Britain plans to tax retailers and tech companies whose profits have soared during the COVID-19 pandemic, the Sunday Times reported, citing leaked emails.
The government has summoned companies to discuss how an online sales tax would work, while plans are also being drawn up for a one-off “excessive profits tax”, the newspaper reported.
Sunak faces pressure from some in his Conservative Party to show spending is under control when he presents a new budget, after what is on track to be the heaviest annual borrowing since World War Two.
He has promised to put public finances on a sustainable footing once the economy begins to recover. Data last month showed public borrowing since the start of the financial year in April reached a record 271 billion pounds ($370 billion).
The finance ministry was not immediately available for comment on the Sunday Times report.
Source: sundiatapost
