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‘Punishment taxes’ for tech giants?

03 January 2018

The global tech giants could face tax ‘punishments’ for failing to help the UK government deal with the threat of terrorism, says security minister Ben Wallace.

The minster said ‘ruthless profiteers’ would no longer be tolerated. He went on to claim that too many of these internet firms are slow to remove radical content online, forcing the government to police the web at the cost of hundreds of millions of pounds.

It has been suggested that such a tax could be similar to the bank levy imposed on banks by the conservative government in 1981, or the windfall tax imposed on the excess profits of privatised utilities put in place in 1997 by the Blair government.

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