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MP votes for multinational giants to pay fair share of tax in Britain

May 25, 2021 4:49 PM

Last night in the House of Commons, local MP Tim Farron voted to force multinational corporations to pay their fair share of tax in the UK.

Tim voted for an amendment to the Government's Finance Bill, which would see Britain back US President Joe Biden's calls for a minimum rate of corporation tax to apply across the world.

This would prevent multinational businesses being able to move their profits overseas which allow them to pay less tax in Britain and undercut British businesses.

The plans currently have the backing of the governments in every G7 country apart from the United Kingdom, after the amendment was voted down in Parliament by 364 votes to 261, with not a single Conservative MP voting in favour of the proposals.

Tim said: "Local businesses on our high street are the lifeblood of our economy, but the disruption caused by the covid pandemic means that many of them are now on their knees.

"It's high time that we eased the burden on these businesses by forcing the big, multinational corporations to pay their fair share of tax instead.

"So it's bitterly disappointing to see the Conservative Government refusing to join calls from the US, Germany, Japan, Canada, Italy and France to finally take the action required to make this happen."