President Biden’s plan for a global minimum rate of corporate tax is a once in a generation opportunity to stop tax avoidance by large multinationals. Online giants, like Amazon, saw huge increases in sales over the past year but paid hardly any tax in the UK. They undercut British businesses who pay their fair share of tax and leave our high streets struggling. President Biden’s plan would mean an additional £13.5bn a year extra to invest in public services and make sure we have thriving high streets and town centres at the heart of our communities.
This week, the Labour Party forced a vote in Parliament calling on the Government to support this plan when the G7 meets next month. The Tories voted against this amendment, shamefully siding with tax avoiders over British businesses and communities. You can see my question to the Prime Minister, and his obfuscating non-answer here >>