Archibald calls for introduction of Windfall Tax
Sinn Féin's Economy Spokesperson, Caoimhe Archibald MLA, has written to the British government calling for the introduction of a Windfall Tax on several multinational giants making super-profits as a result of the COVID-19 crisis.
The East Derry MLA took the initiative following the announcement of soaring share prices and subscriber figures for multinational giants such as Amazon and Netflix.
Caoimhe Archibald MLA said:
"I have written to the British Chancellor to call for the introduction of a Windfall Tax on the profits of those multinationals and large corporations who have made substantial profits as a result of the COVID-19 crisis.
"Several large companies such as Amazon, Netflix, and large food retailers have enjoyed a significant increase in their profits as a result of the lockdown.
"These profits should be taxed, and the revenue raised should be used directly to deal with this public health and economic crisis.
"In fact, several of the companies concerned are taxed very little anyway due to their exploitation of a complex network of tax loopholes. The British government must seek to collect all corporate tax as a matter of urgency."