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At the same time, more than a third of those probed said their organisations were still in wait-and-see mode, suggesting they expected to have to change operations after Brexit, but were unwilling to act until they can be certain of what needs doing. While in an increasingly tightening and cost-conscious market, this can make sense in the short-term, of the potential scenarios in which the cost of change is weighted against the possible pitfalls of a Hard Brexit, this tactic could cost firms dearly in the long-run.

This has proven a difficult proposition for many businesses in recent months, but none more so than Unilever. This surprisingly made Dublin the most popular post-Brexit location, exceeding the number of institutions headed for Frankfurt 12 , Luxembourg 11 and Paris 8. As such, this particular result arguably shows that businesses are aware of the opportunities that Brexit could present them; angling for softer corporate taxations by wielding their own exit from UK soil as a thinly veiled threat to achieve that.

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However, with that being said, it is a behaviour that many corporate entities already engage in anyway, even in the absence of a Brexit-type scenario, as a global race to the bottom continues seeing capital being taxed less and less, while civilian tax payers lumbered with the financial burden of subsidising public infrastructure that the users of tax havens are all too happy to leverage for a proportionally lower price. At the same time, merely leveraging Brexit anxiety to push for tax breaks does not constitute a functional Brexit strategy.

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