Meanwhile, World Bank says we’re better than Germany AND France for businesses

BRITAIN is one of the best countries in the world in which to do business, according to a report by a leading global watchdog.

The UK was ranked seventh in the World Bank’s Doing Business report – leaving european rivals including Germany and France trailing in its wake.

The findings underlined just how difficult it will be for countries on the Continent to poach business from Britain after Brexit.

German and French politicians in particular have sought to tempt businesses to relocate from the UK to cities including Frankfurt, Berlin and Paris.

In a desperate bid to attract bankers based in London, France ran an advertising campaign with the slogan: ‘Tired of the fog? Try the Frogs!’ But Denmark was the only european country ranked higher than Britain in the report, taking third spot behind New Zealand in first and Singapore in second. The rankings are based on a range of factors including how easy it is to start a business, secure funding, access electricity and deal with construction rules.

The World Bank also praised the low level of tax faced by small businesses in Britain – something that could be reversed by Jer- emy Corbyn who has pledged to raise corporation tax if Labour wins power.

The UK’s position was unchanged on last year and made a mockery of claims the Brexit vote represented a turn inwards towards more protectionist policies.

Rita Ramalho, acting director of the global indicators group at the World Bank, said: ‘The UK is a good place to do business because it is simple and very affordable to start a new business. The tax burden on small and medium size businesses is low and easy to comply with, the process of importing and exporting is straightforward, and commercial courts are very efficient.’

Brexit-backing Conservative MP Jacob Rees-Mogg said: ‘The good news keeps coming even though the Bank of england wants to deny it.’

Bank of england Governor Mark Carney recently described the vote to leave the eU as an example of ‘de-globalisation not globalisation’ – making it a ‘unique’ event in the past 50 years.

But Brexit backer John Longworth, the former head of the British Chambers of Commerce, said: ‘The World Bank has once again placed Britain high on the list of best places to do business.

‘With the freedoms that Brexit will bring there is no reason why the UK cannot be the number one place in the world.’