Tax campaigners call for “pandemic profit levy”

Tax Justice UK has issued a fresh call for a windfall tax on companies that profited from the pandemic, or from economic changes accelerated by COVID-19. A report from the campaign group shows six firms raised their profits by a total of £16bn over the last financial year. Robert Palmer, executive director of Tax Justice UK, said a windfall tax on “excess profits” would be a fairer way to refill state coffers than increasing National Insurance. The report also calls for an increase in the main rate of corporation tax to 25%, and an equalising of capital gains and income taxes.

The Guardian

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