Sunak’s call for City of London tax exemption proves Tories can’t abide by a deal

Rishi Sunak: after his boss Boris Johnson tried to backpedal on the Brexit trade deal, he’s trying to get out of the G7 tax deal. Pretty soon, nobody will want to deal with these Tories at all.

This is the Northern Ireland protocol of the Brexit trade deal all over again.

Boris Johnson merrily signed up to that without reading it because he wanted the UK out of the European Union by January 1 this year.

Now Rishi Sunak is trying to back the City of London out of a historic global tax change agreed by G7 finance ministers last weekend.

The aim is to ensure that the world’s top 100 businesses pay an appropriate amount of tax in the country where they base their operations, rather than moving their profits around to countries where they can pay the least.

Having agreed to it, Sunak is now trying to get an exemption – but only for the City of London, the super-rich business hub that has recently been losing business to Amsterdam because of – guess what? – Brexit.

He claims that he doesn’t want the UK’s banks to end up paying a grossly higher rate – but research suggests that this will not happen.

So the question arises: why does he really want an exemption? Is it to get all these juicy fat companies to pay their taxes in the UK, even if the amount is minimal?

And, topically:

Doesn’t this prove what we all believed after the Tories tried to back out of the Northern Ireland protocol – that they can’t be trusted to honour any deal so, fairly soon, nobody will want to deal with them?

Source: UK pushes for City of London to be exempt from G7 tax plan | G7 | The Guardian

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1 thought on “Sunak’s call for City of London tax exemption proves Tories can’t abide by a deal

  1. Jeffrey Davies

    Oh dear me more letting of taxes don’t they get of with loads before they even pay disgusting the peasants pay why not them

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