Third, the Treasury must prepare a Brexit budget to identify businesses – including ‘just in time’ manufacturers – most at risk from a departure on WTO terms. We should cut business taxes to boost them as they transition, and offset the cost from the £39 billion the UK would have paid the EU.It's disingenuous and mendacious.
First, the UK will not avoid having to make a very large payment to the EU. It may not be in 2019 with a clean break, and it may not be as much as £39bn, but even if we kick it over to the International Court in the Hague, I suspect we may have have to end up paying as much as half, say £20bn.
Second, compensatory tax measures should be limited to UK owned and headquartered firms. We know Airbus, whose aircraft wings are made here, is not one. Nor should we compensate any EU firms with satellite plants in the UK - it has been the EU's bloody minded intransigence that has precipitated a clean break scenario.
Raab's Telegraph piece appears to have been co-ordinated with the global corporates, who are this morning whining at full chat and demanding taxpayer cash to enable them to continue paying multi-million pound bonuses to their bosses, or they sack Welsh workers.
My own view is that in the end we won't get a Clean Break Brexit. May's government is now orchestrating a full scale national panic - the end play of Project Hysteria - that will act to terrify the Commons into submission early in the new year. Some minor concession from Brussels and MPs, and the symbiotic Axis pact between government and the big corporates will continue - and bugger the people of Britain.