There’s a lack of joined-up thinking here.
Rishi Sunak has been trying to float the idea of a tax on online retailers, to fund a cut in business rates for High Street businesses.
But those very firms have contacted that Chancellor to point out that such a tax would hit them as well – they have websites too.
In a letter to Sunak, dated May 27, the companies and industry groups involved stated: “We believe an OST would… hurt – not help – the high street, and stifle retail innovation and investment.
“The burden of business rates on retail is too high and needs reforming, but an additional tax on a sector that is already overtaxed is not the answer.
“Retailers would have little choice but to pass on an OST to consumers in the form of higher prices thereby fuelling inflation,” they state. The burden “is likely to fall heaviest” on groups including “people on lower incomes”.
Perhaps This Writer is missing the point, but wouldn’t it be logical to use the tax system in order to achieve the required effect?
So perhaps a reduction in business rates paid by firms that have physical shops, in tandem with the introduction of a levy on online retailers would hit the right spot?
The problem here is that Sunak is not intelligent enough to find a nuanced way forward.
Asking him to find answers to these problems is like asking a surgeon to operate while wearing boxing gloves.
Source: Rishi Sunak’s online sales tax will hurt the high street, retailers warn
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Rushi Sunak is only capable of making huge sums of money and increasing his bloated wealth. He is too stupid to see that robbing Peter to pay Paul doesn’t work! Never mind fascist tories produce more stupid and worthless ideas and woe betide anyone who dares to show them for the stupid morons they are because the fascist tories believe they are little gods. Little gods know everything and nothing which is why they are infallible!
Disabled and housebound here, so everything I do is over the internet from shopping to paying bills. A new tax on this sector will doubly hit me where it hurts lol
Over 50s – saves all ages – party lowers small profit corporation tax, whilst increasing beyond Tories the corporation tax on the biggest firms. Further, offers that small profit corporation tax on a greater range of profit for small to medium firms.
over50s party org uk
We hear them speaking so much about ‘the economy’ and the ‘stock market’ and ‘recession’ etc But none of this is ever really about the people who live and work in this country. The economy could be booming and yet we would feel no difference. Where I live we had only just begun to enjoy some sustained growth after the nightmare that was the 80s and early 90s when we went into the ‘Credit Crunch’ and things have gotten steadily worse ever since. That was 14 years ago and I look at my local town centre where we have more empty shops than we did in the 80s when we had over 30% unemployment due to the enforced deindustrialisation of the Tories. With COVID on top of this, the results of the Tories not capping the producers and only capping energy suppliers and the results of the sanctions on Russia I think we can expect things to be as bad for as long again. Of course in a few years the government will be telling us how great things are but we’ll be just as poor, wages won’t have risen in line with prices, we won’t be able to afford decent housing to rent or buy and services will have been cut to the absolute bone. They’ll do what they always do – what’s good for THEM..