In his keynote speech at the Conservative conference in Birmingham, finance minister Philip Hammond said that Britain will unilaterally implement a digital service tax on tech giants if there is no wider international agreement soon.
Philip Hammond’s conference speech rabbit – announces he’ll enforce a Digital Services Tax to force tech giants to pay up if there’s no international agreement. No date given though.
— Tom Newton Dunn (@tnewtondunn) October 1, 2018
“And let me be clear today: the best way to tax international companies is through international agreements, but the time for talking is coming to an end and the stalling has to stop,” Hammond said adding: “If we cannot reach agreement, the UK will go it alone with a Digital Services Tax of its own.”
The chancellor also attacked Labour, calling them “intellectually unequipped” to govern in today’s world. He accused Labour of turning to the ‘socialist manual’ for solutions to every problem.