Tuesday, October 16, 2018

Swinson and Cable call on Hammond to work with EU on taxing tech giants


Liberal Democrat Deputy Leader Jo Swinson MP has written to the Chancellor of the Exchequer calling on him to throw his weight behind a new EU tax on tech giants. 

Leader Vince Cable has co-signed the letter, which urges Philip Hammond to use the Budget to set out how he will incorporate the EU's initiative into any Treasury initiative to tax big internet firms. 

Following reports that a new European tax on internet companies could be agreed by the end of the year, Jo said:

“I urge the Chancellor to focus his energy on making this EU-wide tax happen. This is a golden opportunity that we cannot afford to miss.

“Tech giants are getting away with not paying their fair share of tax because we make it easy for them.

"The time to act is now if we want to create a level playing field for businesses in the UK and give our struggling high streets a much needed boost.

“Britain is always at its best when it brings countries together in a common cause. If we want to tax tech giants we must work together with our European allies and others around the globe.”

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