it leaves the EU by the end of this year no matter what or face a huge bill imposed by an even more powerful Angela Merkel and Brussels.
Nigel Farage issued the warning after exposing German Chancellor Angela Merkel’s plan for the bloc. Germany is set to take over the six-month presidency of the bloc in July, and Mrs Merkel has already plotted a radical agenda that has terrified eurosceptics.
The German leader, Angela Merkel said her agenda would include promoting a European health care system for all member states, a financial transaction tax, minimum tax rates and a joint carbon emissions trading scheme for planes and ships.
Mrs Merkel had earlier this week said her country’s presidency will be “clearly dominated by the issue of combating the pandemic and its consequences”.
Nigel Farage revealed to Julia Hartley-Brewer on talkRADIO that the UK had to leave by the end of 2020, or the country’s economy will suffer greatly.
He said: “We have left the EU politically but not economically! The Germans are taking over, Merkel is taking over from July 1st with the rotating six-month presidency of the EU.”
“Her goal for that six months is to set minimum tax rates for the European Union. To put into place a European Health Service and to harmonize corporation tax rate and crucially a financial transaction tax.
“If that was to happen, all of those rules would apply directly to us because we are still paying money to be in this single market.
“Any laws directly apply to us. I cannot think of anything that would be more damaging than a financial transaction tax to this country,” he said.
Adam Smith Institute head of research Matthew Lesh echoed this, saying: “We have rightly thrown our economy into the ICU to protect lives. The last thing we should do is strangle the patient before they have time to recover.
“These proposals would actively discourage everything we now need – a thriving economy in which companies employ and transact. A financial transaction tax that undermines the business activity we now need would be disastrous.”
Head of regulatory affairs at the Institute for Economic Affairs, Victoria Hewson, said the proposals highlight the importance for the UK to have regulatory autonomy from the EU.
“A financial transaction tax has been on the EU agenda for a while. The UK and some other member states strongly resisted it but there was always a risk that the UK could be outvoted under qualified majority voting and be forced to implement it.
“Without the tax applying to transactions in the City of London, it is unclear how much revenue such a tax would raise in the EU, especially if it encourages more business to move out of the EU, which would clearly be seriously counterproductive to any post-coronavirus recovery.”