At the @G7 in London today, Chancellor @RishiSunak and his counterparts came to a historic agreement on global tax reform that will require the largest multinational tech giants will pay their fair share of tax in the UK. Under the principles of the landmark reforms, the largest global firms with profit margins of at least 10% will be in scope – with 20% of any profit above the 10% margin reallocated and then subjected to tax in the countries where they make sales.

As businesses start to reopen and the country gets back to normal, over 1.3 million people came off furlough in March and April - showing our #PlanforJobs is working. New data also shows that 2.8 million people benefitted from the Self-Employment Income Support Scheme - which has provided over £24 billion in support.

1/ The UK calculates economic growth in a different way to many other countries – more comparable approaches of GDP measurement show our performance is closer in line with our international counterparts. Read this thread & listen to Chancellor @RishiSunak explain the differences

https://twitter.com/SkyNews/status/1360156903716900865

2/ The independent ONS has said it’s important that we’re careful when making international comparisons between the performance of our economy and others.

We’ll be answering your questions about the #coronavirus support schemes announced by the Chancellor @rishisunak between 3-4pm today.
Want to know more about small business loans, job retention or our support for charities, just reply to this tweet with your question. Hi Becca. Owner/managers paying themselves through PAYE are able to be furloughed. Dividend income isn’t counted on the scheme because it would include those taking dividends from others sources. We used tax returns as we needed the system up and running as quick as possible.

https://twitter.com/beccahollinshe1/status/1248185342848651265

1/ The Government has announced a new Self-Employed Income Support Scheme to support those who work for themselves. 2/ The government will pay self-employed people, who have been adversely affected by the #coronavirus, a taxable grant worth 80% of their average income over the last three years, up to £2,500 per month, for at least three months.

1/ Chancellor @RishiSunak has today announced how we’re going to protect millions of people’s jobs in response to #coronavirus: 2/ Businesses will receive government grants worth up to 80% of wages to keep workers in jobs. The Coronavirus Job Retention Scheme will pay up to £2,500 per worker each month, helping those who are self-isolating or caring for loved ones.

1/ The government is taking action that is coordinated, coherent and comprehensive on COVID-19. This thread outlines some of the support in #Budget2020. 2/ Whatever extra resources our NHS needs to cope with COVID-19 – it will get. Whatever it needs, whatever it costs, we stand behind our NHS.