The Apple Fiasco Shows Why Corporation Tax is an Outdated Anachronism

by Allister Heath

Silicon Valley has always loved the EU, or at least imagined it to be a benign, pro-market force. I was reminded of this recently when I visited the San Francisco Bay Area: many tech executives were baffled by our decision to vote Brexit.

I suspect at least some senior people in Cupertino, Mountain View and Palo Alto are questioning their beliefs today; ironically, the supposedly pro-EU Obama administration itself is angry at the way Brussels is trying to grab a slice of cash piles being kept overseas by US firms.

With the collapse of the TTIP trade deal, a new bout of US-EU tension is on the cards, a development which helps nobody. Once again, it’s a case of liberals (in the American sense) being mugged by the grubby reality of Brussels.

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