The opposition Labor Party in the UK has called on the government to support US proposals for a global minimum tax on corporate profits.
In a letter to Chancellor of the Exchequer Rishi Sunak and Foreign Minister Dominic Raab, Labor counterparts Rachel Reeves and Lisa Nandy said Britain could not be the odd one they described as a “golden opportunity” on the matter. ”
US proposals for a minimum global corporate tax of at least 15% met with an enthusiastic response in the rest of Europe, although Labor said the UK had remained lukewarm on the issue.
Read more: Sunak is not convincedGlobal Business Tax Plan
It is especially important that the UK support the plans as it hosts the Group of Seven Summit this year, Labor lawmakers wrote.
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