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Can you fathom the logic behind Jeremy Corbyn’s latest suggestion?

by on August 23, 2018 in Latest News, Lead Article, News you can use, Nuggets, Research, Social Media

It’s hard to fathom the logic behind Jeremy Corbyn’s latest suggestion about how to tackle the power of the US tech giants.

Just about every news outlet in the UK is reporting today that the leader of the opposition wants to see a windfall tax on the tech giants that would pay for more independent journalism.

Amazon, Netflix, Google and Facebook are the companies most frequently referred to.

The argument is that the tech giants have way too much power in our media landscape, yet avoid paying their fair share of tax, and this stunts the growth and viability of other media organisations.

Not sure if it’s me, but isn’t that the most ridiculous rubbish you’ve ever heard? Now, I’m the first one to say the US tech giants need to be held to account on tax. They use clever methods to legally (repeat, legally) avoid accounting for and paying full UK on profits that are derived from their business in the UK. Amazon, it should be pointed out, insists it now accounts for its UK business in the UK.

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