Good to see @hmtreasury is looking seriously at how to implement my proposed #windfalltax on excessive profits online giants have reaped during Covid while so many other sectors have been devastated by enforced lockdowns.
But this #windfalltax is something I’ve talked about for some time, including in this article I wrote for @Daily_Express during the first lockdown back in April. #thread
I've also spoken about an ongoing #onlinesales tax. This would need to be done carefully so as not to discourage entrepreneurialism but in light of the reduced overheads advantage over #HighStreet.
.@bankofengland is right that our strong vaccine rollout is essential for our economic recovery. And we will undoubtedly have a big bounce as things reopen. But let’s remember that is from the very low position of being 10% down. #economy
This initial bounceback will be driven by those who have been lucky enough to maintain or grow their incomes during Covid as they splash out with their excess savings and make up for lost time. #bankofengland#economy#thread
But vaccines can’t reopen businesses already closed, save jobs already lost, pay off the debts of over-leveraged SMEs, or plug the huge holes in the finances of the unlucky 3.8m excluded from Covid income support for the past 10 months. @ExcludedUK#ExcludedUK#thread