John McDonnell has come under fire from within Labour ranks after backing Philip Hammond's income-tax cuts for millions of people.
"It's clearly not sustainable, or fair, that digital platform businesses can generate substantial value in the United Kingdom without paying tax here in respect of that business", finance minister Philip Hammond said in his annual budget speech on Monday (Oct 29).
With Tory MPs increasingly restive over the impact of the roll-out of Universal Credit on low income families, Mr Hammond signalled he was ready to provide additional support to ease the transition to the new system.
Before the budget, it warned that tax rates would need to rise to their highest since just after World War Two if Hammond were to end real-terms cuts on public services spending and significantly reduce public debt as a share of national income.
The government has clarified that the DST is not a tax on the online sale of goods (it will only apply to revenues from intermediating such sales, not making such sales) nor a generalised tax on online advertising or the collection data.
The proposal would see US giant firms in the likes of Facebook, Google, and Amazon paying additional taxes in the United Kingdom aside from the taxes they are already paying in the countries where their main headquarters are operating.
And he hinted that an emergency Budget could take place in the Spring "if the economic or fiscal outlook changes materially in-year".
Federer emotional after winning 99th career title
Just as Federer looked to be settling into form after almost 30 unforced errors in the opening set, more disruption ensued. But he finally lost his nerve in the 12th game when two unforced errors in a row handed Federer the match.
But the spectre of a no-deal Brexit hung over the 72-minute statement, with the Office for Budget Responsibility (OBR) warning that failure to reach agreement with Brussels would hit the economy hard.
While the health service in England is set to enjoy £20.5 billion higher spending by 2023/24, spending on most other departments will be "essentially flat" over the coming five years once inflation is taken into account, said Mr Johnson.
- The OBR upgraded its forecast for GDP growth in 2019 from 1.3% to 1.6%, then 1.4% in 2020 and 2021; 1.5% in 2022; and 1.6% in 2023. The announcement reveals a pledge by the government to meet its manifesto commitment one year earlier than originally planned.
A £420 million fund will help local highway authorities fix potholes and carry out other maintenance tasks.
The government will abolish the use of private finance initiatives (PFI) to fund future projects, chancellor Philip Hammond announced today.
Scottish Conservative interim leader Jackson Carlaw said: "With tax cuts being delivered south of the border, the case for yet more SNP tax rises next year in Scotland is simply unsustainable".