Corbyn’s Labour sets sights on multinationals’ tax bills

Britain’s opposition Labour party said yesterday if it wins the country’s next general election it would force large corporations such as Starbucks, Vodafone, Amazon and Google to pay their “fair share” of taxes to help end austerity policies.

In a speech aimed at silencing critics who say Labour has moved too far left under its new leadership, finance spokesman John McDonnell largely struck a more moderate stance than previously on central bank independence and taxing financial transactions.

But he said the party, led by veteran lawmaker Jeremy Corbyn, would be “aggressive” in balancing the books, ensuring spending cuts do not hit middle or low earners while attacking the “corporate welfare system” of tax incentives for companies.