John Lewis chief urges Government to probe multinationals' UK tax setups

Andy Street: managing director of John Lewis
Andy Street: managing director of John Lewis

Andy Street, managing director of John Lewis, has called on the Government to intervene and look at the issue of major multinational companies paying little or no tax in the UK.

The intervention from Street follows days after Google, Amazon and Starbucks were called to answer questions by MPs about how they managed to pay little or no tax on their UK operations.

The tax loopholes used by the three companies are legal and the three businesses denied to MPs that they were involved in tax avoidance.

Street was speaking on the Sky News 'Jeff Randall Live' show and claimed that companies involved in funnelling tax through legal loopholes will "out-invest" and "ultimately out-trade us".

He said: "You have got less money to invest if you're giving 27% of your profits to the Exchequer than, clearly, if you’re domiciled in a tax haven and you've got much more.

"So they will out-invest and ultimately out-trade us and that means there will not be the tax base in the UK. So I do think it's an issue that needs to be examined."

The John Lewis managing director also flagged up that the Treasury should look into the question of earnings from a particular county, when taxed in that same country.

During MPs' questioning of the companies, committee chair Margaret Hodge accused Andrew Cecil, public policy director of Amazon of not being a "serious person".

0
SHARES
Comment

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs
Thousands of jobs across advertising, creative, marketing and media

Just published

Feel you're missing out?

GET THE
BRANDREPUBLIC
BULLETINS
Sign up

The Wall Blog

From our partners

3 great ads I had nothing to do with: Brian Cooper

3 great ads I had nothing to do with: Catherine Kehoe

A day in the life of Jozef Wallis

A day in the life of Jozef Wallis

A day in the life of Arthur Kay

A day in the life of Arthur Kay

A day in the life of Daniel Kaplansky

A day in the life of Daniel Kaplansky

Have an exciting Christmas in EC1

Have an exciting Christmas in EC1