Michael Noonan: Tax laws will stop UK haven plans

The UK will have to play by international rules after it exits the EU, limiting its ability to use tax breaks to woo investors, said Finance Minister Michael Noonan.

Prime Minister Theresa May will be bound by Organisation for Economic Cooperation and Development guidelines after Brexit, Mr Noonan said yesterday at the World Economic Forum in Switzerland, when asked if the UK could become a lightly regulated, low-tax rival for the EU.

Potential UK company tax cuts aren’t a major concern, Mr Noonan said.