Responding to the announcement that G7 finance ministers have endorsed a unified stance on corporation tax, Liberal Democrats Treasury Spokesperson Christine Jardine MP said: “This is a long-overdue step towards tackling tax avoidance by some of the most profitable companies in the world.
“It is crucial we push ahead with these steps in order to prevent tech giants exploiting loopholes in our tax system, and these changes must be embraced by the G20, OECD and the rest of the international community.
“This Government did nothing to tax the excess profits made by large corporations that benefited from the pandemic. They must now use this opportunity to the fullest to ensure tech giants finally pay their fair share.
“This is an opportunity to ensure that those giants who have made huge profits in this pandemic cannot dodge their responsibilities and that they pay their fair share towards recovery.”