PARLIAMENTARY WRITTEN QUESTION
Multinational Companies: Taxation (4 January 2019)

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing taxes on global corporations and using any additional revenue raised to the public purse to reduce taxes for families.

Asked by:
Sir John Hayes (Conservative)

Since 2010, this government has taken unprecedented action to ensure that large multinationals pay their fair share of tax in the UK. For example, at Budget 2018, the Chancellor announced the introduction of a new Digital Services Tax (DST) from April 2020. This will raise around £1.5bn across four years.

At the same time, the government remains committed to keeping taxes low for working people. A typical basic rate taxpayer will pay £1,200 less in tax in 2019-20 than in 2010, and we’ve announced plans to freeze fuel duty for the ninth year in a row.

The government will continue to keep all tax policy under review.

Answered by:
Mel Stride (Conservative)
14 January 2019