Biden’s global corporation tax plan is hugely popular, so why isn’t Britain backing it? | Polly Toynbee
The Tories claim UK corporation tax will be higher than the US’s proposal, but the suspicion is this plan will be dropped
When something radical is proposed by an American president the idea stops being “leftwing” and soon becomes blindingly obvious common sense. Of course the world should agree a minimum corporation tax rate to stop a race to the bottom in which countries undercut each other, depriving themselves of tax revenues, needed now more than ever.
Never waste a good crisis: there’s no better time for change than following this global disaster when every country needs to repair its economy. Adopting a universal tax floor ends once and for all the scandal of tax havens where apparently respectable companies, pretending to all kinds of bogus corporate social responsibility, hide their money from the citizens that sustain them.
