Shameless web giants’ Budget threat

GREEDY web giants are threatening to slash post-Brexit investment if we force them to pay more tax.

TechUK, which represents companies including Amazon and Facbook, wrote to Chancellor Philip Hammond to hector him over plans for a digital sales levy in Monday’s Budget.

And they warned any bid to impose a specific tax on mainly US multinationals would result in President Donald Trump retaliating with tariffs. GMB General Secretary Tim Roache said: “It’s an absolute disgrace and the Chancellor should not allow himself or UK taxpayers to be held hostage by corporate bandits.

“Amazon is showing its true colours – they care about the bottom line not the workers who generate their profits.”

Last year, Facebook paid £7.4million in UK corporation tax on £1.26billion in revenue. Amazon’s bill was £4.6million on profits of £80million. Mr Hammond raised the idea of a digital-only sales tax in his speech at the Tory conference earlier this month.

In his letter, TechUK chief Julian David accused him of a “smash and grab raid on revenue that will set alarms ringing from Washington to Tokyo”. He added: “There is a risk the

TARIFFS Donald Trump Government could start its post-Brexit ‘global Britain’ agenda with a raft of retaliatory tariffs from Donald Trump.” Our High Street Fightback campaign has exposed how shops are going to the wall while web giants undercut them and pay tiny tax bills. A Treasury spokesman said they did not comment on Budget proposals. ■ Facebook has revealed it removed 8.7 million pieces of content linked to child exploitation in the past three months.