Could Taxes and the Pound Threaten the Best League in the World?

These days most people think that the Premier League is the Best League in the World. However, Arsenal manager Arsene Wenger believes that proposed changes to the English taxation system will soon change the league's status:

"Don't worry, that time will soon be over because with the new taxation system and with the collapse of sterling... the domination of the Premier League will end....The pound was at 1.45 or 1.60 (euros) at one stage...from one day to the next it will be a financial problem for all the English clubs.'' (Source)