Think tank urges UK government to back Biden’s global tax plan
A British official said that fixing the issue of giant multinational companies’ tax habits would restore a level playing field and address an economic injustice
By Gwyn Topham / The Guardian
The UK would reap an extra ￡4.7 billion (US$6.65 billion) annually by adopting US President Joe Biden’s proposal for a new global minimum corporation tax rate of 21 percent, the Institute for Public Policy Research (IPPR) Centre for Economic Justice has said.
The think tank has urged the British government to embrace and push for Biden’s proposals at the forthcoming G7 summit, arguing that the global system would be fairer and allow the UK to raise billions in vital revenue.
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