UK tax and spending policies are being considered in the event of a no - deal Brexit , according to a Financial Times report . The report suggests Project After has been proposed by cabinet secretary , Mark Sedwill to look at fiscal policies to mitigate any economic impact if the UK leaves the EU without a deal . Cuts to corporation tax and VAT could be used to encourage investment . Meanwhile , a second Brexit scheme , Project Bluebell , is reportedly looking at protective measures for the car manufacturing , agricultural and pharmaceutical industries if no deal is reached .
UK tax and tariff cuts are being considered in the event of a no-deal Brexit, according to a Financial Times report. The report suggests Project After has been organised by cabinet secretary Sir Mark Sedwill to look at emergency policies to mitigate any economic impact if the UK leaves the EU without a deal. Cuts to corporation tax and VAT could be used to encourage investment. Meanwhile, a second Brexit scheme, Project Bluebell, is reportedly looking at protective measures for the car manufacturing, agricultural and pharmaceutical industries if no deal is reached.