Could the UK adopt a Singapore Style post Brexit

Video Transcription:

Hi guys, so one of the questions I get asked a lot, because I actually live in Singapore and obviously the business in the UK. It's an interesting thing because the way that the UK government wants to go, and I believe they want to go, and the way they want to push things, is they're a small island, they've got lots of unique things about them that they can actually effectively call their own. I think one of the things they're going to do is go to a low tax, very competitive environment.

I think it's a great concept that I believe they're trying to do and the German chancellor, Angela Merkel, she said that one of her concerns was about that, that Singapore style, I mean our post Brexit UK. I think the interesting thing is if we were able to pull that off, if the UK was able to pull that off, I think it would be a fantastic thing and I think to be fair, classic one on one branding, it's a great way to brand yourself and it's a great place to come from.

Do I think that they are able to do that? I mean, I think given the absolute ridiculousness of the situation with Brexit and the way the whole thing has gone about and being handled and the way that there is just no joined up thinking, there's no clear vision, inspiration strategy, I think the real challenge we face is that I don't think they'll be able to pull that together. That is my concern, is that it'll either be one of two things, it'll be the rich elite pushing that agenda massively because obviously there's huge tax benefits for them and tax avoidance.

They can stay out of the European market, which was pushing for more and more effectively less corruption, and if we call it what it is, which is a form of corruption, but obviously if politicians do it and they legislate it then it's legal, so it's not corruption. The reality is they're going towards the point where I think if they break away from the EU, they can structure it how they want and what's in their best interest and I think that's not necessarily for the best interest of everyone.

That's a lot of what the Labor Party is saying, which I agree with, is they're trying to get away from the workers' rights and things like that. It's not a good thing to do I don't think. I think yes, it's pro business, big business, not necessarily small business, but because the reality is small business is still suffering with lots and lots of new regulations and all sorts of thing, but the reality is can we do a Singapore style post Brexit UK?

Look, I'd love to say yes and I think it would be a fantastic goal to achieve and go for, but I think there's a lot of things in Singapore that just aren't present in the UK, such as there's no immigrants this and you know that. It is pretty much you're a Singaporean whether you're Muslim, Christian, whatever. Religion plays a big part in a lot of people's roles in Singapore, but it doesn't play a political part and I think that's one of the keys.

Our kids grow up and they celebrate Deepavali, they celebrate Hari Raya, they celebrate all these things so they learn about them and it's not some, there's none of this divisions. We live together with various religions, we live together with various cultures and actually what you're celebrating is less of the religion and more of a culture and I think that that's something that UK hasn't got. It is very segmented, it's very fragmented. It's very you're this, I'm this, we don't trust you guys, we don't like you guys, and a lot of it is absolute crap.

I mean it's these Facebook bubbles that we create, which, well not we create, that effectively Facebook algorithm creates, which is where if you believe a certain thing, you attract those type of people towards you and so your bubble gets reinforced. I think the problem with this, it's a different society now than what it was and look, Singapore had its issues, so there is still a chance and actually I would love them, if Brexit is going to happen, to go down that route and really push for that because I think it could be amazing if they were able to do it right, but I think you need a visionary leader.

I think you need some really strong backing. I mean, Singapore has had one party. Right now we've got about 1,500 parties, it seems. Everybody's got a different opinion and there's not really that much cohesion. Yeah, so do I think Singapore style post Brexit can be done? No, I don't. I don't think that that would be possible. What do I think? I think it's going to be more like the Trump style post Brexit, which is basically that they will say and do whatever they want because they've got no oversight and I think that's the real risk with Brexit right now.

I would love to say, yeah look, I'm all for breaking away and expressing our uniqueness and all that sort of stuff, but I just don't think it's going to happen. The more I read about it, the more I look at the way things are going down, I really feel that people are becoming less and less important. Their vote is becoming less than less important and I know all the issues remaining in Brexit. To be fair, I don't care either way. I'm going to adapt my business and the way I live whichever way it goes.

Now do I have preferences? Yes, I do. I just think that realistically, I just can't see the Singapore Brexit happening, so yeah, that's my take on the Singapore Brexit.

Brett Alegre-Wood
November 19, 2019

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