Prime Minister Keir Starmer and Chancellor Rachel Reeves have been warned by cross-party members of parliament to avoid an “abject surrender” to US President Donald Trump, as the pair consider reducing tax for US tech firms.
In an interview with the BBC on Sunday (23 March), Reeves repeatedly refused to rule out scrapping the digital services levy (DST) but admitted "we are having discussions with the US". She said: "It is the right thing that companies who operate in the UK pay their taxes in the UK and the United States government and tech companies understand that as well." Reeves' Budget headroom could land in negative territory as UK growth forecasts worsen When challenged over the prospect of scrapping the levy she admitted that "discussions at the moment are ongoing", adding: "we have got to ge...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
