Britain will not have ‘Mad Max’ economy

LONDON – Brexit minister David Davis will say on Tuesday that Britain has no plans to recast itself as a regulation-light economy undercutting rivals on the continent, as he attempts to dispel a major concern of European Union leaders.

In the second of several speeches by ministers intended to lay out the government’s plans for Brexit, Mr Davis will tell business chiefs in Austria it is mistaken to think Britain will focus on deregulation after it leaves the trading bloc.

“They fear that Brexit could lead to an Anglo-Saxon race to the bottom.

“With Britain plunged into a Mad Max-style world borrowed from dystopian fiction,” Mr Davis will say, according to excerpts of his speech.

“These fears about a race to the bottom are based on nothing, not history, not intention, nor interest.

“But while I profoundly disagree with them — it does remind us all that we must provide reassurance.”

Since Britain voted to leave the EU, supporters of Brexit have argued that removing the costs imposed by EU rules is one of the main benefits of leaving the trading bloc.

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