Corbyn’s Labour sets sights on multinationals’ tax bills

Jeremy Corbyn

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.

“Labour’s plan to balance the books will be aggressive,” he told his party’s four-day annual conference in Brighton.

“We will force people like Starbucks, Vodafone, Amazon and Google and all the others to pay their fair share of taxes,” said McDonnell, a hard-left former trade unionist who has in the past advocated re-nationalising banks and imposing wealth taxes.

For a man who lists the overthrow of capitalism among his interests in the Who’s Who directory of influential people, McDonnell tried to ease concerns over his party’s policy on the central bank and taxes.

Reuters


Lifestyle

Incarcerated in Auschwitz and other Nazi death camps Zuzana Ruzickova somehow survived and went on to create the complete recordings of her beloved Bach, writes James Lawless.Book review: Nazi horrors replaced by brutal Soviets for piano player

The Menu was delighted to make recent mention of a new UCC postgraduate diploma in Irish food culture and is equally pleased to announce availability of two new bursaries for same.The Menu: Food news with Joe McNamee

Milky skincare ingredients keep skin fresh and often suit the whole family, it’s moo-vellous, writes Rachel Marie Walsh.Product watch: Milky skincare ingredients for the whole family

George Orwell’s classic novel foretold a lot, but the manner in which we’ve handed over our personal data to faceless corporatocracies is doubleplus-ungood, says Suzanne Harrington.How we sleepwalked into George Orwell’s nightmarish vision

More From The Irish Examiner