EU and UK must be flexible in Brexit talks: U.S. Treasury's Lew

England and the European Union ought to both show adaptability when London arranges its future association with the coalition, U.S. Treasury Secretary Jack Lew said on Tuesday, cautioning Britain around a proposition to cut its expense rate.

Lew said in the wake of meeting French Finance Minister Michel Sapin in Paris that it was in light of a legitimate concern for every one of that discussions amongst Britain and the EU create an "exceptionally coordinated relationship".

"It is essential that both sides exhibit adaptability keeping in mind the end goal to create a neighborly and commonly worthy result," Lew told a news gathering with Sapin.

"It is likewise important that arrangements occur in a smooth, down to earth and straightforward way," he said.

France is squeezing for Britain to rapidly look for formal transactions with the EU about its flight keeping in mind the end goal to diminish the instability its submission has made.

French authorities have additionally communicated worry that Britain has officially raised the likelihood of cutting its corporate expense rate further with a specific end goal to stay aggressive globally after it leaves the EU, a worry Lew likewise seemed to share.
U.S. Treasury Secretary Jack Lew (L) and French Finance Minister Michel Sapin arrive at a news conference at the Bercy Finance Ministry in Paris, France, July 12, 2016.

"We must be extremely watchful as we every make our own particular national approaches not to make strides that make focused weights to drive down duty rates in a way that winds up turning into a financier for the sort of exercises that we are attempting to shorten," Lew said.

England declared plans a week ago to slice corporate duty to under 15 percent trying to pad the stun of the nation's choice to leave the EU.

(Reporting by Leigh Thomas; Editing by John Irish)
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