Tom Watson responds to proposed digital services tax
Tom Watson MP, Labour’s Shadow Secretary of State for Digital, Culture, Media and Sport, commenting on the new tech tax, said:
“The tech giants do need to pay more in tax, but the measure announced today is pittance for these massive international companies.
“Under the Tories the percentage of tax paid by the big five tech companies has halved since 2013.
“The new tax isn’t even set to be implemented until 2020 at which time the tech giants will start to enjoy a 2% cut in their corporation tax rate.
“The lack of ambition in this announcement is derisory.”