George Osborne’s plan to slash the corporate tax rate is the right response to Brexit. The only way for the UK to survive Brexit is to become the most business friendly country in Europe.

Oxford Economics analysed nine different scenarios for Brexit several months before the referendum. Their conclusion was that liberal economic policy combined with liberal trade agreements with the EU and the rest of the world would mean no significant deterioration from the baseline scenario (i.e. what would happen to the British economy without Brexit). All other eight scenarios were worse than the baseline scenario.

Consequently, the first step is to liberalise the British economy further. The second step is to reach a pragmatic trade agreement with the EU.

The only problem is that the EU does not seem very pragmatic at the moment. Quite the contrary. Jean Claude Juncker and Martin Schulz (the heads of the Commission and the Parliament) are hell-bent on teaching the Brits a lesson – even if it means trouble for the entire EU.

Joachim Löw ought to tell Messrs Juncker and Schulz that one should not respond to an opponent’s own goal by kicking the ball in one’s own net. Let’s hope some sanity will return to both sides of the Channel soon.