Proposal for 21% minimum corporate rate would generate additional £14.7bn for Britain, says IPPR
The UK would reap an extra £14.7bn annually by adopting Joe Biden’s proposal for a new global minimum corporation tax rate of 21%, according to a major thinktank.
The Institute for Public Policy Research (IPPR) Centre for Economic Justice has urged the government to embrace and push for the US president’s proposals at the forthcoming G7 summit, arguing that the global system would both be fairer and allow the UK to raise billions in vital revenue.
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