Jeremy Hunt sets out plans for Singapore-style low-tax regime

Foreign Secretary Jeremy Hunt has set out his ideas for a post-Brexit Britain that follows Singapore's low-tax model. Writing in the Mail on Sunday, Mr Hunt said the city state managed to plug into "the international economic grid" by slashing taxes after becoming independent in 1965. He added, "There could be few better instructions for us as we make our post-Brexit future".

Mr Hunt's comments may represent a setting out of his stall as a potential successor to Theresa May, who revealed when facing a no-confidence vote in her leadership of the Conservative Party that she will not lead them into the next general election, but instead stand down once the Brexit process is complete.

While some Conservatives favour a Singapore-style low-tax approach, others are less in favour and the Labour Party has repeatedly attacked the idea. Leader Jeremy Corbyn and Shadow Chancellor John McDonnell have argued this would make Britain a "bargain basement" low-tax haven.